Quote your best rate ? Give me the words
Discussion
Okay, I work as a Ltd Company "Consultant Engineer"
I'm 5/12th's of the way through a 12 month contract with a major company, but I've seen a contract which really fits with my skills and experience and might be quite challenging.
Current Client would be a bit "miffed".......
Anyway they ask for a rate, and I give my 'best guess' where best guess is 3% higher than I think they will stand.
RC has come back with :
Thank you for your quick response.
I would like to pass on your details to our customer but I do believe your rate will be too high. I will highlight the rate to them but please be aware that if you are invited in for a meeting to discuss this post further – they may wish to renegotiate the rate.
As far as I'm concerned I'll incur extra costs - it's further, and B&B is more expensive, plus risk never being employed by current client again, due to giving notice half way through contract. I can explain why rationally to hiring manager, but I know if I stayed I could get another 18 months from them (It's a bit boring and I'd kill myself)
Basically I want to say "I'm not negotiating on hourly rate, because a) I'm covering my additional costs. b) If you can only afford a City Rover why advertise for a John Cooper Works ? c) I don't need to. "
Without sounding like a w
ker.
I'm 5/12th's of the way through a 12 month contract with a major company, but I've seen a contract which really fits with my skills and experience and might be quite challenging.
Current Client would be a bit "miffed".......
Anyway they ask for a rate, and I give my 'best guess' where best guess is 3% higher than I think they will stand.
RC has come back with :
Thank you for your quick response.
I would like to pass on your details to our customer but I do believe your rate will be too high. I will highlight the rate to them but please be aware that if you are invited in for a meeting to discuss this post further – they may wish to renegotiate the rate.
As far as I'm concerned I'll incur extra costs - it's further, and B&B is more expensive, plus risk never being employed by current client again, due to giving notice half way through contract. I can explain why rationally to hiring manager, but I know if I stayed I could get another 18 months from them (It's a bit boring and I'd kill myself)
Basically I want to say "I'm not negotiating on hourly rate, because a) I'm covering my additional costs. b) If you can only afford a City Rover why advertise for a John Cooper Works ? c) I don't need to. "
Without sounding like a w
ker. Sorry but I've quoted the minimum rate that I could undertake this contract when taking into account the additional expenses, compared with my current contract/rate. If this rate is not acceptable to the client, then it would be best not to further my application.
Edited by anonymous-user on Monday 18th November 21:40
£x000/day is what I have carefully calculated to be my minimum acceptable rate to make this a viable alternative to my current contract. It takes into account additional accommodation costs and travel time, as well as factoring in the permanent loss of my current client as a future source of income.
Muntu said:
£x000/day is what I have carefully calculated to be my minimum acceptable rate to make this a viable alternative to my current contract. It takes into account additional accommodation costs and travel time, as well as factoring in the permanent loss of my current client as a future source of income.
I should ask for more ? If you are happy with your quoted rate and the agency is happy to put you forward based on this and the client is happy to see you based on this then why are you negotiating now? If they like you and offer you less then either turn them down or negotiate at a level you feel happy with. Or turn the situation on its head - what is the maximum the client will pay? Are you over that level? If so don't go forward.
New POD said:
Muntu said:
£x000/day is what I have carefully calculated to be my minimum acceptable rate to make this a viable alternative to my current contract. It takes into account additional accommodation costs and travel time, as well as factoring in the permanent loss of my current client as a future source of income.
I should ask for more ? edc said:
If you are happy with your quoted rate and the agency is happy to put you forward based on this and the client is happy to see you based on this then why are you negotiating now? If they like you and offer you less then either turn them down or negotiate at a level you feel happy with. Or turn the situation on its head - what is the maximum the client will pay? Are you over that level? If so don't go forward.
I don't want to be arrogant but I don't think there are that many manufacturing engineers with the ALL skills they list on the spec, so unless it's a wish list, and they just want a bum on a seat, then they are going to have a short candidate list, so we shall see. Following this thread, I've decided that the rate isn't negotiable.
Tumbler said:
Your rate should be based on your skill set, not the other factors you mention.
I disagree, your rate is based upon your skill set + other factors such as travelling, length of contract, interest of work etc.The clients rate is based upon the skill set, and the abundance\scarcity of available resource.
Exactly. Any contract rate is based on 2 things.
What the client is prepared to pay and what a contractor is prepared to accept to do it.
Any contractor's rate is effected by whether they are in work or out of it, and how close to home it is.
Any client's rate is based on how cheaply they think they can find someone decent enough to do the role.
These two often differ, especially if some dodgy agent (or multiple agents) are in the middle taking their cut(s).
I've been in this situation quit a few times, after the first time I realised I would only be wasting my time and the client's time if we weren't in some kind of agreement of the rate before interviewing.
So where you are now, I'd be telling the agent something like "Thanks for putting me forward, but to avoid wasting time on all sides I'm not going to go to interview for a rate below £xx. If and when the client is prepared to come up to that give me a ring."
Remember, agents aren't your friend, they're just trying to make some money off you, don't let them belabour you into going for an interview you don't really want to be at.
What the client is prepared to pay and what a contractor is prepared to accept to do it.
Any contractor's rate is effected by whether they are in work or out of it, and how close to home it is.
Any client's rate is based on how cheaply they think they can find someone decent enough to do the role.
These two often differ, especially if some dodgy agent (or multiple agents) are in the middle taking their cut(s).
I've been in this situation quit a few times, after the first time I realised I would only be wasting my time and the client's time if we weren't in some kind of agreement of the rate before interviewing.
So where you are now, I'd be telling the agent something like "Thanks for putting me forward, but to avoid wasting time on all sides I'm not going to go to interview for a rate below £xx. If and when the client is prepared to come up to that give me a ring."
Remember, agents aren't your friend, they're just trying to make some money off you, don't let them belabour you into going for an interview you don't really want to be at.
As a client, I'm interested in who can get the job done to my standards, within my time frame and what it's going to cost me, I am not interested in hearing, how far they have to travel, what it's going to cost them to stay in a B&B etc etc
When I hire a builder, I look at the quality of his work and his price, if he has to hire equipment to complete the job, then so be it, he may well factor that in to his costs/ profit margin, that however is not my concern and I wouldn't expect to see that detailed on his quote.
When I hire a builder, I look at the quality of his work and his price, if he has to hire equipment to complete the job, then so be it, he may well factor that in to his costs/ profit margin, that however is not my concern and I wouldn't expect to see that detailed on his quote.
Tumbler said:
As a client, I'm interested in who can get the job done to my standards, within my time frame and what it's going to cost me, I am not interested in hearing, how far they have to travel, what it's going to cost them to stay in a B&B etc etc
When I hire a builder, I look at the quality of his work and his price, if he has to hire equipment to complete the job, then so be it, he may well factor that in to his costs/ profit margin, that however is not my concern and I wouldn't expect to see that detailed on his quote.
Whether it's detailed on the quote or not is irrelevant - fairly sure the OP isn't stupid enough to actually add it to his quote, but whether you like it or not, it will be factored in. Good luck with your future hires though, you'll only be paying for the closest and not the best When I hire a builder, I look at the quality of his work and his price, if he has to hire equipment to complete the job, then so be it, he may well factor that in to his costs/ profit margin, that however is not my concern and I wouldn't expect to see that detailed on his quote.
I would say you've got a contract at the moment so there's nothing to lose with sticking to your guns. If they want you then that's your rate otherwise you've got work, even if it is boring.
Do ask yourself if it's right to walk out of a contract part way through. You don't want to get yourself a reputation. The fear of dumping a client always puts me off contracts that are longer than 6 months.
Do ask yourself if it's right to walk out of a contract part way through. You don't want to get yourself a reputation. The fear of dumping a client always puts me off contracts that are longer than 6 months.
Thanks for all those responses.
Clearly there is a "going rate" and this depends on how many people with similar skills and abilities are available and at "under capacity"
It also depends on the industry. My best price is high for this industry, but low for others.
I've given my best price, and whilst there may be competitors, closer and willing to accept a lower price, they may not have the best CV (they might have better one though), so I might have priced myself out of the running early on, but we shall see.
I'm concerned that jumping ship half way through a contract with current contract would get me some sort of future black mark, but I think I could have a decent "heart to heart" with hiring manager, and prevent that happening.
Clearly there is a "going rate" and this depends on how many people with similar skills and abilities are available and at "under capacity"
It also depends on the industry. My best price is high for this industry, but low for others.
I've given my best price, and whilst there may be competitors, closer and willing to accept a lower price, they may not have the best CV (they might have better one though), so I might have priced myself out of the running early on, but we shall see.
I'm concerned that jumping ship half way through a contract with current contract would get me some sort of future black mark, but I think I could have a decent "heart to heart" with hiring manager, and prevent that happening.
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