Has the economy affected what your are paid/the amount of your pay rise/ the rate that is charged for your services?

[Earlybird]

We all know from the constant media barrage, and from our own budgets, that money is a big issue these days and there is general belt-tightening all around.

Curious to know how you (as an employer and/or employee), and your company have addressed the issue of pay rises, bonuses, rates charged per project, or hourly rates? Are freelancers/independents/self employed making concessions in the amounts charged for projects? Are people generally asking for/receiving basic inflationary increases?

If you work for a corporation/firm, has your company changed how your time is charged out to clients? If so, has that change translated to your own pay packet?

Hi Crunchie, yes, I do work in finance, I'm an interim. Interesting, Robert Half recently told me they'd pulled out of a relationship with a UK bank because they weren't prepared to accept the low rates being demanded. I do think they did the right thing - they aren't the cheapest but are a good agent ime and do attract quality candidates.

I always read crap sent to me by agencies if it's about cash

The problem is the BIG companies always demand stupid rates. NU, AXA are two of the biggest locaaly but expect about 13% mark up!!

On senior interims I can get between 25% and 100% mark up demending on the role/speciality/location

Robert half are good but luckily for me the nearest place is Cambridge so I don't get affected much by them, Michael Page as well. BUT it is all down to the consultant more so than the agency name IMHO. I know clients pay more through me, THEY know they maybe paying more through me BUT they are happy to as they know I know my stuff and work closely with them. I was shocked the other day I got a job (straight forward Finance Manager role) in a crap location middle of the sticks. I was the 3rd agency onto the role, and I will fill it becasue the others sent a waste of paper bucnh of CV's Half the candidates lived more than 40 miles from teh job (Only paying £40k max) the others were working for me already!!!

Crunchie, what area do you live in roughly? Agree, it's about the consultant. I didn't mind paying more to use RHI as they wasted less of my time by giving me the right person first time on many occasions.

i'm obviously in the wrong job. NHS staff in my trust havent got a cost of living payrise this year!

I work in the private sector for a blue chip company. No pay rises for anyone at all last year, and this year there will be pay rises for "top peformers" only, but probably only 2% if that.

I am in East Anglia

Hmmm - what to do.

Am thinking I will make a point of saying that in light of the poor financial market performance, I will not ask for an increase this year, but it should not be considered a precedent. Will somehow (tactfully) communicate that it would be fair to receive a larger-than-usual increase when the markets have recovered.

Does that seem fair, or is it a 'bad idea'?

In the meantime, will continue paying more for everything else....

I am self employed/freelancer and my rates have been the same since about 2001/2002!

Nothing has changed!

I am self employed/freelancer and my rates have been the same since about 2001/2002!

Nothing has changed!

Gobbledigook - do you think you'd lose clients if you put your rates up even a bit? You've been at the same rate an awfully long time.

I also am paid in pounds and spend in euros. Since the pound dropped I am losing the equivalent of 70 to 80 pounds a month which I find quite frightening.

I don't earn that much anyway.

We have had no pay rise this year, work for a small charity which is struggling in this current climate - so anyone on £100 plus an hour want to donate let me know.....