Take a pay cut or not??

From another thread.

senior wrote:

............... in the next breath, I was asked if I would lower my day rate by .......£50 Shocked

. WTF and this was in Q3 last year.

I declined and went else where Very Happy

luckyjim37 wrote:

If you take a day rate cut from your agency that is your personal choice but lets face it the last three months have been a lot quieter than normal so you do what you have to do to survive these quiet times.

100% agree with 'senior'
You should never agree to a rate lower than the previous year.....

regards
James Mc

Member Joined: Dec 26, 2003

Now, one might be sitting at home with no lolly and told there's no work until November. You all know the bills come every month, regardless...

If offered a stint at a lower day-rate, does one;
a.) Take a pay-cut and get offshore?
b.) Tell them to stick it?
c.) Flip burgers for a fraction?
d.) Wait for your cheque from the Union?

Really tough choices.

Decline and go elsewhere.

Member Joined: Nov 04, 2007 Location: Scotland

I agree with you James, walk on by and let another Muppet with more debts than myself carry out the job, these people are cutting their own throats in the long run and making it harder for the rest of us to get a decent day rate. Twisted Evil

This agency was asking for me to take £50 per day cut, in Q3, no way brother

Cheers

Senior $ Shocked

$

ROVworld Webteam Joined: Dec 26, 2003 Location: Scotland

jamesmc wrote:

Decline and go elsewhere.

Said by someone who has enough in the bank to be able to afford to say no?

I agree that generally you should TRY and not take a cut or work for less than the season before, but there are sometimes going to be situations where you need it. Cut off your nose to spite your face I believe is the relevant saying.

Member Joined: Nov 04, 2007 Location: Scotland

Another way to look at it, to debt or not to debt

Some people use one half their ingenuity to get into debt, and the other half to avoid paying it. Rolling Eyes

Senior.

rayshields wrote:

jamesmc wrote:

Decline and go elsewhere.

Said by someone who has enough in the bank to be able to afford to say no?

Ray

Yes, I have enough in the bank to afford to say no. How I have arrived in this position is not by accident or luck though, but more by design.

Years back, as a diver, I was offered a rate that was under the norm. I could have done with the money. I declined, stretched out my slush fund, drove trucks for a while and looked elsewhere for a month or so until I picked up work at the going rate. If everybody did that the rates would never go down.

Only those that spend as they earn can't afford to do this. If people are cashless during the quiet periods then they have nobody to blame but themselves and are using the wrong strategy as day raters.

However, if the solution to overspending is to to take the easy way out and accept lower rates to get work then, in the longer term, they are doing nobody any favours, including themselves and many others in this industry. Sorry, correction... they are certainly doing the companies major favours in improving their investor profits but hey... who cares about that?

The problem is these days people keep looking at the Jones's and feel they must keep up with the big house, new car, new furniture, the works and then wonder why they are running out of money after a few months without a job. I've always tried to run on a GBP 10k slush fund so that there is a buffer in place for the lean times. In this game you can't spend as you go.. especially as a day rate person.

regards
James Mc

Member Joined: Jun 05, 2004

And that ...................... Is precisely what I do as a day rater Cool

Because that is how it has always been and I cannot see it changing soon Shocked

So A reality check to all you Newbies Who think you Are getting into a lucrative easy job ( Like playing on a Playstation toy and get paid for it , loads a bucks and you think it's easy peasy )
It ain't Shocked

.
It's the Oil and Gas Industry and if you have not got the experience....................... You should not be a day rater But a blue eyed salary girl and if you cannot get a job on salary to get the experience................................. Get another profession and stop Screwing up our lively hood Evil or Very Mad

Member Joined: Nov 04, 2007 Location: Scotland

Oi Oi, hows that ballistic chart wheel thing coming along lost boy, you got it finished yet?. Sorry to digress, but Who honestly wants to work the same but get paid less for doing it Rolling Eyes

Not me pedro!.

If people get themselves in a situation that they are finding difficult to manage, I agree with you lost boy, they should not be in that position.

Senior $$ Mr. Green

Member Joined: Dec 17, 2003 Location: Thailand

Agree with you guys also.... being flush fiscally goes along with responsibility - personal and professional... And yes, throughout the (many) years I've been in the industry I did the unspeakable and undercut myself.... REMEMBER those 2 words young folks "undercut myself"......

Good thread dudes... Let's keep the hammer going!!!!

Member Joined: Aug 19, 2006

Whilst I have empathy for those folks, who need this weeks pay for last months bills, of course your family must take priority over your workmates.

Please learn a lesson from some of the old salts. They probably trained you and carried you on many a job. Now because of you spent your money foolishly you are undurcutting these same people and taking money from their families, hope that new Audi or house bigger than you really need was worth it. Never believe the boom without end, usually the bull sh#t is at its peak just before the crash.

When the next boom comes, save some dough, so you dont have to cut your own throat and those who taught you your skills. Better to drive an old car on holidays than have a new car in the garage and working for peanuts to pay for it.

Member Joined: Dec 17, 2003 Location: Thailand

Good point from ROVSKI folks.... SAVE your dosh!! A safe buffer would be for 8 months (re: no work for that period). Mine used to be 3 months but now it's up to 5 or 6 months buffer (and that's without tapping into my retirement funds or other monies incoming - another financial aspect to ponder folks - retirement funds...)

Member Joined: Jun 05, 2004

You mean the Farming of certain plants and the prostitution racket Scott ? Very Happy

Member Joined: Oct 19, 2007 Location: Perth, WA

Talki

Member Joined: Dec 17, 2003 Location: Thailand

lostboy wrote:

You mean the Farming of certain plants and the prostitution racket Scott ? Very Happy

DUUUOOOH!!! (Again)