Related Posts
Anybody know if there’s a Toronto Lawyers bowl?
Bowl Leader
Additional Posts in Accounting
How much are EY experienced hire sign bonus?
Pro
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
We applied our tech fee, admin fee, and see here… addendum IV… that’s our asshole surcharge.
Heard standard rates and asshole surcharge going up 10/1
“Inflation bro”
Horrible advise. Last thing you want to do!
Well if you prepared it with any kind of framework and/or reference in mind, you should be able to explain.
Rising Star
Tell them they can always do it themselves
Just tell them it’s not high and that they should go back and reevaluate their budget.
A lot depends on the type of work but regardless you need a good way of describing the value they get for the fees
Is this a recurring or new/discrete project? I work in technical accounting and have had to explain to clients where the complexities lie (e.g. there is xyz clause which requires an analysis as to its treatment as A or B under IFRS 123).
“Happy to discuss if there are questions and we can confirm we are aligned scope and level of effort.” Prep a work plan that shows the tasks and estimated hours and discuss with the partner and schedule a call with the client to walk through.
also be comfortable to walk away if you cannot get to agreement in scope and fees. Was a hard lesson for me as i always wanted to please the client - but giving away work doesn’t benefit anyone.
Ask the partner. You should not have fee discussions on your own.
Rising Star
“Because we offshore the work to India where the labor costs are lower. Oh wait. One second, let me invite the partner to the call”
Explain your methodology - hourly rates for staffing, work to be performed and estimated hours to perform it. Hold firm.
Because we charge the same rates of our India colleagues as we do for US personnel, even though the actual cost is much lower.
Don’t mind it and you should have quoted higher to let the silly clients that like to show they’re worth something by bargaining feel like they won …
Show them the build up of how you got to that fee. It may be either them not understanding complexities or you are assuming scope that isn’t needed.
Fair and it does depend on service. My service can often get to larger $ amounts than clients expect for what may seem like a one ask - so I break down fees by scope … showing $15k to write a technical memo seems less scary than $400k for full project.