The Interim
Build your career as a successful Interim, because for many people, it is the best job in the world. This podcast will equip you with knowledge and the mindset to excel whether it’s your first time or if you’re experienced and wanting to hear from fellow professionals and keep learning.
The Interim
Negotiate your day rate - Nick Diprose
Are you sure you’re charging your correct day rate? As an interim executive, setting your day rate can feel like navigating a minefield. It’s difficult to know. Head-hunters, client expectations, and the big question, 'What am I actually worth?' Join us as we pull back the curtain on interim pricing. We’ll talk about how to respond, when to respond and what your response says.
I am very pleased to be in conversation with Nick Diprose. Nick started his career with British Steel working in large infrastructure projects, and has spent the last 20 years growing professional services businesses. He founded Holdsway in 2013 with the goal of promoting interim executives as the ‘expert game changers’ of the economy.
· Value over Price: Nick emphasizes that the conversation should start with understanding the client's needs and the value the interim can bring, rather than immediately focusing on price. Interims offer a solution, we’re not a commodity.
· Have a Range, But Don't Lead with Price: While it's crucial to have a day rate range in mind, revealing it too early, before understanding the assignment's complexity and scope, can be detrimental. Listen first, then position your value.
· Confidence is Key: Projecting confidence in your value is essential. Asking head-hunters what they think you're worth undermines your position as an expert. Know your worth and be prepared to state it (within a range).
· Market Awareness: The Institute of Interim Management survey can offer some guidance. Experienced recruiters can also provide insights into market rates.
· Negotiation is Part of the Game: Pricing is often a negotiation. Don't be afraid to aim high initially, understanding that there might be room for slight adjustments. A price inquiry often signals genuine interest.
· Focus on the Right Work: Ultimately, securing the right assignment that aligns with your skills and career goals is an abundant life, even if it means slightly adjusting your rate within your acceptable range.