Lining up multiple offers and timelines

[fakenick]

I'm new to the contracting world and looking to start my first contract role, hoping I can get some advice on lining up multiple offers, timelines to accept and negotiating rates.

I recently had an offer come in, and they told me I had to accept the offer within 24 hours. Is this standard practice or a pressure tactic?

I told the other company I was in final stages with (They had a much higher rate) and they moved the final interview forward and gave me an offer within the 24 hours. As such I turned down the original company and went with the newer offer.

The next day I signed the contract for my accepted offer, then hours later they told me they were no longer hiring this role, and the position was withdrawn. I went back to the first company to see if they were still interested, they did some delaying tactics for a few days then came back and said they were unhappy I rejected them and have gone with someone else (I assume they were interviewing other candidates during the delay).

Is there anything I could have done to handle this better? I feel I rushed the second company to make a decision and they just accepted not to lose me, then changed their mind. Should I have accepted both roles and waited till they sent laptops out?

In the perm world I'm used the receiving multiple offers, picking the best and negotiating the salary up between them. Is this not really done in contractor land?

I have three final stage interviews coming up next week on consecutive days, and am worried I will run into the same issues. What's the best way to mitigate this and end up with the best rate?

[NotAllThere]

I recently had an offer come in, and they told me I had to accept the offer within 24 hours. Is this standard practice or a pressure tactic?

It's a pressure tactic.

[SussexSeagull]

Not sure what more you could have done, it's just you were very unlucky.

[northernladuk]

I recently had an offer come in, and they told me I had to accept the offer within 24 hours. Is this standard practice or a pressure tactic?

Varies. You could argue it's a pressure tactic for sure but your own situation is one they are trying to avoid. They want you to sign quick, not waste time balancing two gigs and you then turn them down after the other offer has come through. So by your own example you can see why they want you to sign quick. They'll have a lot of experience of giving contractors a few days and then getting turned down after so seem fair on that basis.

Also, a vast majoirity of gigs I've done I've interviewed Monday/Tues, accepted Weds/Thurs and been on site on the Monday after so things can move very quickly so 24 hours is reasonable when you are going to be on site in less than three days.

I told the other company I was in final stages with (They had a much higher rate) and they moved the final interview forward and gave me an offer within the 24 hours. As such I turned down the original company and went with the newer offer.

Which is exactly why the demand a 24 hour period. You can't blame them as you yourself have just shafted them. We complain about some of the tactics agents push but it's because we do this to them. Make a rod for our back sometimes.

The next day I signed the contract for my accepted offer, then hours later they told me they were no longer hiring this role, and the position was withdrawn. I went back to the first company to see if they were still interested, they did some delaying tactics for a few days then came back and said they were unhappy I rejected them and have gone with someone else (I assume they were interviewing other candidates during the delay).

Was there any inkling this was going to happen? Contractor interviews are different to perm, we also have to interview the client to understand the work, potential for it getting withdrawn, possibility of extensions, the type of work that will be done etc. Experienced contractors might pick up on something the client says, maybe you are coming in to save a dying project which is a red flag, unreasonable timescales, they are unsure what they want to do etc.
Can't blame the first agent really.

Is there anything I could have done to handle this better? I feel I rushed the second company to make a decision and they just accepted not to lose me, then changed their mind. Should I have accepted both roles and waited till they sent laptops out?

It is what it is. Unfortuntate you got two offers so close, unlucky it fell through etc. All pretty normal stuff, just a rather extreme and very unfortunate situation.
Personally I wouldn't advocate accepting gigs you are likely to have to then turn down. Gets extremely messy but I can see that some people might say yes take both and then just deal with the fall out after. Remember if you accept you are bound to the contract which includes notice periods for termination. If you just say you aren't turning up you are in breach of contract and the agent would be completely in their rights to sue you for loss of commmission and the costs of finding a replacement.

In the perm world I'm used the receiving multiple offers, picking the best and negotiating the salary up between them. Is this not really done in contractor land?

Not really. Clients have charge rates, agents take a margin which 'could' be negotiated in certain circumstances so little room to negotiate. Also contractors are called in where there is an urgent need and will often be wanted straight away. As I said, nearly every gig I've had it's been less than 5 days from application to sitting at the clients desk. There are litterly hundreds of contractors applying for the same gig. To a perm they are investing in you and unlikely to be too many suitable candidates and it's an enduring job so can wait. In contracting it's first in the queue at the desk and boom.

I have three final stage interviews coming up next week on consecutive days, and am worried I will run into the same issues. What's the best way to mitigate this and end up with the best rate?

As you've seen, playing contracts off against each other more often than not ends very badly. Just attend every interview, ask how long before they want you to start which will give you an idea of what time you've got to play with and weigh up the situation based on feedback from each interview. Do not expect to have all three on the table and have a week to think about it. As you see that just doesn't work.

And yes it's nice to get the top rate but contracts will come and go, you'll get great rates and you'll get awful ones. Every contract is short term. Don't risk losing contracts for the sake of a few 10's of quid per day. If you interview for one, sounds good and suits you but it's 25 quid less than the next one which can fold, isn't quite as attractive etc IMO you'd be stupid to let the 25 quid a day sway your decision with the very real risk of having nothing. Your current example should tell you that. You put off the lower rate to chase the higher one and now have nothing.
Best way to mitigate is not to be greedy and accept the gig that looks the most fun even if it's not the top rate.

[krytonsheep]

Best way to mitigate is not to be greedy and accept the gig that looks the most fun even if it's not the top rate.

I have noticed over the years an inverse correlation between pay and fun/good people to work with. My theory is, the worse the place is, the higher the pay needed to retain and recruit.

[fakenick]

Thanks for your responses, all this is a learning experience for me so really good to get input from people in the know.

Was there any inkling this was going to happen?

Didn't hear anything that would indicate the role would get pulled. It was for a big multinational, relatively new project consisting of multiple contractors already. I just found it odd that they could do a complete 180 in the space of a day.

Lots of great advice here, there was a sizeable (> 30%) rate difference between the two roles so I thought it was worth the risk, but didn't pay off this time. As I'm new to contracting I was unsure what rate I could command and how successful I would be in the interviews, these two roles just happened to be on either end of the scale in terms of pay. Point taken on not worrying about small differences on day rates and going for the most fun gig!

[Paralytic]

Not sure what more you could have done, it's just you were very unlucky.

I'd have stalled on the first offer (rather than rejecting it) for as long as possible, even after the second offer came in. End result might have been the same, however.

[northernladuk]

Didn't hear anything that would indicate the role would get pulled. It was for a big multinational, relatively new project consisting of multiple contractors already. I just found it odd that they could do a complete 180 in the space of a day.

It happens. We've had posts from people that have had roles pulled after they left the interview, next day, day before start and even a guy who was told it was pulled while sitting in reception from day one. Just happens. There must be a reason but little point trying to understand why.

As I'm new to contracting I was unsure what rate I could command and how successful I would be in the interviews,

So let me give you a different perspective then. Contracting is a career, gigs come and go. Some pay great, some are utter tulipe but they are short term.
As a new contractor you should be taking the most prestigious gig, the one with the lastest tech or the one that is going to make you look the best for your next gig.

So the rate is 40 quid a day less but it could mean you'll land the next gig the after you leave the other. A couple of weeks/months on the bench because you took the highest paying but crappy gig is very poor planning and is just not profitable. Play the long game. You are new, become the best and gaurantee yourself end to end outside gigs because you are the best and THEN you can chase the higher paying gigs.

[TheDude]

It's a pressure tactic.

Pressure makes diamonds

[TheDude]

I'm new to the contracting world and looking to start my first contract role, hoping I can get some advice on lining up multiple offers, timelines to accept and negotiating rates.

I recently had an offer come in, and they told me I had to accept the offer within 24 hours. Is this standard practice or a pressure tactic?

I told the other company I was in final stages with (They had a much higher rate) and they moved the final interview forward and gave me an offer within the 24 hours. As such I turned down the original company and went with the newer offer.

The next day I signed the contract for my accepted offer, then hours later they told me they were no longer hiring this role, and the position was withdrawn. I went back to the first company to see if they were still interested, they did some delaying tactics for a few days then came back and said they were unhappy I rejected them and have gone with someone else (I assume they were interviewing other candidates during the delay).

Is there anything I could have done to handle this better? I feel I rushed the second company to make a decision and they just accepted not to lose me, then changed their mind. Should I have accepted both roles and waited till they sent laptops out?

In the perm world I'm used the receiving multiple offers, picking the best and negotiating the salary up between them. Is this not really done in contractor land?

I have three final stage interviews coming up next week on consecutive days, and am worried I will run into the same issues. What's the best way to mitigate this and end up with the best rate?

Never ever tell clients or agents you are interviewing elsewhere.