Post new topic Reply to topic  [ 12 posts ]  Go to page 1, 2  Next
 What hourly rate is reasonable? 
Author Message

Joined: 16 Sep 2009 12:45
Posts: 13
Post What hourly rate is reasonable?
I have a new client that wants to employ me on an hourly rate per case. They have come back and said they are prepared to pay £20 ph. Is this reasonable, as I believe the going rate is in the region of £30 ph? I accept rates for London may well be higher than for up North.

Would be interested to know what others think

My other clients are happy to pay me on a fixed fee case basis

At the end of the day I want to offer a value/quality service and not rip anyone off fee wise. On the other hand I do not want to sell my services too cheaply either.

Regards

G


30 Oct 2009 14:33
Profile
Site Admin
User avatar

Joined: 27 Mar 2008 03:29
Posts: 577
Location: Oxfordshire, UK
Post Re: What hourly rate is reasonable?
Personally I think £20 is too low when you factor in not only your skills but also all the costs associated with running, marketing and maintaining a business.

However, you have to establish yourself and I know some people who are charging even less than that. Only you know what you need to charge to cover your costs and make a the profit you want, if £20 does it then charge it, if not, charge more.

_________________
Richard Allum
http://www.paraplanplus.co.uk


30 Oct 2009 20:28
Profile

Joined: 16 Sep 2009 12:45
Posts: 13
Post Re: What hourly rate is reasonable?
Richard

At this stage of my business (only the second month) I cannot afford to turn work down, but I agree with you, going forward I reckon my services are worth more than £20ph

I do not intend to milk the job for what it is worth, but I expect to be paid a reasonable rate for the valuable work I provide. I want to provide a value for money service, but still be able to make a reasonable living at the same time.

G


02 Nov 2009 18:09
Profile

Joined: 06 Nov 2008 14:29
Posts: 18
Post Re: What hourly rate is reasonable?
if you go to a temping agency for a general office administrator/typist, you expect to pay £20-30 ph (+ fees etc). For a paraplanner, who has qualifications and is specialised in a niche market, the price should be much higher.

Take a look on any IFA's terms of business and I'll bet the hourly rate for a paraplanner is £100 - £150 per hour, just under the IFA hourly rate of £250. (I know that most IFAs dont follow this, but it is indicative)

Take into account that they are not paying employment costs (salary, NIC, pension, hoiliday, sickness, maternity etc)

Therefore £20-30 is not enough. My indicative charge per hour is £85, and people pay that.


14 Jul 2010 17:16
Profile
Site Admin
User avatar

Joined: 27 Mar 2008 03:29
Posts: 577
Location: Oxfordshire, UK
Post Re: What hourly rate is reasonable?
Well said Heidi :D

_________________
Richard Allum
http://www.paraplanplus.co.uk


15 Jul 2010 07:53
Profile
User avatar

Joined: 17 Apr 2008 11:13
Posts: 146
Location: Norfolk
Post Re: What hourly rate is reasonable?
Mmm, £85 per hour, I must be missing something here :shock:

Anyone got any jobs going?? ;)


15 Jul 2010 20:24
Profile
User avatar

Joined: 17 Jun 2008 10:31
Posts: 498
Post Re: What hourly rate is reasonable?
I see a queue forming. Being English I will join it forthwith.

_________________
Peter


16 Jul 2010 09:02
Profile
Site Admin
User avatar

Joined: 27 Mar 2008 03:29
Posts: 577
Location: Oxfordshire, UK
Post Re: What hourly rate is reasonable?
Don't forget that £85 per hour is the gross amount. Not all hours in the day are billable. You have to take lots, and I mean, lots of costs off that for running a business. Still can work out as being more financially rewarding than being employed but you have to be able to take the risks.

_________________
Richard Allum
http://www.paraplanplus.co.uk


16 Jul 2010 10:20
Profile
User avatar

Joined: 17 Jun 2008 10:31
Posts: 498
Post Re: What hourly rate is reasonable?
*quietly leaves queue*

_________________
Peter


16 Jul 2010 11:43
Profile

Joined: 15 Feb 2011 17:29
Posts: 40
Post Re: What hourly rate is reasonable?
Heidi - can I ask what area of the country you live in?

Just wondering whether your £85 rate is a London-weighted amount... :)


10 Jan 2012 11:09
Profile
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 12 posts ]  Go to page 1, 2  Next


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Revolution Pro phpBB3 template by Brian Gardner Media, LLC