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Hi folks, how is thoughtworks as an organisation? Asking because I don't know much about it and have received recruiter's call today. Currently I am working in Deloitte. How is thoughtworks hikes, wlb, does it provide any benefits apart from fixed pay? My research gives me a mixed review: some say it's good, some say that thoughtworks is not stable enough like big 4 or other organisations. Pls help Deloitte Thoughtworks
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Um, OP, maybe you should take this conversation out of a public forum? I'm not sure what the PwC social media policy is, but I would bet folding money that this violates it.
D1 hardly, there is no personally identifiable info, and I would assume (HOPE) that is dummy data considering that’s a crazy low margin.
Op Margin depends on what you can actually bill the client. So if it’s fixed at 100, then yes you’re margin is 20k regardless of the actual value of work performed (120k).
Here is my recommendation, setup a call with finance and have them walk you through the process of managing engagement finances and how to interpret each number. This will then give you the greatest understanding of how to manage your engagement finances going forward. You are not the first, nor will you be the last, to be confused on what each category means and how to filter through all the data.
I just chose easy numbers to help figure out problem but didn’t mean to post publicly either way!
which client? only then i can address your question.
On a side note - there are multiple finance trainings through Vantage that you can take to help you understand how our engagement finances work.
$120k is meaningless in this scenario other than perhaps to calculate planned margin vs actual. Don’t know why you would allow a deal to be “valued” at more than you are contractually able to collect if I understood your post correctly. Gross Margin would be $20k.
Thanks PwC 1, I still don’t understand why my margin wouldn’t just be fee paid by client (100) - resource costs (80). Assuming no expenses. The engagement value / engagement revenue figure in eGFS seems like a fictional amount to me since it will never be realized. What am I missing?
which client? only then i can address your question.
Im with IBM1. Either p1 didn’t read my post right or I’m not familiar with whatever whack way PwC does it. Margin = rev - cost; revenue for margin purposes should be what you charge the client.
The margin is 100k - 80k = 20k. The issue is you didn’t accrue the revenue properly (has to do with how the wbs was setup) and you are going to have to realize a performance loss of 120k - 100k = 20k. That does not mean a loss on the engagement though. The way the financial system was recognizing revenue it thought you were going to have revenue of 120k but can obviously only collect 100k.
That would mean there is a 20k gain on the code, minus expenses if you had any.
There is a report in eGFS that you can run that shows you engagement margin, I think it is “engagement history by WBS”.
OP - Don’t listen to EY, EM is built into resource cost based on what EM % was defined when they setup the WBS code.
I sat through the training last night but only very small section applies to fixed fee. My director thinks we should be using engagement value unless I can prove otherwise.
Thanks all, I will set up a call with finance!
Do you have a project controller?
Oh. The sale was booked at $120k. Got it
No the sale was not booked as 120k.
Then what was it booked at?