Anyone managed to reverse the 10% banking cut? Anyone managed to reverse the 10% banking cut?
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    Default Anyone managed to reverse the 10% banking cut?

    Without changing contracts?

    i.e. at extension.

    Its been nearly a year since the 10% cuts were forced upon us, just wondering if anyone has managed to push it back up - even if by a little. If so what justification did you give?

    I'm sure there will be the "I told them I was going to walk" & "I refused the cut and they backed down" but anyone else?

    I've had two extensions and will possible be taking a 3rd before year end. I think its time to push back especially a little.

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    Quote Originally Posted by Notascooby View Post
    Without changing contracts?

    i.e. at extension.

    Its been nearly a year since the 10% cuts were forced upon us, just wondering if anyone has managed to push it back up - even if by a little. If so what justification did you give?

    I'm sure there will be the "I told them I was going to walk" & "I refused the cut and they backed down" but anyone else?

    I've had two extensions and will possible be taking a 3rd before year end. I think its time to push back especially a little.
    I have now, but had to change contract.
    Never has a man been heard to say on his death bed that he wishes he'd spent more time in the office.

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    nope.... Still a 10% pay cut...

    Plus inv banks are ramping up the out-scourcing and in-sourcing spend on Indian workers.

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    Quote Originally Posted by NoPaddle View Post
    nope.... Still a 10% pay cut...

    Plus inv banks are ramping up the out-scourcing and in-sourcing spend on Indian workers.
    Like RBS never happened

    My guess we will see at least 3 more like RBS next year.

    HTH
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    I have tried it with my current client, and they have said no. So I've refused to renew the contract, and am involved in interviewing my replacement.
    The irony is it looks like the rate they'll have to pay the replacement will be substantially higher than I was asking for myself

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    Quote Originally Posted by KentPhilip View Post
    I have tried it with my current client, and they have said no. So I've refused to renew the contract, and am involved in interviewing my replacement.
    The irony is it looks like the rate they'll have to pay the replacement will be substantially higher than I was asking for myself
    Why don't you get your own name on the interviewee list?
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    Quote Originally Posted by d000hg View Post
    Why don't you get your own name on the interviewee list?
    Because he knows from experience that he's not suitable for the job.
    nomadd liked this post

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    Quote Originally Posted by alreadypacked View Post
    Like RBS never happened

    My guess we will see at least 3 more like RBS next year.

    HTH
    There was an article in one of the Dutch papers at the weekend saying we now have what they called a 'Beun de Haas Economie', loosely translated as a 'Del Boy Economy'. Big corporations have realised that reputation doesn't count for anything any more, that if PR doesn't sort out the damage then a quick corporate rebranding job will sort things out; management are only interested in surviving the next quarter while doing things they know are wrong because they're told to, while directors only care about grabbing their bonus in the next quarter, whatever long term damage they have to do to get it. The attention of consumers is quickly occupied by something else anyway, so tulip doesn't stick as it did in the past.

    You know I have to admit that for a moment I thought 'RBS, RBS...hmmm what was it again...hmm... wasn't that someone else ...no, it was RBS', so perhaps the article was right. It's a bloody disaster.
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    Problem is the cuts were imposed on the agents as well so isn't a matter of just renegotiating a rate rise with agents like usual. You can only reverse that amount if the agent is getting more and they aren't (I hope). Most banking agents are on fixed margins so it isn't even the agents pulling a fast one on you. You might be able to squeeze your agents margin (if he isn't already at the fixed rate) but 10% won't wash yet.

    Question is will the agents start clawing the 10% back without telling you. I would hope they won't so the only way a rate could be re-adjusted is for a new starter. I am sure there are some tit head agents ruining that perfect scenario though so worth a punt if you are serious.
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    Quote Originally Posted by nomadd View Post
    Because he knows from experience that he's not suitable for the job.
    **** off
    The client managers very much wanted me to stay, but their HR and senior management wouldn't budge on the rate. And the client managers didn't blame me for my rise request since I was previously on below market rate.
    I think the issue for HR is that if they do then other contractors will try their luck.

    There are some clients out there that try to live by intimidation - I won't have any of that...


    Quote Originally Posted by d000hg View Post
    Why don't you get your own name on the interviewee list?
    Well indeed. Trouble is the HR dept would tell from my passport that I am the same Kentphilip as the one wot left
    Last edited by KentPhilip; 28th August 2012 at 17:27.

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