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Strategy to reducing my rate

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    #11
    Originally posted by BolshieBastard View Post
    When the market is bouyant, there's little harm in quoting your preferred rate and some more. The danger comes when the market is not bouyant and is, in fact, in decline.

    Quoting a rate up front to an agent means you are likely pricing yourself out of the market even after you've danced around their questions.

    People used to depend on their warchest to sit out dips in the market. But, if you're holding out for £550 a day down from £600, there's little point (imvho) sitting at home scratching your arse and burning through the warchest if the market for your skills is down to sub £400.

    Never forget, a low rate is better than no rate, an inside IR35 rate is better than nothing and it is only your pride that's being damaged.
    The issue with this type of thinking is that if you don't have a family nor dependents then you're better off widening your target market to: the world. If everybody lowers their rate and just accepts being treated like muck by clients then that's exactly what facilitates a vicious circle that will see no rate increases for many years to come.

    This week RBS have broadcast many roles, some senior, inside IR35 @ £360 to £380/day. I don't really care how large your ego is, if you perform a senior role for that rate and bring the market down with it then you're a mug. Then again I'd also suggest you're a mug if you don't have a six figure war chest from performing senior roles for many years as a contractor, so: you make your bed and must lay upon it - the true answer to this thread is that if you're desperate then you'll do anything. The trick is not to become desperate through solid financial management.

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      #12
      don't. if you are good enough(telling people what they want to hear, do well at interviews and whatever they assess there) you'll get the role anyway. be flexible enough so that agent puts your cv forward but not too much to sound desperate.
      agents are sensing the boat is sinking so they are trying to fill their boots. if market goes even at 30% of what it was plenty of them will end jobless.
      Last edited by GigiBronz; 17 January 2020, 22:02.

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        #13
        Some interesting food for thought here..

        The main reason I was thinking of lowering my rate was because I felt I was lucky enough to be in the higher end of the spectrum of late.

        I know that most contractors with my skills are sitting around 525-565 region really, especially across various sectors. I was operating in a particular area with good experience.

        Now that I am looking at the broader market, I am thinking that I may need adjust my expectations.

        I know you say there is really only one rate.. but it does fluctuate I would say.

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          #14
          Originally posted by password View Post
          Some interesting food for thought here..

          The main reason I was thinking of lowering my rate was because I felt I was lucky enough to be in the higher end of the spectrum of late.

          I know that most contractors with my skills are sitting around 525-565 region really, especially across various sectors. I was operating in a particular area with good experience.

          Now that I am looking at the broader market, I am thinking that I may need adjust my expectations.

          I know you say there is really only one rate.. but it does fluctuate I would say.
          Let us know when you land your next contract and the rate please

          I’m betting July £375


          Sent from my iPhone using Contractor UK Forum

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            #15
            Originally posted by GhostofTarbera View Post
            Let us know when you land your next contract and the rate please

            I’m betting July £375


            Sent from my iPhone using Contractor UK Forum
            I'm not in fire sale mode.... just trying to figure out if I need to reduce my rate and if so, how to go about it.

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              #16
              Originally posted by password View Post
              I'm not in fire sale mode.... just trying to figure out if I need to reduce my rate and if so, how to go about it.
              For the initial contact on a contract just make sure you're not outside the range they advertise. Then it's a matter of demand. If you're inundated with calls you go to the high end, if not then be flexible, i.e. quote the high end but mention you're flexible or give them a range.
              I'm alright Jack

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                #17
                Originally posted by BlasterBates View Post
                For the initial contact on a contract just make sure you're not outside the range they advertise. Then it's a matter of demand. If you're inundated with calls you go to the high end, if not then be flexible, i.e. quote the high end but mention you're flexible or give them a range.

                I usually just say XXX (high end), "or that kind of ballpark" which is basically saying, "try me".. and sometimes they say that is fine, or we settle for a little less (lower end of my expectation, which is fine by me).

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                  #18
                  Strategy to reducing my rate

                  Originally posted by password View Post
                  I usually just say XXX (high end), "or that kind of ballpark" which is basically saying, "try me".. and sometimes they say that is fine, or we settle for a little less (lower end of my expectation, which is fine by me).
                  I did this back in the day

                  I.e before this year when market crashed


                  Sent from my iPhone using Contractor UK Forum

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                    #19
                    Originally posted by GhostofTarbera View Post
                    I did this back in the day

                    I.e before this year when market crashed
                    Now we are all here, trolling this forum.
                    Waiting for 12pm to have the first glass of wine. (if we happen to wake up before that)

                    I am not joking about this but I was getting bored before the holidays and knew it wasn't going to happen much over the next month or so.
                    Started as a challenge with a friend but ended up applying for a Temporary Supermarket Assistant job.
                    Went through gruelling 1h questionnaire online about biting your nails and how would you react if...
                    Followed by a "group assessment" where it was myself and confused 18-19y old youngsters.
                    Survived 1.5m working the register 3days per week, the most "challenging" role that they could find for me in that place.
                    They say that you learn a lot about yourself when you do manual labour.
                    I learned that I do not like doing manual labour.

                    Hopefully we'll get some better times ahead...

                    btw £9.24/h for whom is interested, I can put you in touch.
                    peak of my day was refusing alcohol to students that were from outside of EU and had anything else but a passport.
                    Last edited by GigiBronz; 19 January 2020, 17:08.

                    Comment


                      #20
                      Originally posted by GigiBronz View Post
                      Now we are all here, trolling this forum.
                      Waiting for 12pm to have the first glass of wine. (if we happen to wake up before that)

                      I am not joking about this but I was getting bored before the holidays and knew it wasn't going to happen much over the next month or so.
                      Started as a challenge with a friend but ended up applying for a Temporary Supermarket Assistant job.
                      Went through gruelling 1h questionnaire online about biting your nails and how would you react if...
                      Followed by a "group assessment" where it was myself and confused 18-19y old youngsters.
                      Survived 1.5m working the register 3days per week, the most "challenging" role that they could find for me in that place.
                      They say that you learn a lot about yourself when you do manual labour.
                      I learned that I do not like doing manual labour.

                      Hopefully we'll get some better times ahead...

                      btw £9.24/h for whom is interested, I can put you in touch.
                      peak of my day was refusing alcohol to students that were from outside of EU and had anything else but a passport.
                      Ever since reading the post previously about the guy who did cold calling, I was thinking about getting a manual labour job.. thanks for setting me straight on that one..

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