Hi, Hi. Hoping to get a bit of advice from all you highly experienced contractors out there.
I'm 3 months in on a 12 month contract at a rate I thought at the time was 'reasonable'. Since then, seeing several contracts of similar work, area and industry come up with a significantly higher rate coupled with finding out what rates some of my contracting friends of similar skill are on (some at same client, some not) I have lately become slightly disheartened.
I also recently found out that the agency charges the client a 45% markup on my rate (or, they take 30% cut what they charge client, depending on how you work it out) which is pretty astronomical is it not? I am now feeling like a bit of a mug!
I guess my options are
(1) Ask the client for a rate rise
(2) Ask the agency for a margin cut
(3) Hand in notice and find another contract
I feel uncomfortable with (1) as I'm only 3 months in and also they pay a decent amount to the agency. And (3) is only really a last resort as I'm not really that keen on going through the whole finding & starting the new job process right now! Would you have any advice on how best to go about asking for (2)? What are the chances?
Thanks.
Robin
I'm 3 months in on a 12 month contract at a rate I thought at the time was 'reasonable'. Since then, seeing several contracts of similar work, area and industry come up with a significantly higher rate coupled with finding out what rates some of my contracting friends of similar skill are on (some at same client, some not) I have lately become slightly disheartened.
I also recently found out that the agency charges the client a 45% markup on my rate (or, they take 30% cut what they charge client, depending on how you work it out) which is pretty astronomical is it not? I am now feeling like a bit of a mug!
I guess my options are
(1) Ask the client for a rate rise
(2) Ask the agency for a margin cut
(3) Hand in notice and find another contract
I feel uncomfortable with (1) as I'm only 3 months in and also they pay a decent amount to the agency. And (3) is only really a last resort as I'm not really that keen on going through the whole finding & starting the new job process right now! Would you have any advice on how best to go about asking for (2)? What are the chances?
Thanks.
Robin
Comment