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What is the average CTC offered for a Research Associate with 1 year of experience in Healthcare consulting?
I'm looking forward for opportunities, hence would be great to know the current CTC trends to effectively negotiate with the employer.
Thanks in advance!
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Look pal, I am not your buddy. Ours don’t actually. They pay a fixed fee for an outcome, recommendation, or set of deliverables. That fee covers our compensation, expenses, research reports, and hopefully some margin. They don’t care, or even know, what our expenses are. So sure, they pay our expenses like I pay rent for the flight attendants
what customer pays for you to stay in a st regis?
Oh young Padawan...you have so much to learn. There's always a way to get the rate down. I'm staying at one for less than $200/night.
I’m a manager and have managed many budgets. Our expenses are ours. On the vast majority of projects, clients can’t audit. Same for hours (which I know of different from other firms). We don’t charge time to clients
Is that how you become the “Lead” Associate?
Yup just link your accounts
OP, any tricks on how that can happen?
the fee structures aren’t semantics. there are different types of contracts. some customers literally pay expenses on top of your billable hours. a fixed fee contract is not the same. the customer pays a fixed fee for the implementation and has decided that the fee is commensurate. obviously the firm doing the work is using some of that fee to pay expenses, but if the expenses are too high, it’s the firm that eats it, not the customer.
LA OP, if you bill an all-inclusive flat fee as we do, clients can’t audit expenses. So clearly not just semantics.
Status match from what? It’s instant from Marriott now
Do you know if Marriot matches to SPG status? IE, if I sign up for a Marriott challenge, will my plat transfer to SPG?
Yea OP, how'd you negotiate?
I’ve negotiated rates down especially if I’m traveling consistently. SPG will have the hotel managers email high frequency guests to invite them to breakfasts or cocktails hours. I’ve never attended but been successful in requesting a rate that works with my project budget
OP is likely fed, so may be a gov rate
D1, not Fed. Got the hotel to give me a room at my client's dicsounted rate. SPG is great about working with guests like that.
Wait, your clients pay your expenses? Our firm pays ours...
Your clients pay yours too, buddy. That's how this business works.
BCG1... And where do you think a portion of that fixed fee goes? Crack open the books on any engagement f and you'll see real quick that, yes, your clients pay. Whether or not you bill the items separately or as a single, fixed fee, yes, they pay. The fee structures are purely semantics.
And you really haven't been in this business too long if you've never had a client ask to audit your expenses. That's why I avoid working for CFOs whenever possible: those jerks audit everything. I think it's endemeic to that c-suite position. They exist in a constant state of having to prove themselves better than you because they think they're smarter and better than everyone else in the company, and they get off digging through your expenses to know you spend less than they do.
In all fairness MBB is the only place that can command all-inclusive rates. OP is BAH which will never be able to pull off contracts like that
We definitely don't pull that off at the big A. Always fees and expenses as incurred, typically with a cap, as a % of fees. Very much auditable.