Reply to: Contract through a recruitment agency

[seanraaron]

From an agency take of £500, you should be looking at an absolute minimum of £400 (i.e. 20% margin). I reckon 10-15% agency margin is ok, so would be looking to take £425-450 from that £500. Of course, one probably doesn't know the agency rate until the contract has started, but use this knowledge to re-negotiate at renewal time.

Good call. I only found out the full details when I started asking about pay dates and all that. I think my umbrella might have unvieled the full deal. To be honest I was surprised I got shown behind the curtain.

[fidot]

From an agency take of £500, you should be looking at an absolute minimum of £400 (i.e. 20% margin). I reckon 10-15% agency margin is ok, so would be looking to take £425-450 from that £500. Of course, one probably doesn't know the agency rate until the contract has started, but use this knowledge to re-negotiate at renewal time.

[seanraaron]

So are you at NAG? which agency are you with?

Cathcart Associates. Not thrilled with their 28 days in arrears payment either, but it was my only offer on the table after a few interviews and November and I was keen to eat as little of my redundancy money as possible.

[jmo21]

Well I obviously don't know any better, so what is a reasonable agency cut?

I have been thinking of re-neg come extension time, though I know that's in no way certain to go anywhere.

So are you at NAG? which agency are you with?

[northernladuk]

Well I obviously don't know any better, so what is a reasonable agency cut?

Try the search method explained in the welcome section of the forums. It depends and we've been through all the dependencies plenty of times.

As a rule of thumb have a think how work the agent does per day and how much you do......

[seanraaron]

Well I obviously don't know any better, so what is a reasonable agency cut?

I have been thinking of re-neg come extension time, though I know that's in no way certain to go anywhere.

[stek]

Seems a fair reflection of the situation to me.

Aye but I haven't bothered reading the thread, so it's fair enough!

[northernladuk]

I'd say that WAS totally outrageous!!

Seems a fair reflection of the situation to me.

[stek]

I know they're getting £500 total; I'm getting £292 of that, so it's not totally outrageous.

I'd say that WAS totally outrageous!!

[seanraaron]

Wasn't trying to boast, just pointing out that there are plenty of banks offering in the 400-500 range in Scotland.

You're correct that they pay less in Scotland, but wrong in how low they generally are.

Which bank is this with? It sounds like the agency has taken advantage, which you do admit. Unfortunately, they might be taking even more than you initially feared.

I know they're getting £500 total; I'm getting £292 of that, so it's not totally outrageous.

I'm also trying to stay close to home in Glasgow; have a feeling I'd do better in Edinburgh if only because there's more financial companies there, but better/cheaper commute is worth it to me.

[jmo21]

Smashing, jolly good for you, well done.

I'd like to think I'd get something in the area of £400 eventually after some time in the market, but £300-£350 was what people were coming at me with. Haven't heard anyone offering higher in Scotland; if you can get it that's super.

Wasn't trying to boast, just pointing out that there are plenty of banks offering in the 400-500 range in Scotland.

You're correct that they pay less in Scotland, but wrong in how low they generally are.

Which bank is this with? It sounds like the agency has taken advantage, which you do admit. Unfortunately, they might be taking even more than you initially feared.

[seanraaron]

Even banks in Scotland are paying £400+

I had £400 at RBS recently, JP Morgan pay 400-450, HSBC in Stirling pay similar.

Smashing, jolly good for you, well done.

I'd like to think I'd get something in the area of £400 eventually after some time in the market, but £300-£350 was what people were coming at me with. Haven't heard anyone offering higher in Scotland; if you can get it that's super.

[jmo21]

It's Scotland which is cheaper than London rates for sure, but I probably could have gotten £350 if I wasn't as green. Other factor was that the job is outside my core skills area. Frankly at more than %50 over my perm rate I don't feel hard done by. My biggest issue is that there's not much going on, really.

Even banks in Scotland are paying £400+

I had £400 at RBS recently, JP Morgan pay 400-450, HSBC in Stirling pay similar.

[seanraaron]

Are you sure you don't mean your income to the LTD would be your old salary?

Umbrella'ed and I can't really see a reason not to do that for the foreseeable future.

[northernladuk]

Thanks and believe me I'm reading all threads of interest and prepping for my next agency sit. If I worked a four day week I'd be making my old salary so I'm well-aware of the sick/holiday bind. I really need to keep ahead so I can build that savings, but between bank holidays and my kid's school hols this is going to be a challenge I can see already.

Are you sure you don't mean your income to the LTD would be your old salary?