I want more money!

[Bumboclot]

Renewal time and I’m starting to get greedy. I am thinking about increasing my rate by just under 20%.

The client is very happy with my work
The extension will be a slightly different piece of work demanding more in the market place.

The moral dilemma I have is that I’m happy with my rate but currently have pound signs fluttering in my eyes and a new car to buy!

Anyone ever said they wanted a rate rise, got refused but signed the renewal, I fancy just trying it on.

[PerlOfWisdom]

Only times I've got a significant rise were when I was willing to leave if I didn't get it.

[Bumboclot]

But surely I can just say i'll leave but if push comes to shove roll over and sign the contract

[malvolio]

I've said this before - doing the job well is not, in most managers' eyes, a reason for you to get more money. Doing it well is what you're being paid for.

If you want to argue for a raise (and +20% is silly, BTW, in the current market), either prove you are delivering well above requirement, or that the market rate for your role has gone up by that much - which implies another offer at the new level and the line about "I'd rather stay here, but I've been offered...".

It's your call, obviously, and you know the client. But be prepared to end up with nothing - including no contract. It is not unknown to drop good people that didn't understand the combination of economics and "No" and continued to push.

[Bumboclot]

Malvolio I know you like putting your management hat on in these cases, but surely I'm fully within my right to change my rate for offering services. Even if it's the same service.

That said, I signed the original contract below market rates and the rise will take me up to market rates.

I can't see why it's not worth trying even if they say no and think that I'm a greedy git, so what I’m not here to win friends it's business.

[malvolio]

I'm not saying it's not justified, and clearly I'm not in a position to judge. What I am saying is that that's the counter-argument you will have to defend against to get what you want and the risk you face if you get it wrong. And you already seem to have one counter-argument in place.

Anyway I can't not put a management hat on, it's the only one I have these days. Since most of our co-conspirators are not in the budget-holding, business managing world, it does no harm to inject a dose of realism once in a while. But then, if you don't want advice, why ask in the first place?

And FWIW I did get a 5% rise at my last renewal, against exactly those arguments.

[ratewhore]

Interesting. You say you're happy with your rate then go on to say you signed for below market rate.

I just got me a 15% raise taking me to the highest rate I ever got. I think there is value in knowing the environment, project, people, technologies but there are others (such as the hiring manager) who may disagree. Plus I know the client can't resource the role internally so that gave me leverage.

Just lay out what your proposing to the agent (after all, you have no direct relationship with the client) and let them argue their case to the client. The agent may have to accept you proposal, maybe financed jointly by upping the rate to the client and/or cutting into their margin.

But, as Malvolio says, you may end up flat on your arse if you push too far. Be professional and business like in your dealings and have evidence to justify your rate rise.

[expat]

surely I'm fully within my right to change my rate for offering services.

Of course you are. And the client is within his rights to decide whether to accept it or not.

Malvolio was only sensibly warning you that the client may make a decision about that based on more than a calm economic consideration. He may not rationally assess the market for your skills - to him, "the market" may be you, on your old rate.

you'll never know, unless you try. But remember, if you don't really want to walk if need be, you're not playing the market, just playing poker.

[malvolio]

Actually, re-reading you original post properly, if the role is changing significantly , then it's not a renewal, it's a new piece of work, which may attract a different rate. Good anti-IR35 pointer as well, if you can work it that way.

[Bumboclot]

you'll never know, unless you try. But remember, if you don't really want to walk if need be, you're not playing the market, just playing poker.

I'll try a bit of poker but know when to call it a day. Lets see what happens next week.

Thanks folks