See Part 1 on Getting a Good Rate before you read this.
Getting a Good Rate
This is the second in a 3-part essay on getting a good rate from the agency when getting the initial contract.
In the first part, the agency has quoted a figure of 500 per day for the job, whereas the contractor quoted a range of 500-575 per week. This is the contractors opportunity for getting a good rate.
After passing the interview, the contractor has now asked for the higher rate, and the agent has gone back to the client.
The contractor also has a couple of other interviews to go to as well.
Getting a Good Rate – Negotiate
In the first circumstance, where the client offers 535 per day, then you tell the agent that although you‘ll come down to 560 per day, that‘ll be your bottom line.
You are only 25 quid away from an agreement, and it is too tantalising for the agent. They will go away ‘˜to see what we can do ourselves‘.
It is now up to you as to whether you accept their new offer when it comes of either 545 or 550 per day. You could stick to the 560 per day, but that would be rubbing their noses in it. I would go for 550.
You can always get a bit more back at the renewal. If the client sticks at 500 per day, then go for 535 from the agency and settle for 525-530. It‘s all part of the game.
The agent will not be very pleased when you first put the proposition to him or her, but when the deal is sealed up, then they will be pretty contented.
Getting a Good Rate – Making Them Wait
Once you‘ve got the job, the agent is desperate to tie it up straight away. You may have one or two other interviews to go to, and would like to be in the position of choosing between several.
That will be the last thing that the agent wants.
What the agent will say is that the client wants to tie it up by the end of the day.
That will almost certainly not be the case. It is the agent who wants to tie it up by the end of the day.
The client will almost certainly be happy to wait for a few days. If it is a Tuesday, then the client will almost certainly wait till late on Friday afternoon, and will simply keep the second and third choices at bay. You have to keep your nerve when getting a good rate.
Getting a Good Rate – Buying Time
You have to buy time with the agency though. They won‘t give you much time if they can help it.
You could probably say that you‘ll give your decision late on Wednesday.
You will also call up your other agents and tell them that you have had a job offer, that you would prefer to have their job, but you are being pushed to make a decision on the other one, and would it be possible to bring the interview forward, or, if that is not possible, to have a phone interview with the client.
If they ask how long you‘ve got, tell them Friday lunchtime.
Most clients will bring interviews forward, especially if they have someone who is much in demand with other companies, but who would prefer to work at their site.
If you do set up further interviews, say one for the Thursday, and one for the Friday morning, then it might be an idea to go out on Wednesday when your agent is trying to get hold of you.
He or she will have left a plethora of messages for you on your answerphone. Getting a Good Rate is going to be easier now.
Juicy Morsel
When you come in on the Wednesday evening, phone the agent back (who will have gone home by that time) leaving a message apologizing, saying that you had to go out for some reason, but that everything is OK.
You will get a call first thing on the Thursday morning, possibly before you get out of bed. The agent will be getting a little nervous and agitated by this stage, at the prospect of a juicy morsel slipping from his or her grasp, and will want to get things sealed up.
They will want to get the contract across to you as soon as possible. You do not have a fax of course. You do have email, but you do not have a printer in order to print the contract out.
They could send it over via courier, but you are going out soon for the day, so it would be better to send it in the post. If they insist on sending it to a neighbour that would be fine, but of course the neighbour would forget to give it to you till the next day.
Read the third part on getting a good rate here.
Ad – Contractor Services
If you do need an umbrella company you could try one of the following:-
Public Sector Umbrella Company
Or would you prefer to get expert advice about which umbrella company is right for your specific needs? If so fill in the form below and they will be in touch.
For Mortgages specially designed for contractors try Specialist Contractor Mortgages.
