#483 – Can you lower your day rate?
This question shouldn't feel like a hostage negotiation.
It's actually a very reasonable question for a producer/client/post-super to ask.
Especially if they're:
a) trying to manage a tight budget
b) responsible for maximising someone else's profit
c) lacking in resources
But it doesn't mean that you have to say yes.
Far from it.
These days, I say something like:
I know it’s your job to manage the budget and try to save where you can, so I know you’re just being a good producer in asking that, but I have thought carefully about my rate; what's a fair price for my level of experience and skills and also what is sustainable for me. So I’m afraid I’ll have to say no.
For example, my day rate is based on the fact that as a freelancer I won't work every day of the business year yet I have to cover my own sick pay, parental leave, holidays, pension, business infrastructure costs, accounting fees, hardware and software costs etc.
Given all that you, I'm sure you'll understand why I need to stick to my rate.
You don't even have to say all that. The first paragraph is often enough.
Saying no:
- helps to project a level of confidence in your abilities (which is always reassuring)
- shows that you're not afraid/embarrassed to talk about money and the value you contribute.
Even if you don't feel those things, that's OK. Just say no anyway.
So are you saying you never lower your day rate?
Absolutely not.
I'm trying to make our family motto be: “Fortitude and adaptability.” – (The kids aren't embracing it as much as I'd like, but that's another story.)
But just as you have to show a little fortitude in saying “I'm afraid I can't do that.” you also have to show a little adaptability.