A correspondent who just worked himself up to asking for a 50% increase in rates: “It turns out that asking customers to pay more money is an effective way of getting more money.”
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I've been increasing my effective rates 10-15% year-over-year and haven't noticed any issues. But my motivation isn't to make more money; it's to spend less time working. Client competence goes up, QOL increases, pay stable and comfortable.
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Congratulations. I always struggle with giving folks unsolicited advice, but since we're in a thread about this exact topic: as you're increasing your rates at substantially below the growth of rates in the market, you can have all the things you want *and* more money, by asking.
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