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Hello All, I have one question. I was a fresher and joined one organization as external employee with third party payroll. I worked as external payroll for 1 year then I became permanent employee of organization was working. When i was a fresher my salary was below tax slab so my external exployer did not generate any form 16 for me. When tried to switch my new organization wants me to submit form 16 as BGC process. Will my offer get reverted?Cognizant Tata Consultancy HCL Technologies Accenture
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How many employees does KGS have in total?
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I have zero sense of what I would want my hourly rate to be. Haha From a billable hour standpoint, I think a 1,500 requirement would be ideal. That said, I think the more important question is how busy is the team you’re joining? If they’re always slammed, you’ll end up billing until the work is done, regardless of the requirement.
That’s a fair point. I think they’re pretty busy, but I can learn more from a friend who works there.
The billed v. billable requirement also throws me, but the ability to set my own rate puts an interesting spin on things.
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$295, 1500 hours
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Hourly rate is, and should be, a partner level responsibility. I don’t see any world where it makes sense to have associates determine that.
For hours, 1500-1600 billed is probably ideal in terms of being busy enough to routinely fill up a day (including non-billable work and uncaptured time) and still maintain a normal adult life.
Hourly rate makes sense if you are setting up a firm for experienced attorneys, and where compensation is tied to production. I almost took a job with a firm that did that - attorneys set their own rate and work as many hours as I wanted, and take home 1/2-2/3 of collections.
Associates should not be setting their own hourly rates, and presumably salary is based on some formula based on (a) and (b), if this is going to work at all.
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I think this is going to be highly dependent on firm and practice area.
For reference, the firm I’m looking at has 100-150 attorneys and is in a metro area in the Midwest. The work is transactional, usually with deadlines that are fairly far out. Client budgets tend to be low for the quality of work expected.
The specifics of my situation are less important. I was just curious what others would choose, if given the option.
None. Flat rates based on fee schedules and if a matter is hourly, just bill your time on it at whatever reasonable rate. I’m not interested in counting anyone’s hours like some bean counter. But I want my associate billing out 3x their salary.
$295, 1600
I was at a boutique like this during my 1L summer. If I recall correctly my billable rate was around $150 as a summer and people generally started at somewhere between $200-300 their first year. This was based on the cost of each transaction + how many hours you realistically thought you needed to complete the task. I’m sure your future coworkers will be good resources re. how long things take them.
Not sure how many hours/year everyone was working. There was one attorney who decided to take a 30% hours & pay cut to spend a few months throughout the year traveling, which seemed to work well for her.
What would be the point of allowing associates to choose their own bill rate and hours? How does that impact their compensation?
I haven’t interviewed yet and don’t have all the details. But my guess would be that compensation is similar to what P1 suggested. I think the structure is a good alternative to those firms that strictly have a “billed” hours requirement where you have little to no control over how many of your billable hours are written off v. billed to clients. At least here, you’d be setting your own rate, which would factor into how many of your hours are ultimately billed out to the client.