Regardless of how you're paid your total compensation is defined by the underlying market forces. If you "fix the rates" and then the market turns, if you try and keep your rates while everyone else lowers their pay to adjust for the new normal, well, you get to be the next Comair.

So by all means, go for the rates, or however else you think you should be paid, but don't kid yourself that locking in pay rates insulates you from economic downturn.