2 x contract offers. How to bide time

[scoobs]

Hi All,

First post and apologies in advance if this question has been asked in the past. I have my own ltd company and relative newbie to contracting (just under 2 years).

OPTION 1
Client 1, having conducted a telephone interview last week, face 2 face went well, offer made yesterday.

Rate is £450 outside IR35,
contract 6 but strong possibility to extend.
Will need to conduct vetting basic criminal check etc.
start date: 2 weeks time.

OPTION 2
Client 2 - Offered me a contract a month ago. However depsite budget being approved, this got pulled in the last minute. Still extremely keen and have tried to get this sorted. As an alternative have put me forward for another role and have now pretty much offered the role having spoken to them over the phone (budget approved). They are keen to have me onboard so in light of client 1's offer are fixing a meet and greet/interview as soon as possible.

Rate £550 outside IR35
Contract 6 but likely to extend
Compliance vetting, meaning will start maybe a little earlier than Client 1
Contract: NOT offered yet formally.

In writing the above i'm thinking option 1. As this is a firm offer. I have taken a hit on the rate though. Client 2 is a far better rate and i know they tend to extend. Both big companies. I'm just nervous slightly with the experience of Client 2 whether something else may happen. In contracting you never know but what would you do.

I was thinking i accept client 1. To kick of the process and avoid risking loosing a firm offer plus Client 2, despite the signals and comms suggesting the offer is imminent, it's not and until i see that paper i wait. If it does come through and looks solid, i can switch to client 2.

Thanks in advance,

Scoobs

[WTFH]

You've not mentioned location, travel, etc. Are there any other relevant factors?

Are they both direct or through agents?

[GhostofTarbera]

Option 2


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[northernladuk]

Option 1

[fullyautomatix]

There is absolutely no dilemma here, go for option 2 with the higher rate. Never under sell yourself or lower your rates.

[northernladuk]

There is absolutely no dilemma here, go for option 2 with the higher rate. Never under sell yourself or lower your rates.

I think the OP already knows this what with his post containing no information on other relevant factors as WTFH said.

[Lance]

Tell client 1 you've been offered £600 by client 2, and would they like to come closer to that figure, as you'd really like to work with them.

[WordIsBond]

Sounds like you told client 2 about the first one and so they are trying to expedite things.

Have you told client 1 about client 2? Maybe they'd come up to £500.

If rates were even and both offers were firm, which would you choose?

You have to decide what is important to you and how much it is worth. Is a 'sure thing' really worth £100 / day? It might be if you have no reserve for bench time. It might not be if you can afford to have some time off.

Location, work you enjoy, certainty, likelihood of extension, which looks best on your CV in future, these all have some value. But you are going to have to compare the different roles and decide, of the things that are different, how much each of those is worth to you. Nobody else can tell you what you should value, and how much you should value it, that's on you.

Add those values up, and make your decision. But don't forget that having two options can put you in a strong negotiating position. If the role you prefer falls a little short, tell them you've got another offer you'll need to take if they don't come up with a little more. If they do come up with more, take it and enjoy, if not, take the other.

[simes]

There is absolutely no dilemma here, go for option 2 with the higher rate. Never under sell yourself or lower your rates.

Not sure I agree here.

Starting today on £450/day for six months vs starting one month down the road on £550 means you will be playing catch up on earnings from the £550 gig.

I would tend to go for the first thing that concretely offers, and negotiate up while in.

[WTFH]

Not sure I agree here.

Starting today on £450/day for six months vs starting one month down the road on £550 means you will be playing catch up on earnings from the £550 gig.

Yes, 4.5 months to recoup it