- You get better increases by switching out to a new gig and agency
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- Know your leverage - do they need you or do you need them?
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- If you happen to spend 2 weeks or more on break between gigs then you may have to work longer than you thought to make back the money you lost versus if you'd just stayed where you were, invoicing continually
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Increase Day Rate
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The process is much the same as it is in the permanent worldLast edited by PerfectStorm; 17 February 2022, 10:19. -
Originally posted by eek View Post
You increase your rate by asking but in all likelihood you aren't going to get anything by staying.
So start hunting for a new contract so you are in a position to ask for more money (matching the rate of your newly found better paying contract) or don't expect an increase.Leave a comment:
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Originally posted by bbp View PostHi,
I'm fairly new to contracting. Have switched couple of times and didn't really have to renegotiate my day rate for a contract. Been in the current contract for an year now & the extension date is approaching.
As you already know, cost of living has drastically increased and the NI increases (Inside IR35, paying both Employers/Employee NI from day rate) aren't helping. I'm planning to discuss an increase to my day rate. As I have no experience in this, can you share your thoughts on:- How often do you renegotiate your day rate.
- After an year, how much % do you usually increase?
- If you're in the same boat as me (with current cost increases) how much % are you planning to increase for 2022? (From my calculations, its around 10%. Covers, additional NI costs & +3% take home)
So start hunting for a new contract so you are in a position to ask for more money (matching the rate of your newly found better paying contract) or don't expect an increase.Leave a comment:
-
Increase Day Rate
Hi,
I'm fairly new to contracting. Have switched couple of times and didn't really have to renegotiate my day rate for a contract. Been in the current contract for an year now & the extension date is approaching.
As you already know, cost of living has drastically increased and the NI increases (Inside IR35, paying both Employers/Employee NI from day rate) aren't helping. I'm planning to discuss an increase to my day rate. As I have no experience in this, can you share your thoughts on:- How often do you renegotiate your day rate.
- After an year, how much % do you usually increase?
- If you're in the same boat as me (with current cost increases) how much % are you planning to increase for 2022? (From my calculations, its around 10%. Covers, additional NI costs & +3% take home)
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