How to maintain/increase a good day rate

[northernladuk]

You got lazy, sorry!

You should always be aware of the median market rate.
That way, you treat any higher difference as a windall, or bonus.

If you are used to an unusually high-rate, you are going to feel short-changed when going back to median rates. If you're not careful it might show in your demeanour at clientco.

Sitting around waiting for an equally higher rate means not earning, then your annual gross may come down.
Better to be invoicing than not. You never know, if you keep getting renewed, you might get increases, and be right back at the top.

Staying out of the game has too many pitfalls compared to being in.

Ultimately, up to you, though.

Nice bit of advice. Also never lose sight of how much better these 'below market' rates are than permie land. They hardly put you on the breadline.

[oscarose]

do a good job - simple

[Spacecadet]

It was to illustrate the point that I can't imagine any market supporting a 250% variation.

tulip Rate - £100 - £250
OK Rate - £350 - £875
Good Rate - £700 - £1750

Only the real bottom end of the market looks realistic there.

You have since partially answered the question by saying you are effectively in 2 markets, but even that makes depressing reading.

SQL Server Dev rates can vary from £200 to £500 and beyond
My first 2 contracts were just over the £200 mark back in 2006

[NorthWestPerm2Contr]

SQL Server Dev rates can vary from £200 to £500 and beyond
My first 2 contracts were just over the £200 mark back in 2006

My first contract was £250/day. I hope I never have to go back to that rate but if I am forced to then I will.

[lukemg]

All depends on personal circumstances I reckon. My annual earnings/invoicing graph is like the worlds scariest roller-coaster, fortunately I am at the top of a hump now but I have fallen off a cliff in the past (all knowledge and skills became routine and worth NMW + a couple of quid).
ALWAYS have one eye on the next 3-5 years, how is the market changing, can I setup a plan B (mine is investing in shares) to insulate me from this dodgy game.
Never start living at your top rate level, you need to be able to sleep at night if things take a downturn. Treat it as a fortunate bonus.

[psychocandy]

All depends on personal circumstances I reckon. My annual earnings/invoicing graph is like the worlds scariest roller-coaster, fortunately I am at the top of a hump now but I have fallen off a cliff in the past (all knowledge and skills became routine and worth NMW + a couple of quid).
ALWAYS have one eye on the next 3-5 years, how is the market changing, can I setup a plan B (mine is investing in shares) to insulate me from this dodgy game.
Never start living at your top rate level, you need to be able to sleep at night if things take a downturn. Treat it as a fortunate bonus.

Agreed. Even my bottom rate (which I'm on now) pays the bills. Nothing else mind.
But, as I've found it, a low rate in the hand is worth 1000x more than bulltulip promises of decent rates.

[d000hg]

The only ways your rate will increase faster than the market rate changes are:

1)Gaining more experience - over time you will become one of the most experienced around
2)Gaining new skills
3)Become a known specialist in a field

[jamesbrown]

You can access very high (effective) day rates through fixed price work, but they're generally very short-term contracts and they usually come from existing clients or from tenders (so, once you've factored in the time for the tendering process...).

[NotAllThere]

What I did was get a few clients who know me. I now work for them on a part-time basis. Most contractors (and their agencies) want a 5 day a week x-months contract. What clients often need is someone a few days per week or month. If you can fill that gap, you can charge a premium rate. If you can work for two clients in one day and charge both, you're really quids in.

[NorthWestPerm2Contr]

What I did was get a few clients who know me. I now work for them on a part-time basis. Most contractors (and their agencies) want a 5 day a week x-months contract. What clients often need is someone a few days per week or month. If you can fill that gap, you can charge a premium rate. If you can work for two clients in one day and charge both, you're really quids in.

That's an obvious solution but its a lot easier said than done. For a start those kind of clients are few and far between.