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Reply to: Rate increase - how much to ask for?
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Previously on "Rate increase - how much to ask for?"
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If I knew I could get a 40% increase and it was actually truly available, then I'd be off like a shot and then take 4 months off once the contract finished and enjoy all the extra mula I had earned with the wife.
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Originally posted by dmo View PostI find myself in this very situation. Accepted a rate well below market, renewed at the same unchanged rate, now I'm looking for more (although not 25% or even 40%, I was thinking 2x what I'm currently on, as I bring a lot more to the table now). It was my first contract experience, so took what I could.. not sure how to go about it all though
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Originally posted by jsnetman View PostI asked for a 25% increase on my last renewal, was told by other contractors no way would I get it and should ask for somwhere between the inflation rate and 10% extra. My argument was that my rate was well below published daily rates, it was my first contract and took it on on a fairly low rate. The client agreed and gave it to me, if you don't ask you won't get.
Have to admit though 40% sounds a bit steep.
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If they feel they can't manage without you they may feed they have to accept. However I doubt they'd be happy and would likely try to make sure you are no longer irreplaceable for next time.
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I got a 33% increase at renewal at my last gig. But... they got me cheap - I accepted as I had been on the bench for a while - and at renewal they understood that I was worth the extra. Have been doing other work for a couple of months and am now trying to negotiate an extra 10% to return for a small piece of consultancy, but my expenses will be considerably higher because I can't get season tickets for the long journey for the odd days they want me for.
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I asked for a 25% increase on my last renewal, was told by other contractors no way would I get it and should ask for somwhere between the inflation rate and 10% extra. My argument was that my rate was well below published daily rates, it was my first contract and took it on on a fairly low rate. The client agreed and gave it to me, if you don't ask you won't get.
Have to admit though 40% sounds a bit steep.Last edited by jsnetman; 13 September 2012, 12:13.
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Originally posted by escapeUK View PostMy electric bill has gone up vast amounts several times. Its called market rate. You can try and switch suppliers but the chances are they will have put their prices up too or just be about to. Having got a good contractor that you know can deliver do you risk getting someone else is, who might be rubbish, or find that everyone else in the market is charging the same rate the old contractor wanted?
I got a 33% increase at xmas, just by saying I wanted it, and that I thought it was a reasonable price in the market, and I was quite willing to test my belief in the market place.
Collectively, we whinge about tight clients, thieving agents and unfair taxation ad infinitum. This is OK amongst ourselves but I don't think outsiders care much about our 'woeful plight' and extreme or unreasonably exaggerated demands only serve to feed negative views of indigenous UK contractors.
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Originally posted by quackhandle View PostIn my last gig the guy who hired me was a contractor as well (infrastructure manager) was also direct. He was on a decent daily wedge but the client wanted to reduce the daily rate but still keep him. Yeah go figure!
He agreed to the 10% rate cut but got it in his contract that he could WFH two days a week. (Mon-Fri)
But hey, you don't ask you don't get. Or you find another gig.
qh
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In my last gig the guy who hired me was a contractor as well (infrastructure manager) was also direct. He was on a decent daily wedge but the client wanted to reduce the daily rate but still keep him. Yeah go figure!
He agreed to the 10% rate cut but got it in his contract that he could WFH two days a week. (Mon-Fri)
But hey, you don't ask you don't get. Or you find another gig.
qh
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Originally posted by Taita View PostGood for you but your opinion must coincide with the client's view or it does not count for much.
Why do we get so carried away with rates? What would you say if your rail fare went up by 40% or your electric bill went up by 40% on contract renewal?
Do you really think your demand will be empathetically received by a manager in a permanent job who is unlikely to have had his salary increased by more than 10% in total over the last 3 years?
Originally posted by PorkPie View PostIf you want justification without having altered your output/productivity, then plump for a cost of living increase based on whichever inflation measure you choose. Still not likely to get it though....Last edited by escapeUK; 12 September 2012, 20:08.
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If you want justification without having altered your output/productivity, then plump for a cost of living increase based on whichever inflation measure you choose. Still not likely to get it though....
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Originally posted by knight007 View PostYes I would say I'm more than 40% better than I was 12 months ago.
Why do we get so carried away with rates? What would you say if your rail fare went up by 40% or your electric bill went up by 40% on contract renewal?
Do you really think your demand will be empathetically received by a manager in a permanent job who is unlikely to have had his salary increased by more than 10% in total over the last 3 years?
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Originally posted by knight007 View PostI know that there is a big demand for my skills at the moment and there are places that are willing to pay 40% more that what I currently get.
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