"The most painful state of being consists in remembering the future, particularly the one you’ll never have" - Kierkegaard
Kierkegaard understood the existential angst of choice. People have a tendency to stick with what is familiar, even unhealthy, rather than face the stress of making a wrong decision.
While my favourite quote of his, “It’s better to get lost in the passion than to lose the passion”, emphasises that you can only stick around for so long in a bad contract/ relationship/ life path before the marrow gets stripped from your bones. Bukowski's poem "Bluebird" provides another slant on the same theme.
Let the good contracts run, cut the others as soon as you can.. and if you need to stay, at least make sure you are paid appropriately.
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Increase Day Rate
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You need to be clear about your next steps if you don't get what you ask for, and as always, if you don't ask, you don't get. I knew I would stay even if they didn't agree to my request, because it was a great gig. Knowing this actually gave me extra confidence in asking. I didn't get as much as I wanted, but I did get a nice increase. And it worked out even better as I had a couple more contract extensions.Leave a comment:
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Originally posted by RandomContractor View PostThe way I see it is like this. If you ask your agent for a rate increase its going to end 1 of 3 ways.
1. You get the increase.
2. You get told no and accept it.
3. You walk.
If you have no leverage, 2 is going to be what happens in most cases and the agent knows this. So how do you get the leverage?
1. Find out the rate being paid by the client. I'm not saying to go ask, but people love to talk and documents are always being left laying around or even sent to you.
2. Get the client to want to renew you. If the client wants to keep you they will let you know. Don't ask the agent about renewals because that gives them power. "hey I managed to get you a renewal, look how good I am to you". The reality is the client is actually desperate to keep you.
3. Be in demand. Basic supply and demand, if the agent knows you are unlikely to find another job soon why would they be worried? But if they know they can't replace you easily it's a different story.
4. Be prepared to walk. If you are not prepared to walk don't even bother. You are bringing a knife to a gun fight.
No agent is your friend, no matter how hard they try to fake it. This is a business relationship and they are making money of you.
Set your stall out, give your terms. They will try most tricks in the books but you have to hold firm.
The power of silence is a great tool here. A lot of agents will leave you to stew while they 'see what they can do'. Don't message them. You have made your proposal, the ball is in their court. Contacting them before they contact you shows weakness.
If you flinch first you've lost.
I recently got a 15% increase.
I would also find another client who will either pay the new contract rate or come very close it. Be in the way, "I already have had an informal conversation with ACME and they are potentially offering £750 per day."
We need to get back to the old-style First-Tuesdays and DevOps London monthly networking (face-to-face) events. Sometimes just having that connection. "I remember so-so from that rubbishy JavaScript Dojo talk at conference UVW" can be the trigger to a brand new gig. The investment bankers, especially traders, the blighters could jump ship from one bank to the next bank, back in the day. The fella at Bank of America suddenly is working 6 months after the February bonus at Credit Suisse, because there were literally across or down 5 minutes walk the Colonnade. It is hard to do it virtually ... but that is my advice.
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The way I see it is like this. If you ask your agent for a rate increase its going to end 1 of 3 ways.
1. You get the increase.
2. You get told no and accept it.
3. You walk.
If you have no leverage, 2 is going to be what happens in most cases and the agent knows this. So how do you get the leverage?
1. Find out the rate being paid by the client. I'm not saying to go ask, but people love to talk and documents are always being left laying around or even sent to you.
2. Get the client to want to renew you. If the client wants to keep you they will let you know. Don't ask the agent about renewals because that gives them power. "hey I managed to get you a renewal, look how good I am to you". The reality is the client is actually desperate to keep you.
3. Be in demand. Basic supply and demand, if the agent knows you are unlikely to find another job soon why would they be worried? But if they know they can't replace you easily it's a different story.
4. Be prepared to walk. If you are not prepared to walk don't even bother. You are bringing a knife to a gun fight.
No agent is your friend, no matter how hard they try to fake it. This is a business relationship and they are making money of you.
Set your stall out, give your terms. They will try most tricks in the books but you have to hold firm.
The power of silence is a great tool here. A lot of agents will leave you to stew while they 'see what they can do'. Don't message them. You have made your proposal, the ball is in their court. Contacting them before they contact you shows weakness.
If you flinch first you've lost.
I recently got a 15% increase.Leave a comment:
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Originally posted by cojak View Post
- We had a bunch of work (multiple jobs: rendering, gutters, driveway etc the list goes on) on the house quoted a year ago to be done in 2022. We are getting everything requoted now and the prices are 15-20% higher.
- My favorite chocolate bar at my local asda went up from 1.50 to 2.20. And no, it was not on sale before.
- Local M and S is now charging an arm and a leg for their food compared to a year ago.
- My accountant has increased the charge for their service by 15%
- Don't get me started on petrol/gas/electricity.
- Valuation of our house has gone up by 35%. In 1 year! That's either the biggest house market bubble brewing or our currency is going down
- Contracts for my skillset have gone up by about 25-30%. The whole IT industry has kept up really well with inflation!
I could go on but that's just my 2 cents. The figures are bulltulip, 5% is not what I am seeing in day to day life. You can only explain so much away with brexit, covid etc. The reality is that printing money only gets you so far.Leave a comment:
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Originally posted by cannon999 View Post
Well inflation is running at 20% so you add that onto previous rates and you get that
The ONS says that it’s 4.9% https://www.ons.gov.uk/economy/inflationandpriceindices
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GiGi Bronze or whatever his name is, seems to be a certified maniacLeave a comment:
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Originally posted by d000hg View Post£750pd for a pretty standard developer role sounds pie-in-the-sky to me, isn't that back to the glory days of the dotCom bubble? That kind of level suggests contractors have simply tacked on the IR35 costs to their rates, which is not what I thought had happened.
But then I've not been following the markets and especially not in London, has there been a steep rise (£500 being a reasonably typical rate for a non-specialist before)?
Maybe this should be pulled into its own topic though since it's a slight tangent.Leave a comment:
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£750pd for a pretty standard developer role sounds pie-in-the-sky to me, isn't that back to the glory days of the dotCom bubble? That kind of level suggests contractors have simply tacked on the IR35 costs to their rates, which is not what I thought had happened.
But then I've not been following the markets and especially not in London, has there been a steep rise (£500 being a reasonably typical rate for a non-specialist before)?
Maybe this should be pulled into its own topic though since it's a slight tangent.Leave a comment:
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Increasing day rate is the topic, but it should be considered as part of a larger work-life balance question: is there anything concerning money, personal terms, work conditions or any other aspect of your contract that you would like to improve? e.g. 100% working from home instead of 2 days in the office per week, or condensing your hours into 4 days instead of working 5?
Ideally, you should really have insider knowledge about the billable rates, or departmental-project cross billing rates, at the client.
Also, observe the personal terms / working conditions of your colleagues-- is there any benefit any other contractor has that would improve your situation? You may want to run ideas about rate increase etc. past your more experienced colleagues, to get a reality check also (although in the contractor world, there is a tendency not to talk about privately negotiated beneficial terms, so don't expect the truth).
So when you ask for the headline rate increase (if you want £50, it makes sense to ask for £100 and expect to be negotiated down), and if there is strong pushback, you have the opportunity to compromise on a lower headline rate increase combined with better personal terms.
And if you get a complete "NO" to all your requests (from the client, not the agency), you know you need to move elsewhere.
Negotiating with the agency, from a position of ignorance, is unlikely to be successful. For example, the following would be a typical exchange:
BBP - Hi, I'm being underpaid. I want £100 extra per day. I've been offered a better paying contract elsewhere. I'm the best at <blah>
AGENT - I'll speak to <blah> and get back to you <blah>
..
AGENT - Sorry, no possibility of a rate increase, you are already on one the highest rates there, and marketplace currently is <blah> with lots of <blah> available.
BBP - I'm considering taking the other role.
AGENT - Are you telling me BBP, that I should be advertising your role as available?
BBP - <blah>
AGENT - Do you want me to contact the client to let them know you are leaving? etc... <blah>
Leave a comment:
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