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yes, although more senior folks have their EAs do it
No, we write 7h - doesn‘t matter how much we actually work
Internal planning I guess? We do the same, entering 8 hours every day - it’s used for staffing and planning purposes. At the end of the day, I don’t see why the number of hours entered really matters. We don’t get billed out by the hour, and we don’t get paid by the hour
Hours for us is more to ensure a case isn’t going too crazy. For revenue recognition purposes, it helps the firm get % of case value weekly. From review perspective, it’s mostly a binary ‘can people work with you or not’ with the obvious consequences
Interesting so is utilization % factored into bonuses?
Why bother doing time entry, then?
I thought MBB didn’t eat hours
In some countries it‘s a legal obligation to file, so - thanks France - we all file the min required amount, i.e. 7h
Yeah we don’t eat hours (we have a “shadow” time code for the extra hours) although some people choose just to report the fixed amount since they don’t see value in spending the extra time to track real hours (I always put real hours though)
Most people report actuals for 2 reasons:
1. Allocate our time correctly across cases, vacation, holiday.
2. Let people know if you’re dying aka “red zone report.”
Some people report the minimum because it’s easier and might do actuals only if they need to raise a flag.
Utilization isn’t a performance metric. It is viewable in one report, but low util is viewed as a symptom of poor performance, not a metric unto itself