IT Contractors - monthly payment?

**boredsenseless** · 23 March 2007, 09:09

Originally posted by 135R

Hi All,

Just joined this forum, looking for some input from both contractors and agents.

I've worked in contract IT recruitment since 2000, for the same company until towards the end of last year. I joined a larger firm to develop their contractor desk with belief that my new employer would take advantage of my sector knowledge and experience. At my previous company we gave contractors the option of being paid weekly or monthly and the majority chose the former (I'd say roughly 90%). At present, my new company are only able to pay contractors monthly, and I would say that out of the current crop roughly half have taken issue with this. I have said on a number of occasions that this needs to be changed.

So, I'd like your thoughts please, people. As a contractor (at whatever pay level), what would be your preference? As an agent, am I right in thinking weekly payment is not just the norm, but actually an essential pre-requisite of running a successful desk? Do any other agents pay contractors' invoices on a monthly basis only?

Cheers

Monthly or on completion of task, I'm not a factory monkey...

**cojak** · 23 March 2007, 09:12

On receipt of an invoice - monthly.

I haven't been paid weekly since they stopped paying me cash in a brown envelope...

**mrdavies** · 23 March 2007, 09:14

Weekly. I don't like hanging on for weeks wondering if i'll be paid or not, I am on a highly unstable project though, if it wasn't like this I would be happy with monthly. Perhaps my next gig..

**cojak** · 23 March 2007, 09:16

Oh yeah - if there's probs with the project or agency I'd go for weekly, obv...

**cykophysh39** · 23 March 2007, 09:19

I am monthly at the moment, but that is only because I am with a large reputable company, and I am working abroad. It would be nice to have the option, as it does minimise the risks for us contractors.

**ratewhore** · 23 March 2007, 09:23

Within 30 days of whenever I decide to invoice. Sometimes I invoice straight away, sometimes I may wait a few months then bang in multiple invoices at once...

Weekly seems a bit too salaried for me...

**Weltchy** · 23 March 2007, 09:24

Depends on how often I invoice. If I invoice monthly, then I expect speedy payment upon invoicing. My opinion however is, why should I let the agency accrue interest on money which is due to me, so therefore I invoice as often and as quickly as I can. On occasion, i've invoiced after two days work, as this was how long it took to complete that part of the project.

**Sockpuppet** · 23 March 2007, 09:28

I used to get paid whenever I put an invoice in. Only put 2 in over a 3 month+ project.

Now the current agency gets phoning me if I dont forward the timesheets on weekly. To me its not an issue I can live without the cash in the business bank account for a month.

I still pay myself monthly, regardless of when the clients pay my co.

I'd prefer monthly payments.

**lukemg** · 23 March 2007, 09:30

Most agencies offer monthly but most can be persuaded to do weekly if pushed. If it is a big client and agency I don't sweat over monthly. If either look small/not used to contractors or anything else seems dodgy I would push for weekly to limit any exposure to risk.
In short - I don't live hand to mouth so monthly is fine.

IT Contractors - monthly payment?