We all talk about it but what is the right rate

[scooterscot]

I don't know where those astronomical figures are coming from, but my wife and I get by on £75 a day at the moment.

Although that does not include holidays & clothes but everything else.

I'm over £500 a day at the moment. I think if you want to make money you not only look for a higher rate but you must stop spending it on the frivolous.

We eat out a lot I'd say but neither of us drinks or smokes,

[moony1234]

Hmmm all this talk of £500 per day.... I must not be getting paid enough!!!

Better than nothing though I guess...

[swamp]

An "I'm not getting out of bed for < £500" attitude can quickly cost you more income than accepting a lower rate and pushing hard for more money at every opportunity.

[shanti]

Forget it..

All this discussion is academic.

Its a market.

Depends on supply and demand.

No one is going to pay to your life style (particularly when they don't know you).

With the push on offshoring - the rate is heading south.

Want to find out the right rate...?...

Then look at it from the buyers perspective.

Porters five forces are a hint (including barriers to entry).

That is what you are worth - unless you can get a competive edge (i.e. are a known entity).

My 2 c's.

[AlfredJPruffock]

Typically my rate is circa 420-450 per diem - however there are factors such as the duration and location of the project which influences the Rate.

[Not So Wise]

£500?? More like half that is the "minimum" to make contracting "worth the effort"

If you NEED £500 per day you seriously need to look at your expenditure/debts and stop "trying to keep up with the Joneses", Better to hold on to that money and retire earlier

[BlackenedBiker]

£500?? More like half that is the "minimum" to make contracting "worth the effort"

If you NEED £500 per day you seriously need to look at your expenditure/debts and stop "trying to keep up with the Joneses", Better to hold on to that money and retire earlier

One needs to know ones worth, I have no debts and my expenditure is moderate.

However, I have realities such as Health Care, Pension etc that I need to address, hence the question.

BTW: How the fark are the Joneses

[Board Game Geek]

I think this is an important point - plus, paradoxically, having a very low rate implies to them that there's something wrong somewhere and they'll be wary of using you.

Not necessarily.

Some will take the view that if Mr X can do it for say, £130 a day, and Mr Y wants £300+ a day, where is the incentive to use Mr Y ?

It may be that Mr X is just as technically competent as Mr Y, however he doesn't have the overheads of living that Mr Y has, and can accordingly pitch his rates to be client-friendly. Perhaps Mr X does it because he wants to ensure that he a greater chance of survival in the marketplace by undercutting his rivals.

£130 a day is better than £0 a day, capice ?

[EddieNambulous]

Not necessarily.

Some will take the view that if Mr X can do it for say, £130 a day, and Mr Y wants £300+ a day, where is the incentive to use Mr Y ?

Well, that bit of info I quoted about not letting your rate go too low came from an agent "friend" of mine from a few months back. i.e. someone not with a vested interest in slanting the information

[AlfredJPruffock]

Mr X can do it for say, £130 a day, and Mr Y wants £300+ a day, where is the incentive to use Mr Y

With that logic then would you be happy for your employer to offer you a fifty per cent pay cut - on the basis that there is a Mr X ready to take your job ?

It seems to me this is a prime example of ever decreasing circles ... what about Mr Z who is happy to work for 50 quid a day ? etc

On that basis - why dont top football clubs hire new players at 150 quid a day - sure theres plenty of Mr X's out there who would oblige ?

You cannot discard a candidates skills and experience when determining the rate - you say Mr X can do it for 130 a day - in all probablity he lacks the experience and skillset onthe job resulting in a unhappy client.

Therres an old saying - if you pay peanuts - you get monkeys.