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hourly rate as contractor- am I selling myself too cheap?

 
forum comment
#0 hourly rate as contractor- am I selling myself too cheap?
 
Contractconsultant
09.12.10 00:00
 
Hi all contractors out there! I recently left my management consultancy role for contract work with a boutique strategy consultancy. I am at (senior) consultant level, have worked ca. 3 1/2 years in business strategy & transformation projects (my second career choice having switched from the public sector). Overall, I have about 8 years working experience. Now, I am speaking a number of languages and also use these for my current work (M&A). I question - what daily rate you think I should expect? Is it in the range of :150- 200200-250250-300300-350>350The reason I am asking is that an agency recently told me I am underselling myself (although I later realised they were recruiting at manager level). I really see my contract work as a way to keep myself alive financially while applying for new positions. It's not a career choice (yet). Let me know!Thanksundersold contractor
 
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forum comment
#0 RE: hourly rate as contractor- am I selling myself too cheap?
 
Shoe Polisher
09.12.10 00:00
 
Troll or naive?I pay £400 a day for Senior Consultant level. (limited company or umbrella)
 
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#0 RE: RE: hourly rate as contractor- am I selling myself too cheap?
 
Terry the Troll
09.12.10 00:00
 
Shoe polisher - I'd pay £800+ for a troll. Just think how specialised we are!
 
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forum comment
#0 RE: RE: RE: hourly rate as contractor- am I selling myself too cheap?
 
anon
09.12.10 00:00
 
Depends if you have your own bridge.
 
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#0 RE: RE: RE: RE: hourly rate as contractor- am I selling myself too cheap?
 
abdulabulbul
10.12.10 00:00
 
"I am speaking a number of languages" - clearly English is not top of the list...
 
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forum comment
#0 RE: RE: RE: RE: RE: hourly rate as contractor- am I selling myself too cheap?
 
Mr Cool
10.12.10 00:00
 
Contractconsultant,Ignore the pathetic and vaguely racist comment on your tiny error in English – sadly many native English speakers remain incredibly narrow minded as they stamp around in their linguistic clogs. No doubt they find English the only language they need as they order their Stella in Torremolinos.As for your day rate, I suspect from the range that you offer, you are indeed undercharging compared to market rates. As a general rule I would suggest that any consultancy company using you as an “associate” would be happy to make a 60% margin on your cost to them, i.e. for every £100 you charge, they should be happy to charge £160 or more. If they are getting £1000 a day for you, you should be able to get away with charging them about £600.HOWEVER – it depends on your situation. If this is a stop gap until you find another permanent job, it may be better to stay in work for a lower than market rate than to risk being out of work and eating into your savings.
 
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