Do you rates go up as much as they should each year..

[benedmonds]

I was communicating with another member and employer and examining the wages I pay,  They suggested:  

The problem is, we’re all just left charging the same as we did 10 years ago, whilst people expect to earn about £5000 more.

Got me thinking... Has the day rate I charge and the rate I pay my staff increased inline with inflation... 

 

In my case the rates I pay staff have increased inline if not slightly above. But the rates I charge are  4 or 5% lower then they should be.

For those of us who have been doing this a long time put you 2007 day rate into the UK Inflation Calculator

 

http://www.in2013dollars.com/2007-GBP-in-2017?amount=100

[Steve Bullman]

As a freelance climber I haven’t put my rate up in around 6 years 

[Steve Bullman]

More fool me I guess 

[benedmonds]

£100 in 2011 → £114.83 in 2017.  It's quite a difference..

[Shane]

That doesn't seem like a big enough increase to me.

Surely six years of compounded inflation should be more than 14.83%

 

My day rate has gone up a lot more than that in this period and  plenty of customers are fine with it.

 

[arbogrunt]

day rates havent gone up for years....climbers pay hasn't gone up much either...groundies pay has gone up dramatically over the years. I started of with a local firm on £30 a day in 1994...our groundies are on £80 to £100 a day depending on experience these days...more if they bring a bit more to the party. Upping dayrates to give well deserved pay rises can cause a rapid drop in the number of jobs won...and less work...thats the way it rolls

[benedmonds]

£30 in 1994 → £56.22 in 2017

Any new guys should stop their complaining....

Edited October 20, 2017 by benedmonds

[Mark Wileman]

To be fair £30 could get you a lot more in 1994 than £56 can get you now... inflation is a odd game as different markets are affected differently (consider food prices increasing vs rent vs fuel ). Obviously I have no numbers to back this up, but inflation can't really cover all bases.

[Mark Wileman]

Also I was 5 in 1994, so I'm assuming it wouldn't get you much, £54 certainly doesn't go far these days!

[skyhuck]

4 minutes ago, wiley said:

Also I was 5 in 1994, so I'm assuming it wouldn't get you much, £54 certainly doesn't go far these days!

I was 25 in 1994, IMO, the big difference is expectation. We did not expect the luxuries people today feel are their right.