CONTRACTORS' QUESTIONS: WHAT TO DO IF A RATE CUT LOOMS?

CONTRACTORS' QUESTIONS: WHAT TO DO IF A RATE CUT LOOMS?

Contractor’s Questions: Although I haven’t seen sweeping pay cuts for a while, I’ve heard whispers of an impending rate reduction at my client’s London office where cost-saving has already begun. Is there anything I can do?

Expert’s Answer: Firstly, it’s worth pointing out that we haven’t really seen these kind of ‘take it or leave’ pay cut tactics on a large scale since 2008. Nonetheless, there are often instances of cuts around this time of year; there were in 2014 for example, and in 2015.

We generally see an upswing in IT contractors registering with us for a new contract once a cut takes effect. In short, contractors quietly put themselves ‘on the market’ while accepting the cut to the client’s face.  

So if you’re staring at a rate cut (or an enforced holiday), our advice is that it’s always better to be billing while you’re looking. So update your CV, speak to your favourite recruiters and put yourself on the market for a better opportunity. Seek and generally-speaking; ye shall find!

The expert was Natalie Bowers of contractor recruitment business Bowers Partnership.

Comments

Currently there are no comments. Be the first to post one!

Post Comment

*
*
*

Other media articles

WE ALL ASKED - IS SHE OUT OF HER MIND?

2  Jul  2018 

Bryony Sexton, from Bowers Partnership, asked herself the question – “am I out of my mind”? She said “Skydiving has always been on my bucket list but I didn’t think I would ever have the guts to do it...

IT CONTRACTORS, BE CANNY IF JOB-HOPPING FOR CASH

2  May  2018 

Although the word ‘scarcity’ and ‘shortage’ can have negative connotations in many walks of life, for a canny IT contractor these are the adjectives for market conditions sent from heaven, writes Nata...

MEET OUR APPRENTICE OF THE MONTH - OSCAR LORIMER

19  Mar  2018 

Oscar Lorimer, studying for a Level 2 Diploma in Business Administration, is the worthy winner of our latest Apprentice of the Month award. Oscar currently works for Bowers Partnership , a specialist ...