Negotiating Rates - First Timer Advice Please

[Dusty]

Hello

This is my first post after reading the forums for a while. I've just taken the plunge into the contracting world and have a quick question on rates and agents.

I have looked this up on the internet etc and have read that agents like first timers because they don't tend to have negotiation skills allowing them to make a bigger margin. Anyway my situation is when the agent called for the fist time I expressed I wanted market rates but in the end the agent got me to state the required rate. I stated a minimum rate and the agents response was "I don't know the current rate for this contract I have in mind for you but would you take, say £25 less a day to get into a banking role?"

Magically that role is now for exactly £25 less than the rate I stated. So I'm assuming the agent either knew the rate from day 1 or is just trying to make the biggest margin and go with what he thinks I'm going to take.

Anyway if that makes sense I'd appreciate advice on whether to try and negotiate and try and get more money and tips on doing so or whether I should just be grateful to get into contracting??


PS I'm more concerned because it's 8 months


Thanks in advance!

[Sausage Surprise]

I add 10% on to the rate I would like, they offer me 10% less. We're all happy

[ChimpMaster]

Dusty

Yes, you got screwed. Consider it your initiation into the contract world.

However, let's look at this positively:-
1) Are you generally quite happy with the rate?
2) This is your first ever contract
3) You're getting 8 months contract income if it lasts til the end.
4) You look for a better paying contract prior to renewal at 8 months, and use that to negotiate a better rate.
5) You're getting into banking (which could also be a negative at this point)
6) You're not going to be on this rate forever, so as long as you are reasonably happy with it, don't let it give you high blood pressure.

And if you really want to screw the agent over now - just don't take the contract and find something else. If you can do this with conviction, you'll have the agent running back after you.

[Sockpuppet]

6) You're not going to be on this rate forever, so as long as you are reasonably happy with it, don't let it give you high blood pressure.

Heck yes. In 12 months I increased my rate by over £100/day becuase of the tulip rate I took at a newb.

[lukemg]

They do this everyday, this was your first go. They know you are fighting from a weak position and can manipulate accordingly.
Bottom line - if you want the contract, location, type of work, client etc suits then 8 months at the moment is a long termer !
Suck it up and try to bounce it up next time.

[MrRobin]

Heck yes. In 12 months I increased my rate by over £100/day becuase of the tulip rate I took at a newb.

Ditto

[dude69]

wot is the rate?

[Dusty]

Thanks for the replies! I'll remember the information for next time!!


Cheers