Did you take a lower rate for your 1st contract?

[ChrisPackit]

I was contracting from 1998 through to 2003 and then had 5 years out doing a Plan B. When the Plan B went tits up, the only thing I could consider doing was going back into contracting but with no experience in the last 5 years I probably wasn't a good prospect. So I went in at £160 / day at a FTSE financial just to get my feet back under the table. Within a year, I was back on over double that and more towards what is a good rate for my skillset in the North West. I may have never got back into it had I stuck out for £300+ per day after such a long time out.

I would say market yourself accordingly to make yourself look attractive whatever that may entail...

[TraceRacing]

I've contracted once before but in reality I've spent most of my life in permiedom.

I start my first "real" contract next week and TBH the rate is lower than I would like (but only by 10%). However it's with an ex-employer (HP), is 10 mins from home and the contract runs until August next year. My view is that it will allow me to clear some significant debts and start to build a warchest. I may even deceide to leave before August if something good comes up next spring, but I'm planning to do at least 6 months there.

Of course, if an extension looks likely (and I'll know as the PM) then I may hang in past August and negiotiate a better rate... best of both worlds!

I think when it comes to rate you have to factor in the cost / time taken to get to work. If I had to work in London, then I'd need more than the 10% shortfall just to cover travel costs as well as having to catch a train at 7am to be in the office by 9... and only home 12 hours later... x / 8 > x+10% / 12

[GillsMan]

Watch out for the agents - they like to take a big fat cut out of newbies on their first contract. If the client is willing to discuss rates directly then that's a good way to keep the agent honest. But tread very carefully on this one...

That's exactly what happened to me. Was put in at £350, but agent said client wanted to pay less as I didn't have experience of the Insurance industry, so I ended up on £315. Was fine, but I did get a number of renewals (three months lasted 12 months) and on the two occasions I brought up rate increase, he flat-batted it. Fair enough, I was happy with my rate, and it was my first contract so I wasn't overly bolshy.

Found out recently, he was getting £400 per day, so was getting a 21.25% cut, which I think is taking the piss to be honest.

Still, I got the last laugh, because ex-client has now commissioned me to do some extra work for them. Direct. Sans agent.

[NotAllThere]

My first contract was a heady £25 an hour (long time ago). Chatting to the client after being their a few months, the were surprised it was my first contract, as they'd have been wary of taking me on if they'd have known. (But they were glad they did take me on). The reason they didn't know was that I'd had two short-term permie jobs before going contracting.

A few years later I went permie to gain a valuable skill. When I went back into contracting, the agencies tried, unsuccessfully, to lower the rate on the grounds of me being a first time contractor.

Anyway, clients and agents can be a little leery of newbie contractors, because they may, to some extent, not have the required (perceived) mindset. Of course, agents will also take advantage of your naivity to screw the rate down.

[bobspud]

Funnily enough, no agent has ever tried to talk me down from £400 even though they know I am moving from permanent. They all say "spot on" when I quote £400, and once I even said £450 to take the p*** and the guy still said spot on . So I am at a bit of a loss as to why clients don't like my CV.

Because they probably don't get to see it... Its a relatively new problem (last few years), however agents now regularly put forward their C.V quota (normally no more than 2 or 3 people), and then hedge their bet by trying to mop up the other top players on the market, by calling them telling them they have a great C.V and rate and that the agent will represent them and put them forward. If the Role has been out a few days and the skills are fairly generic then its a fair bet that the person you are talking to is just making sure you don't turn up against their candidate...

Sorry. Call it a learning experience.

If you are really desperate to keep in work, then try my method...

Agent: "What's your rate?"
Me: "What rate to you want me to quote you that will keep me in work?"

This tends gets you an interview most of the time.

If you don't like the rate, Then you bank the interview and keep looking...

[Rabotnik]

Because they probably don't get to see it... Its a relatively new problem (last few years), however agents now regularly put forward their C.V quota (normally no more than 2 or 3 people), and then hedge their bet by trying to mop up the other top players on the market, by calling them telling them they have a great C.V and rate and that the agent will represent them and put them forward. If the Role has been out a few days and the skills are fairly generic then its a fair bet that the person you are talking to is just making sure you don't turn up against their candidate...

Sorry. Call it a learning experience.

If you are really desperate to keep in work, then try my method...

Agent: "What's your rate?"
Me: "What rate to you want me to quote you that will keep me in work?"

This tends gets you an interview most of the time.

If you don't like the rate, Then you bank the interview and keep looking...

That's despicable behaviour if that's what they are really doing

I was thinking of just telling the agent I will take a cut if necessary on a decent paying role, but then I thought they would just pocket the difference, like if I said I will drop from 400 to 300 they will say thanks and still charge the client the same amount but then keep the extra 100 quid.

[bobspud]

That's despicable behaviour if that's what they are really doing

I was thinking of just telling the agent I will take a cut if necessary on a decent paying role, but then I thought they would just pocket the difference, like if I said I will drop from 400 to 300 they will say thanks and still charge the client the same amount but then keep the extra 100 quid.

In 2008 I finished in October and didn't see another job till April 2009... That was all down to the fact that I wouldn't budge on my rate before the Market dipped in the winter. At the end of the day the agents run the show for the moment so you need to decide if you want to wait for the big cash or take actions to make the agent want to use your cv.

[darmstadt]

My first contract after 5.5 years of permie was the heady sum of GBP5.50ph and I had to do shifts but I took it so that I could get a foot in. The next one was double that...

[rashm2k]

I was contracting from 1998 through to 2003 and then had 5 years out doing a Plan B. When the Plan B went tits up, the only thing I could consider doing was going back into contracting but with no experience in the last 5 years I probably wasn't a good prospect. So I went in at £160 / day at a FTSE financial just to get my feet back under the table. Within a year, I was back on over double that and more towards what is a good rate for my skillset in the North West. I may have never got back into it had I stuck out for £300+ per day after such a long time out.

I would say market yourself accordingly to make yourself look attractive whatever that may entail...

May I ask what kind of work you do in the North West? I'm thinking of moving back to the North West (I've only got 2 years experience and probably stay a permie for at least another year). But want to know whats available in North West?

Thanks

[wantacontract]

Yup. £190 a day....Actually thought it wasn't bad money! (I did live 5 mins away the time as well)

Didn't go through an agent, called up a company where I use to be perm and that was the offer....

I took it.....and been contracting ever since.

crazy how greedy you can get, as I would never work for that now.