Originally posted by northernladuk
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Economic Crisis & Rate Reduction
Collapse
X
-
-
Originally posted by Lance View Postdepends on the contractor, and the client.
I've been asked three times, on three different contracts, what cut I'd accept.
Everytime I've said no.
Never have I had to leave due to that. On two occasions I've been there for at least 6 months afterwards.
Sent from my iPhone using Contractor UK ForumComment
-
Originally posted by GhostofTarbera View PostIndeed, and so have most of us, but in this market today - I would reduce from £600 to £400 if alternative was out of contact
If you take a cut of that much you're undervaluing yourself. I'd rather be on the bench for a year (albeit that's unlikely). I'm not in this game to be a wage slave.See You Next TuesdayComment
-
Originally posted by Lance View Posthe who dares wins.....
If you take a cut of that much you're undervaluing yourself. I'd rather be on the bench for a year (albeit that's unlikely). I'm not in this game to be a wage slave.
I spent 5 months out of work and I'd have snapped someone's arm off for the 400 even if I knew it was a 600 quid. As long as it took me through the crap I can make it back in the rest of my career after. Would I have thrown 40k down the toilet over the time off just to prove a point? No I wouldn't and nor would any sane person.
I know you'd take it if you were ever in that situation though so just saying like.
And wage slave? Your wage doesn't change. 700 quid or so a month whatever happens so how can you be a slave to that?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
-
Originally posted by NotAllThere View PostWorking 3 days rather than 5 would be better.
I'd get a three-way call between hiring manager, agent and you to discuss an equal percentage drop for both parties. You and agent.Comment
-
Agencies always complicate things but in general you should be avoiding any kind of rate restriction. No real consulting company is giving a rate reduction.
Why can't they pay you the same rate? Find out the source of that issue and then offer a solution. Is it cash flow issue? Profitability issue? Has the value of the service you provide changed? (It's quite possible).
The reason why I say all that is that I would only accept a rate reduction if the actual value of what i provided has diminished.
If they have issues with cash flow then you tackle the problem of payments and payment terms and possible delays and you can offer solutions there. If they have issues with profitability then you tackle the problem of costs and offer solutions there either go part time or see if you can offer a solution to free up costs on your project that don't involve cutting your rates. But don't just take a rate reduction without an explanation or with a generic explanation of "Coronavirus has negatively impacted our business"Comment
-
Originally posted by simes View PostProblem with that is that while you're working x days, the rest of the business works the five days. There will be 'week - x days' of stuff to do on the day you return.
I'd get a three-way call between hiring manager, agent and you to discuss an equal percentage drop for both parties. You and agent.
The agent will not be your friend and will try and pass their cut on to you.The greatest trick the devil ever pulled was convincing the world that he didn't existComment
-
Ask them what their budget is now & go from there.If you don't have anything nice to say, say it sarcasticallyComment
-
Originally posted by LondonManc View PostI wouldn't involve the agent. I'd ask the hiring manager what rate cut the agent is taking and suggest that you'll fall in line with them, e.g. 20%
The agent will not be your friend and will try and pass their cut on to you.Comment
-
Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment