I'm working as an engineering contractor for a company. I'm doing this part-time. We have an agreement that I let them know a week in advance whether I'll be at college taking courses or working on the company's project. The project is long-term.
Recently, I've taken a lot of extra courses and the split between school and work has been about 50/50. The company would like me to spend more time on the project, making hints about monetary incentives. However, a flatout raise was refused, since they feel that it won't really make me put in more hours. They're right.
Here's an arrangement I have in mind: For every week spent at the company, my hourly rate goes up a notch. E.g. I charge $5/hr for 40 hours, $6/hr for 80 hours, $7/hr for 120 hrs and so on.
Would that make sense? Am I even approaching this from the right angle? This is my first serious job, input from those with more experience would be appreciated.