Day rate

[MicrosoftBob]

A thousand pounds an hour or die trying

[NotAllThere]

£550 a day? INKSPE.

[mudskipper]

What's your minimum day rate? I've just been offered some work at £5.50 ph and it's far more than my usual rate - is it worth it?
I've only been on the bench for two days so thinking I should hold out for more?

FTFY

[eek]

meh...

Look at me and my rate isn't interesting to anyone....

[rl4engc]

Mathematically speaking;

I've known people on a Day rate D. They get offered a new contract at Mo*D. They hold out because they think they are at least worth Mw*D.

Mo = Multiplier offered
Mw = Multiplier what they think they're worth

Mw > Mo > 0

Put quite simply, you begin to look like a bit of a dick, N months later and on the bench, because

N*20*(Mo*D) >> 0*(Mw*D)

[SunnyInHades]

550/day would be a very high for most (average daily rate 1 April 2015=450/day, Consultant IT Contracts, Contractor Rates for a Consultant) but low for a very select group of City types...

Quant Risk Analyst - London
Location London, UK
Rate £900/Day

contract Fixed Income Project Manager
Location City of London, UK
Rate £750 - £850 per Day

C++ derivatives?, years of experience
800-1000 day


1 April 2015 Averages
C#: £375
.NET: £375
C++: £475
Java: £450
Banking: £475

[kaiser78]

What's your minimum day rate? I've just been offered some work at £550 pd but it's far less than my usual rate - is it worth it?
I've only been on the bench for two days so thinking I should hold out for more?

Take it based on the solid reasoning you have provided.

[DannyF1966]

What's your minimum day rate? I've just been offered some work at £550 pd but it's far less than my usual rate - is it worth it?
I've only been on the bench for two days so thinking I should hold out for more?

I think you should turn it down and leave the opportunity open for another contractor who is maybe building up his reputation and career would be very grateful for a role that pays what you think is peanuts.

I've just been offered a role at a day rate I could have barely dreamed of when I was a permie, less than two years ago. A lot of people here, judging by some of the threads I've read, wouldn't have touched it with a bargepole. Fair enough, leave it alone, it just means there's less competition for me for when I do apply for it.

Disclaimer: I live oop north, where houses are tuppence ha'penny and there aren't any congestion charges.

[tomtomagain]

What's your minimum day rate? I've just been offered some work at £550 pd but it's far less than my usual rate - is it worth it?
I've only been on the bench for two days so thinking I should hold out for more?

Yes. You should hold out until you get an offer of at least 110% of your "usual" rate ( how else are you going to progress in the world? )

Or until you have to sell a kidney to pay your mortgage.

[TheLordDave]

Unless the client offers blowjob Tuesday's then walk.