Reply to: Busted

[Dante]

I would definitely try and negotiate a 50/50 reduction with the agency.

Then I would take a step back and think "Would I apply for this role at this (reduced) rate?"

If it's a yes, then hang on in there - until you find a better one...

Better the money going in to your account than someone elses.

[NickNick]

If only that were possible

[Paddy]

That's 10% slower working.
10% longer in the bog.
10% more surfing.

[Epiphone]

I have had a few contracts with zero notice on their part (now the norm in my experience) and no right to terminate on my part.

It's the norm, doesn't make it nice though.

[BrowneIssue]

So the agency can bin you with 7 days notice but you can't leave at all? Sounds like slavery.

I have had a few contracts with zero notice on their part (now the norm in my experience) and no right to terminate on my part.

[Epiphone]

So the agency can bin you with 7 days notice but you can't leave at all? Sounds like slavery.

[NickNick]

First thing I did was to suggest that the rate cut was split between agency and myself, and also that they insert a notice period to allow my ltd co to give notice. (agency have reduced their notice period to 7 days)

I was told to feck orf on both counts. Upshot is i will accept the deal until the end of this contract and if there is an extension, use that to bargain for a notice period / inform them of my rate increase.

[Epiphone]

Suggest to the agent you split the reduction 50/50.

[Grinder]

What is your notice to them? Can you try to get notice on your side aligned with the 7 days?

I would definitely sign and continue at 90%, and look for something new if you really don't like it. No point in showing your hand earlier than you need to.

Where I was working until January, there was a 10% cut across the board - and one agency imposed 15% on contractors to preserve pay for their permies. Now that would be annoying!

[oliverson]

Happened to me about a year ago with one of the big banks.

What particularly miffed me was the fact that I received notification of my 10% cut on the first day I started!

Despite fighting my corner for a couple of months they wouldn't back down so I left and took a holiday. In hindsight it could have been a disastrous move as whilst I was sat on my sunbed the proverbial hit the fan (Lehman's went under). Luckily I landed a better contract but the rate was the same as the post-cut rate. Much better environment though and I'm still here, for another couple of months at least.

Fingers crossed the market picks up for all concerned as I know how stressful it is (no war chest!).

[NickNick]

Check with the client that they are indeed cutting rates and that it's not just the agency pulling a fast one.

Yep, done that and it's all contractors across a couple of agencies

[Tensai]

This could have been a thread about the boy band Busted reforming

Nooooooooooo........ when did they break up? [sob]

Sorry to hear that : not good news.

But 90% of old rate is better than nothing : IMO next year things will be different. Hold on in there!!

WHS +1. While companies are holding off on IT spend there is a list of projects that need doing that's growing all the time... and when the money's available again they'll be fighting for people to implement them. Future boomed

[NotAllThere]

Ask them if you can work fewer hours for the same hourly rate (or fewer days for the same daily rate). Some clients are quite happy with this, as what they really care about is the budget. It depends on the nature of the contract of course, but if you can do it, it gives more time to work on plan B.

I'm currently working 3-4 days a week for this very reason.

[ChimpMaster]

Check with the client that they are indeed cutting rates and that it's not just the agency pulling a fast one.

[thelace]

Sorry to hear that Nick. No one likes an enforced pay cut.

However, in this current climate, it may could have been much, much worse....

This could have been a thread about the boy band Busted reforming