How should you format and write a rate increase letter?
I am a legal billing coordinator running my business as an independent contractor. I currently have four separate law firms that I do monthly billing for. I am trying to come up with a way to increase my rates based on my skill set. What I do is not a really known trade, but a diamond in the rough when found. I do not have a place to check current market rates for a business like mine. Is there any advise on how to write up a rate increase letter? Thanks to all who respond.
Expert Answers
Sort by Date
Sort by Votes
Aug 28, 2020
Salary increment is one such prospect that has been a part of the professional company standards and every employee looks forward to it. Under mentioned is the format of salary increment letter sent to the HR Department.
View Sample Letter
To,
Radhika Madaan,
HR Manager,
Tata Steel Industries,
Mumbai, India.
Dated: Dec 23th, 2017
Subject: Letter for Increment in Salary
Respected Madam,
I would like to bring to your notice that I have completed one year in your company as Senior Graphic Designer. As per the decided norms between us at the time of joining, I would like to request you for a 20 percent hike on my existing salary. I shall be highly grateful to you in doing so.
Thanks and Regards,
Aug 28, 2020
führerschein kaufen legal
Haben Sie eine MPU-Bestellung in Deutschland oder haben Sie Ihren Führerschein wegen Alkohol- und Drogenmissbrauch verloren? Wir haben die Lösung für Sie, wir können Ihnen einen neuen registrierten und legitimen Führerschein innerhalb von 4-5 Werktagen zur Verfügung stellen.
deutschen führerschein kaufen
führerschein in holland kaufen
führerschein ohne mpu kaufen
eu fs
kann man einen führerschein kaufen
kann man führerschein kaufen
May 19, 2020
Search engine optimization Seo Mostoles is a host of techniques, approaches, and strategies to prepare your website to be found by major search engines. It is often compared to alchemy. Everyone knows what SEO experts do, but very few know how they do it. In fact, many SEO gurus fiercely disagree on the how part. Many tactics are available, but SEO is not a cheap endeavor, so one has to be careful when allocating valuable advertising dollars to it.
Apr 23, 2020
When a small, medium or big sized business needs a competent search engine optimization (SEO) consultant, there are four options available. So, what are the challenges and what is the best option for your company? There are many points to consider before taking your decision.
Apr 18, 2020
Do the inquiries emerge, we need pandemics to alter profoundly? Wouldn't we be able to stay unflinching without dropping our human characteristics? Nature shows gave its fortunes of kindness toward us so why not be benevolent to His animals also. How about we promise to make our lives lined up with the methods for Nature and forgo diving into the expanse of shallow life where the rushes of otherworldly and good debacle overwhelm us without any problem. Disposable Surgical Gloves I wish we adhere to this period of inspiration and change in the "post-COVID-19 stage" also.
Mar 9, 2020
Buy Premium Quality CBD products from Royal CBD for 100% FREE SHIPPING and a 30-day money-back guarantee! shop CBD products
Mar 8, 2020
Finding the proper janitor provider employer to fit your needs can be hard. And finding a great one can be even extra difficult. Janitor services Scottsdale, Arizona So it's far essential to know exactly what you need to make sure fulfillment in choosing the proper janitorial agency. The first step in the process is to create two lists.
Mar 8, 2020
House Cleaning Scottsdale Pros That Will Make Your Place Sparkle. Our On-Demand, All Natural Services Aim To Please. Call Today And See For Yourself. house cleaners scottsdale arizona All Natural On Demand.
Mar 6, 2020
Very thanks, Would ask places like Robert Half institution and different recruitment kind firms, what contractors usually rate, after which base your data on a commonplace consensus,pure cannabidiol hemp extract oil or you can try Indeed's pay grade portal that quite effective. But the best manner is to be sincere.
Mar 2, 2020
Thank you, you're most genuinely accurate. I do not have a problem with contacting them through in-man or woman or the cellphone, however, often of thumb working with lawyers, we need to constantly format something in writing.archery Perhaps even a comply with-up the form of a letter. I am quite regarded in what I do and I admire your input.
Jun 8, 2015
Hi Amy. Clients love choices. Combine Scott and Mark's solutions ie consider what value you are creating for your clients then outline three options for them in writing. This moves their thoughts from - "Will I accept Amy's new price or look for someone else?" to "Which of Amy's options suits my business best?
Jun 7, 2015
I would ask places like Robert Half group and other recruitment type firms, what contractors usually charge, and then base your information on a common consensus, or you could try Indeed's pay grade portal thats pretty effective. But the best way is to be honest. How much are you worth, whats your targeted income and come up with a number. Be proud of your worth.Be confident in the number you come up with, and most companies will honor that. If your skill set is as valuable as you say, they will gladly pay war you ask because you have your niche, and have very low competition. So its in your best interest that way.
Jun 4, 2015
HI Amy, Whilst I agree with Scott - there's nothing like a face-to-face meeting to discuss your point - I agree with you that you need to put it in writing. I also agree with you that you should draft the letter first so that you have a consistent well-thought through argument for your meeting.
When drafting these letters you have two objectives; firstly, to get your clients to agree to the fee increase; and secondly, to maintain your client base. To achieve both, your argument needs to answer the question: "what's in it for me?" from the perspective of your client. My suggestion is a brief 5 paragraph letter:
Paragraph1states your intention and the benefit to your clients, eg "each year when I review my fees I set them so that my clients receive a service that is good value for money"
Paragraph 2 focuses on the value for money benefit and how you will continue to provide that after the fee increase.
Paragraph 3 states the new fee
Paragraph 4 invites your client to discuss the new fee with you should they wish to do so
Paragraph 5 takes the relationship into the future beyond the fee discussion eg "I look forward to continuing to working with you"
Mark
Jun 4, 2015
Amy: Why would you write a letter and not pickup the phone or meet with your valued clients to discuss a rate adjustment? On your website you say, "This service will save you money...". Assuming that you are providing value to your clients, they are highly satisfied with your service, and you are actually saving them money, you should be able to have a candid, value-based conversation with them on this topic, especially as any renewal period approaches.
Jun 4, 2015
Thank you Scott, you are most certainly correct. I do not have a problem with contacting them via in-person or the phone, but as a rule of thumb working with attorneys, we should always format something in writing. Perhaps even a follow-up sort of letter. I am highly regarded in what I do and I appreciate your input.
Thank you Mark. What great ideas I have received. Undoubtedly, it is obvious that the people here are successful in what they do!!!