Contract Re-Newal Decision

[kaiser78]

My current contract is up for re-newal and I am going to be offered another 3-6 months. I have been at clientco for 12 months now and accepted the contract on a lower than the average PM rate, which have increased over the last 12 months anyway.

2 considerations i) there is very little chance of a rate rise upon re-newal
ii) I am going to take a solid chunk of time off between next contract, at least 2 months to be at home.

So I have 2 options i) ask for the rise and if the answer is no, then do not re-new - it means I am giving up the lower day rate only anyway and get to have my block of time off over the summer. Then look for the next contract at the more realistic daily rate.

ii) take the re-newal whilst it is available ? I don't want to be stuck at the same place into next year with no rise and staying on this lower than average rate.

Thoughts welcome please.

[nomadd]

My current contract is up for re-newal and I am going to be offered another 3-6 months. I have been at clientco for 12 months now and accepted the contract on a lower than the average PM rate, which have increased over the last 12 months anyway.

2 considerations i) there is very little chance of a rate rise upon re-newal
ii) I am going to take a solid chunk of time off between next contract, at least 2 months to be at home.

So I have 2 options i) ask for the rise and if the answer is no, then do not re-new - it means I am giving up the lower day rate only anyway and get to have my block of time off over the summer. Then look for the next contract at the more realistic daily rate.

ii) take the re-newal whilst it is available ? I don't want to be stuck at the same place into next year with no rise and staying on this lower than average rate.

Thoughts welcome please.

FWIW: If you know you are going to be taking a break anyhow, just accept the extension. I normally take a 3 month break between contracts, so tend to stick with them until the client shows me the door (as long as either the client, job or rate aren't really bad.)

The way the current market and economy are, I'd just be grateful for the extra 3-6 months if I was you. Once this contract is finished, your "2 month break" could easily end up being 6-12 months, so think about that before refusing the extension.

Nomadd

[cojak]

FWIW: If you know you are going to be taking a break anyhow, just accept the extension. I normally take a 3 month break between contracts, so tend to stick with them until the client shows me the door (as long as either the client, job or rate aren't really bad.)

The way the current market and economy are, I'd just be grateful for the extra 3-6 months if I was you. Once this contract is finished, your "2 month break" could easily end up being 6-12 months, so think about that before refusing the extension.

Nomadd

WNS

Think very carefully before refusing...

[Wanderer]

I am going to take a solid chunk of time off between next contract, at least 2 months to be at home.

Try and negotiate the 2 months off into the contract. I've taken 4 to 6 weeks off during contracts before.

If you aren't happy with the rate, tell them. If they refuse to give you a rise then take the extension anyway but start looking for a new contract while you are still working the old one.

I wouldn't let the contract expire, take a break then look for a new one. You might be off work for longer than you expect or forced into a poor rate.

[lukemg]

Only turned a renewal down once, ended up benched for 4 months, it hurt more due to being self-inflicted.
I would push for a rise but not expect anything major, even a few % feels good to get though !
You should know your worth in the market by now and be able to tell if you can get back in easily. Also think about timing, Nov - Feb always seems grim for getting work (and always seems to be when I am looking !)

[TheFaQQer]

renewal FFS