Would you accept a £50/day rate reduction for a six-month contract extension?
A scenario that I suspect quite a few contractors will face at some point:
You’re coming towards the end of a contract.
The client wants to extend you for another six months, but says budgets have tightened and the extension will only be approved if you accept a £50/day reduction.
Everything else remains the same.
You know the client, the work and the team. There is no guarantee that you will immediately find another contract if you walk away.
Would you accept it?
I’d be interested not just in yes/no answers, but in the reasoning behind them.
Does your answer change depending on the current market?
Would you negotiate first?
At what point does protecting your rate become more important than continuity?
Recruiter perspectives would be useful here too.
You’re coming towards the end of a contract.
The client wants to extend you for another six months, but says budgets have tightened and the extension will only be approved if you accept a £50/day reduction.
Everything else remains the same.
You know the client, the work and the team. There is no guarantee that you will immediately find another contract if you walk away.
Would you accept it?
I’d be interested not just in yes/no answers, but in the reasoning behind them.
Does your answer change depending on the current market?
Would you negotiate first?
At what point does protecting your rate become more important than continuity?
Recruiter perspectives would be useful here too.
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