Banks cutting contractor rate again

[stek]

They'd save much more if they stopped hiring developers at £500/day and just employed people. Keeping a large permanent pool of contractors seems to defy the point of using contractors in the first place.

FJS did that at DVLA, as did IBM for the architecting - kept people on cos they knew they'd both struggle to drag folks to Swansea, so folks sat there twiddling their thumbs on top dollar.

This last time they've let everyone go so the cycle will start again - Feb is next lump of work - rates offered will be pants, panic sets in, rate goes up and the same people end up there at the same rate - I know, done it twice!

Had an email on Fri from agent asking if I want to go back, I would but not on current rates! £269 is offered, last time I was there I was on just over double - these are AIX PowerVM SC cleared roles, not a huge pool of folks to pull from in fact its the same people every time I end up there....

This is another aspect of contracting noobs don't appreciate - finger on pulse, knowing the score, not saying yes on first offer based on previous - I know I say we are not really businesses but that is being a businessman, playing the game.

Night

[NorthWestPerm2Contr]

Currently at Radbroke not heard anything about any rate cuts..... Are these just rumours?

[Notascooby]

Agent supports the request for rate increase - - let the waiting begin!

[portseven]

Currently at Radbroke not heard anything about any rate cuts..... Are these just rumours?

About to interview for there, bloddy hope no rate cut the week after i start!!

Bumping up rate to cover...

[NorthWestPerm2Contr]

About to interview for there, bloddy hope no rate cut the week after i start!!

Bumping up rate to cover...

However much they claim this is not possible, it is indeed possible. It does remain a very difficult task though and you have to really stand out from the crowd (unless your the only serious candidate).

[Kanye]

Can I revive this slightly old thread?

I'm coming up to 3 years on an IBank contract, know the systems inside out and back to front, picking up lots of responsibility and doing more and more with less resource.

Would it be madness for push for a rate rise in banking in the current environment? There isn't much less to squeeze from the agent so they would have to pass it back to the client...

[northernladuk]

Can I revive this slightly old thread?

I'm coming up to 3 years on an IBank contract, know the systems inside out and back to front, picking up lots of responsibility and doing more and more with less resource.

Would it be madness for push for a rate rise in banking in the current environment? There isn't much less to squeeze from the agent so they would have to pass it back to the client...

You don't get if you don't ask but you have to have something to justify it. Knowing systems inside out is your job. If you didn't you would get walked so wouldn't really pull that one out. Taking on more responsibility makes me think, along with the three years (not because of this alone) you are going to fall foul of IR35. You shouldn't be picking up more responsibility unless your contract renewal is a new piece of work detailing this extra responsibility. Anything else is D&C. Less resource isn't your problem either, you are there to do fulfil the deliverables of your contract though I as I have just mentioned I think that has all gone wrong.

You can push, but you have to make a strong case and be prepared to walk. Any hint you are bluffing and either the agent will see straight through you and call your bluff. Need to think if you are going to go for £20 a day more or something more substantial. An agent may accept the lower one as you are nice easy money for him and he doesn't want to lose you. I very much doubt he will go back and argue a rate rise from the client for you. This one is going to come out of his pocket IMO

A bit of me thinks getting more will make you more of a target next round of cuts/culls but then the other half says they take a blanket approach rather than identifying individuals. Only you will know your client.

Sort out your IR35 issues first, taking what you said and adding some reading between the lines and loose assumptions you might be in an uncomfortable situation.

[Notascooby]

How you play it depends upon you're relationship with the client and agent - if you get on well with both then just ask, may as well be open and honest.

If you think you're rate is lower than those with the same role then you're on solid ground, if you're the same then maybe not so much.

Personally, I know that because the 10% cut put me on a figure just under a nice round number that the guys starting after the cut would be likely to be on the round figure putting me at the lower rate.

I also got asked to oversee these newer members taking on a TDA type role and freeing up the lead architect to manage upwards. So I used this to ask for my original rate back, which will put me above the new starts.

Hoping for a boom thread either today or tomorrow.

[LatteLiberal]

You don't get if you don't ask but you have to have something to justify it. Knowing systems inside out is your job. If you didn't you would get walked so wouldn't really pull that one out. Taking on more responsibility makes me think, along with the three years (not because of this alone) you are going to fall foul of IR35. You shouldn't be picking up more responsibility unless your contract renewal is a new piece of work detailing this extra responsibility. Anything else is D&C. Less resource isn't your problem either, you are there to do fulfil the deliverables of your contract though I as I have just mentioned I think that has all gone wrong.

You can push, but you have to make a strong case and be prepared to walk. Any hint you are bluffing and either the agent will see straight through you and call your bluff. Need to think if you are going to go for £20 a day more or something more substantial. An agent may accept the lower one as you are nice easy money for him and he doesn't want to lose you. I very much doubt he will go back and argue a rate rise from the client for you. This one is going to come out of his pocket IMO

A bit of me thinks getting more will make you more of a target next round of cuts/culls but then the other half says they take a blanket approach rather than identifying individuals. Only you will know your client.

Sort out your IR35 issues first, taking what you said and adding some reading between the lines and loose assumptions you might be in an uncomfortable situation.

You sound like a permie! You are running a business you can up your rate at any point for whatever reason, as many other business do. The client can choose to say no but you should never live in fear of your clients. You don't have to make a strong case, its your business and you can set the rate to whatever you like. Just as clients are fond of cutting rates without any reason, Attitudes like yours make contractors look weak and permie like, please stop giving advice.

I just got a 6 month extension starting January with 15% increase, never gave a reason just said it was my new rate.

[BrilloPad]

Would it be madness for push for a rate rise in banking in the current environment?

Get another gig with more money. Its the only language HR understand.