Lloyds cutting rates by another 10% today

[downsouth]

You might find urself shortly being 'realigned' to your colleague contractor rates if the rumour mill is correct.

15% drop might seem favourable soon

[minestrone]

After 5 years in banking I am back in a small software house. Money may be much less but I am still earning much more than any of my friends and actually enjoying working on an interesting greenfield project rather than butchering around some derivative pricing stored procs.

In the words of Maria Von Trapp "every time God closes a door, He opens a window"

[bracken]

Only £500/day, you poor soul.

I'll take that comment with a pinch of salt as I have no problem in the rate being cut and happen to think that for what I do, it's a fair rate for the current market - it's all about supply and demand and I'm just thankful that I'm not benched as I was for a few months earlier in the year. Saying that, I don't like it (does anyone like a 15% cut?) but I aint moaning - my view is 'put up and shut up or get out' so I'm 'putting up' and will be rushing back my acceptance by the '5PM on Monday' deadline to secure the position for the next few months!!

B

[Shimano105]

I'll take that comment with a pinch of salt as I have no problem in the rate being cut and happen to think that for what I do, it's a fair rate for the current market - it's all about supply and demand and I'm just thankful that I'm not benched as I was for a few months earlier in the year. Saying that, I don't like it (does anyone like a 15% cut?) but I aint moaning - my view is 'put up and shut up or get out' so I'm 'putting up' and will be rushing back my acceptance by the '5PM on Monday' deadline to secure the position for the next few months!!

B

You missed the point by such a degree that you ought to be an MP

[Le Rosbif]

Beeing a contractor and an entrepreneur

wrong post

[d000hg]

I'll take that comment with a pinch of salt as I have no problem in the rate being cut and happen to think that for what I do, it's a fair rate for the current market - it's all about supply and demand and I'm just thankful that I'm not benched as I was for a few months earlier in the year. Saying that, I don't like it (does anyone like a 15% cut?) but I aint moaning - my view is 'put up and shut up or get out' so I'm 'putting up' and will be rushing back my acceptance by the '5PM on Monday' deadline to secure the position for the next few months!!

B

No worries. I guess even if you were on £1000/day you'd still resent having to drop to £800/day...

[Soled73]

http://www.contractoruk.com/news/004413.html

[BolshieBastard]

Very sorry to hear about another rate cut by the same client, been there done that and walked. Once, never again!

Thankfully, my current international banking client hasnt introduced any rate cut to existing contractors although they did let many go and retained only the best! They only take new hires on at lower rates.

[Clippy]

Sorry to say this chaps but it does seem that any developer's days are numbered...

Is there anyway that you guys can go more 'upstream' into design and architecture? (This is what I'm doing in my own niche... BT/Tech Mahindra are encroaching into the lower end of my territory...)

Cojak - can you elaborate when you say 'lower-end of your territory'.

[pzz76077]

I have also contracted through 2 recessions. I have always found work. I am constantly skilling up. I am not asking for protection.

Rates are going downwards though, no matter what you claim. Can't see them coming back much either.

Pig farming? Not for me.

You cannot compete with offshore workers that will work for 20% of what you will accept. The only way to survive is to have skills that they dont have.
What you did last year, is a commodity in low pay areas now, so move on to the next thing.
Remember someone in India or the Philippines can download the same Microsoft or Oracle etc software that you can, so competing in the COTS market is out of the question. No jobs here move on.

PZZ