How do you guys work out extended rates?
- Thread starter jambredz
- Start date
Barry_Green
Moderator
Nobody can really answer this for you, because we don't know what you charge, how frequently you actually get your rate, and how many days a month you get it. And we don't know what this job means to you -- is this a breakthrough feature gig or something? if so, that might affect how much you want it.
If you work one or two days a week, and someone is offering you 20 days in a row... well, as said, you can quote your existing rate, but they may very well ask you to deal. How do you determine what's acceptable? Well, one way would be to forget worrying about day rates and look at how much money you need to get through the month. What's your burn rate -- does it take $3,000 a month to keep you and your household afloat? $4,000/mo? $5,000/mo? Whatever it is, consider that this job might be the only job you get the whole month, so it's got to at least cover your monthly nut or it's not worth it.
Then you have to also factor in how much work you're normally likely to get otherwise, which you will now have to turn down. If you charge $500/day, and you work three days a week on average, then that's $4500 you'd make over three weeks. You most definitely don't want to go taking a 20-day job at a $4000 flat rate... you'd be sacrificing all your free time and losing money too. Even if your monthly nut is only $3,000, why would you want to work twice as hard, for less dough?
Also, factor in who these people are, and if they're likely to pay, on time, with checks that actually clear. You don't want to get two or three weeks into it and get the old "hey, listen, about the paycheck..."
If you work one or two days a week, and someone is offering you 20 days in a row... well, as said, you can quote your existing rate, but they may very well ask you to deal. How do you determine what's acceptable? Well, one way would be to forget worrying about day rates and look at how much money you need to get through the month. What's your burn rate -- does it take $3,000 a month to keep you and your household afloat? $4,000/mo? $5,000/mo? Whatever it is, consider that this job might be the only job you get the whole month, so it's got to at least cover your monthly nut or it's not worth it.
Then you have to also factor in how much work you're normally likely to get otherwise, which you will now have to turn down. If you charge $500/day, and you work three days a week on average, then that's $4500 you'd make over three weeks. You most definitely don't want to go taking a 20-day job at a $4000 flat rate... you'd be sacrificing all your free time and losing money too. Even if your monthly nut is only $3,000, why would you want to work twice as hard, for less dough?
Also, factor in who these people are, and if they're likely to pay, on time, with checks that actually clear. You don't want to get two or three weeks into it and get the old "hey, listen, about the paycheck..."