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RBS / ABN AMRO Contractor Rate Cut
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"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested." -
the rate riase was good, but the working from home option and the additonal paid 4 hours to travel to work on a weekend was a real bonus!Originally posted by Moscow Mule View PostI never really liked you...
SA says;
Well you looked so stylish I thought you batted for the other camp - thats like the ultimate compliment!
I couldn't imagine you ever having a hair out of place!
n5gooner is awarded +5 Xeno Geek Points.(whatever these are)Comment
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On the other hand, find the person who raises invoices for contract work (ie. the guy who makes sure your agency gets paid)...if you know him well you might be able to ask if the money being paid for your contract has been reduced.
One of the geezers in my team came and asked me why his rate had been cut as his agents were demanding he take a rate cut cause they were getting squeezed by the bank. Unfortunately for the agents, the geezer who rases the purchase orders for this other geezers contract was me (and no, nothing had been reduced)!
MailmanComment
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For me - contractual and tax arrangements are currently more important than the rate.
As long as I can continue to income shift, keep myself under the higher rate tax, and have a well written contract re IR35 then I'd be comfortable accepting a rate cut.
That said as I've posted before I'm facing the alternative "rate cut" of mandatory holidays yet to see how that pans out. And that route could be worth trying for those facing a cut - negotiate to work a capped no. of days per month on your old rate and there is a fair chance your client will ask you start working full time again sooner rather than later, by which time the fact you are still on your old rate will have been forgotten!Comment
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Just spoke to a friend at RBS (came in from ABN). They are very busy on integration stuff and no-one round him has been asked to take a cut.
Is the cut for all at RBS (including those from ABN)?Comment
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Repeat 3 times and then terminate, I think is the algorithm.Originally posted by DimPrawn View PostIf history is anything to go by, one rate cut is followed by another a few months down the line. Rinse and repeat.I'm alright JackComment
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If things were really bad they would terminate contracts annd offer permie role insteadOriginally posted by BlasterBates View PostRepeat 3 times and then terminate, I think is the algorithm.
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erm, they sacked loads of permies a month or two back...Originally posted by BrilloPad View PostIf things were really bad they would terminate contracts annd offer permie role instead
Older and ...well, just older!!Comment
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Originally posted by ratewhore View Posterm, they sacked loads of permies a month or two back...

The old adage is that when times get tough, they sack the permies and keep the contractors. if only it was true.Cooking doesn't get tougher than this.Comment
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Erm...Originally posted by BrilloPad View PostIf things were really bad they would terminate contracts annd offer permie role instead
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