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You’re not imagining it.. I’ve noticed the same trend. Feels like more competition and budget cuts are driving rates down. Have you seen this across all clients or just certain industries? I’m wondering if it’s temporary or a longer-term shift.
Rates have definitely gone down in the last year to I imagine the increased supply in the market.
Coach
I first noticed rates going down in 2023 and they’ve just continued to go down
It isn’t what it used to be! Feels like the worst mix of over saturation in the market, pessimistic outlooks (companies/clients do not want to spend any more then they have to on anything), even if it means sacrificing quality and experience. Not really sure when or if the trend will start to reverse itself.
I'm sure it's just a function of the market, pure supply and demand at work. Companies can make lowball offers and people who need the work will take them. It's no doubt related to layoffs, and with everything going on, that scenario is likely to continue.