Can I ask for a rate rise...?

[ratewhore]

Any suggestions on when should i approch....my contract on papers ends 23 July....

It's a subjective thing. I tend not to bother until at least 2 weeks before renewal. Other's will differ.

[johngt]

It works like this:

1 - You tell the agent what rate you will be billing come renewal.
2 - You negotiate.
3 - You let the agent know, during said negotiations, that you don't care whether the agent cuts their margin or goes to the client as that's their business, not your's.

That's about it really, nothing to it. The hardest bit is knowing where your own line in the sand is...

Thanks all for your suggestions. I am feeling much better now and all set to ask for a Rate Rise....as suggested in rather a diplomatic way...hope it all work out ...

Any suggestions on when should i approch....my contract on papers ends 23 July....

[ratewhore]

Thanks all for you suggestions.

For example If i ask for a 10% rate rise, will the agency in turn speak to the clientco or will they take a cut on their margins as still they will be left with a good 10 % Margin...

I would like to be in a situation where agency cuts back their margin rather than clientco increasing the rate.....But i am not sure how it works....

It works like this:

1 - You tell the agent what rate you will be billing come renewal.
2 - You negotiate.
3 - You let the agent know, during said negotiations, that you don't care whether the agent cuts their margin or goes to the client as that's their business, not your's.

That's about it really, nothing to it. The hardest bit is knowing where your own line in the sand is...

[Durbs]

Thanks all for you suggestions.

For example If i ask for a 10% rate rise, will the agency in turn speak to the clientco or will they take a cut on their margins as still they will be left with a good 10 % Margin...

I would like to be in a situation where agency cuts back their margin rather than clientco increasing the rate.....But i am not sure how it works....

Aye, they'll speak to the client.

My last role was a long one with lots of renewals. Most renewals i wasn't really bothered about staying so i'd just tell the agent 'don't really fancy it, but would renew for another 20 a day, see what they reckon'. Each time, they came back asking me to write a note to clientco to explain how great i am and why i warrant a rate rise. Got the raise every time.

Tried it once mid-contract but no joy.

[SuperZ]

Thanks all for you suggestions.

For example If i ask for a 10% rate rise, will the agency in turn speak to the clientco or will they take a cut on their margins as still they will be left with a good 10 % Margin...

I would like to be in a situation where agency cuts back their margin rather than clientco increasing the rate.....But i am not sure how it works....

Agency will more than likely approach client for more money - even if they tell you otherwise they will still try to get the dosh out of the client.

[johngt]

Thanks all for you suggestions.

For example If i ask for a 10% rate rise, will the agency in turn speak to the clientco or will they take a cut on their margins as still they will be left with a good 10 % Margin...

I would like to be in a situation where agency cuts back their margin rather than clientco increasing the rate.....But i am not sure how it works....

[BolshieBastard]

Lots of clients dont agree to rate increases less than every 12 months. However, there can be exceptions if they think you're worth it.

You've also got to bear in mind the state of the contract market so they could refuse to consider your request on those two reasons alone.

Anyway, shy bairns get nowt so no harm in asking. If they dont agree, I'd stay where you are and wait for the market to pick up. Dont walk as some numpties will suggest.

[Fred Bloggs]

It mattters not what rate your fellow contractors are on.

Best way is to find another gig and resign : tends to focus everyone's attention.

That's right. In fact, mentally, you're far better off not knowing what others rates are. The way to judge your worth in the market is against what other offers you can generate in the market at the time. IMO.

[BrilloPad]

It mattters not what rate your fellow contractors are on.

Best way is to find another gig and resign : tends to focus everyone's attention.

[pmeswani]

Information asymmetry. If the clientco doesn't know that you can't afford to walk away then you'll be in a stronger negotiating position.

To add to this, if the client cannot afford to lose you, you'll be in an even stronger position.

EDIT: I think the OP should start applying for new contracts now whilst he negotiates with the client. Also, I believe the OP should not get complacent into hoping for long term work, otherwise he will fall into the trap of being a disguised employee.

[Menelaus]

Hi, thanks for your reply. But the problem is i just cant afford to walk away as looks like a promising role in terms of the length of the contract....so its kind of a catch 22 situation.

Information asymmetry. If the clientco doesn't know that you can't afford to walk away then you'll be in a stronger negotiating position.

[johngt]

If the agent refuses, speak to the client and advise them that when you took on the role, you didn't expect to take on the responsibilities you have. If they say no... then walk away from the role and look for something else.

Hi, thanks for your reply. But the problem is i just cant afford to walk away as looks like a promising role in terms of the length of the contract....so its kind of a catch 22 situation.

[pmeswani]

Hi Guys,
I am on a contract Since April this year and is until end of July and orally it has been confirmed until end of Dec or may be even more. When I accepted the offer the role was a generic role and now the work I am doing is more in a specialised area and the rates are normally much higher. I always end up working extra hours and still charge a professional day.

Ok, now my question is I think the rate I am getting is not a fair , considering the fact that the agents mark up on me is 20% (I know it as the agent by mistake sent the contract between them and the company to my inbox....), and all the other fellow contractors make at least 10-15% more that my rate.

So can I and at what point do I ask for a rate rise? And what if the agency plays threaten game ...saying client might not accept and I am asking for too much...I am after your advise folks. Thanks in advance.

If the agent refuses, speak to the client and advise them that when you took on the role, you didn't expect to take on the responsibilities you have. If they say no... then walk away from the role and look for something else.

[johngt]

Hi Guys,
I am on a contract Since April this year and is until end of July and orally it has been confirmed until end of Dec or may be even more. When I accepted the offer the role was a generic role and now the work I am doing is more in a specialised area and the rates are normally much higher. I always end up working extra hours and still charge a professional day.

Ok, now my question is I think the rate I am getting is not a fair , considering the fact that the agents mark up on me is 20% (I know it as the agent by mistake sent the contract between them and the company to my inbox....), and all the other fellow contractors make at least 10-15% more that my rate.

So can I and at what point do I ask for a rate rise? And what if the agency plays threaten game ...saying client might not accept and I am asking for too much...I am after your advise folks. Thanks in advance.