I don’t think that would be too high… But then again I don’t know how much you actually get for a contract (my guess is that it varies)…
But as I said, i spent maybe 30 or so days on trying to get the reputation up, and it’s already back to neutral, and some of the settlements / cities are not even visible in my factions tab… So I would think that the degradation is faster than 1 point every 2 days… Or maybe it’s a bug for me. Who knows.