Rate cuts

News reaches codematic central of financial services contractor rate cuts hitting London.

Nice timing – Happy Christmas back at ya!

Are you affected?
(I’m not but friends are)
cheers
simon

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3 Responses to “Rate cuts”

  1. sysmod Says:

    Yes. I see ads that for specific domain skills, like IRDs, are GBP 700/day, roughly EUR 800/day but ordinary VBA/Excel (ie not wide-spectrum dev skills like yours) down to E 350/day in cities, 250/day outside. Geneva is what, still CHF 1000/day for your friends with Xl/Access/VB/.Net/C# ?
    http://www.contracteye.co.uk/more-banks-cut-contract-rates.shtml

  2. Simon Says:

    thx for the link Patrick, that is what I was referring to – cutting inpost contractor rates, I hadnt looked at the recruitment market.
    Things are pretty tough in GVA at the mo (strong chf not helping).

  3. Simon Says:

    It seems that a few are affected, at either 5%, 10% or 15% (see Patricks link.)

    A client tried to do this to me way back, but I immediately gave notice and they eventualy backed down. The market is a bit different now though – and all the banks have moved together so there is little incentive to jump to the competition.

    (According to my inbox, some people have successfully pushed back though (on condition of secrecy)).

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