Reply to: Bank of America Merrill Lynch Contractor rate cut

[unixman]

Except that they all have rate cards so that's not an option.

" We don't have any choice about what we pay people. We aren't capitalists, you see ".

Actual lol.

[nomadd]

One of them approached me last year after I suffered a rate cut there a few years earlier. I put in at £50 more than I went in on last time to pre-empt the rate cut. Didn't hear back

£50 / hr is quite an increase, though.

[LondonManc]

One of them approached me last year after I suffered a rate cut there a few years earlier. I put in at £50 more than I went in on last time to pre-empt the rate cut. Didn't hear back

[northernladuk]

On reflection, there are two companies on this list that I did take a gig with and guess what ... I got a rate reduction from them.

For me it's lesson learned.

Question is... If you knew it was going to happen would you have taken the gig?

[BrilloPad]

MOO
RoS
D&C

I'll let you google those TLAs...

Can I search for those using the CUK search function?

[northernladuk]

The contract breakers list - clients on this list are effectively saying "Please charge us 15% more from the outset".

Except that they all have rate cards so that's not an option.

[fool]

The contract breakers list - clients on this list are effectively saying "Please charge us 15% more from the outset".

If you can charge 15% more you should be charging 15% more, irregardless of who the client is.

[unixman]

The contract breakers list - clients on this list are effectively saying "Please charge us 15% more from the outset".

[cojak]

What the these flags you speak of? *checks box of flags*

MOO
RoS
D&C

I'll let you google those TLAs...

[heyya99]

It will be useful as it shows you are exposed to risk above and beyond a permie but it's still not up there with the three main flags. A disguised permie inside IR35 also gets hit with this as well so isn't a get out of jail card. Definitely one to be stored in the evidence file though.

What the these flags you speak of? *checks box of flags*

[northernladuk]

Out of interest, would a rate cut like this be good for IR35?

It will be useful as it shows you are exposed to risk above and beyond a permie but it's still not up there with the three main flags. A disguised permie inside IR35 also gets hit with this as well so isn't a get out of jail card. Definitely one to be stored in the evidence file though.

[ShandyDrinker]

Out of interest, would a rate cut like this be good for IR35?

I don't think it would make any difference.

Although the (failed) business entity tests did have the brilliant "Client Risk Test" whereby if you were unable to recover over 10% of turnover due to non payment you were should obviously score highly... rather than being considered rubbish at risk management!

[gables]

Out of interest, would a rate cut like this be good for IR35?

[BrilloPad]

Well mail the site and tell them. They can only put on what they hear and can't always be proactive.

The last bank I worked for me made me redundant from permanent job. I think I might just email that site out of spite for my last job. How do they check?

[MrMarkyMark]

Rate cuts, furloughs certainly don't happen for all.

I have never had a furlough, or even being asked, even though others have at the same IB client co.
My friend has dodged both, over the years, even though others have been subject to both at his IB client co.