• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Contract rates: Daily v Hourly

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Contract rates: Daily v Hourly

    Hi all,

    Just looked at the contract rates for Java programming in London.

    Can't really understand why there's such a discrepancy between the hourly (£44.59) and daily (£496) averages. According to these values a daily rate contractor would have to work 11 hours a day to earn the same as a daily rate contractor.

    Are these figures, based on contract advertisements (not actual contract rates), to be trusted?

    #2
    It's probably just that the jobs that are advertised as paying an hourly rate pay lower. Since it's just an average of two separate collections of jobs, there's no real link between the two.

    I guess they could assume that a daily rate is 7.5 hours and average the two together, but that may not be the case in a number of situations.
    Best Forum Advisor 2014
    Work in the public sector? You can read my FAQ here
    Click here to get 15% off your first year's IPSE membership

    Comment


      #3
      There are a couple of reasons.
      Firstly, there are industries that just like to pay daily rates (consulting; finance) and they tend to be more demanding and pressured than others (retail, light industrials) that prefer to pay hourly.

      Secondly, even within the same industry, low-responsibility code monkey jobs tend to pay hourly; jobs with more accountability, that might indeed require a couple more hours a day, tend to pay daily.

      Comment

      Working...
      X