I keep getting surprised each month by our firm financial reports indicating we are relatively on track with our pre-Covid budget, while also watching our overall billable hour numbers for the year continue to go down. So, it is really 2021, when our 2020 backlog AR won’t be rolling in, that I should really be planning to hunker down for?? Seems a bit like the disconnected stock market to economy.

likesmart
Posting as :
works at
You are currently posting as works at

Depends on how diversified the firm is into inelastic services and countercyclical groups like restructuring and bankruptcy (provided you have clients that can pay). In the short term we have still been very busy across the board, with only minor hiccups in utilization. We will just have to see how demand from the clients that are left standing changes over the long term for what we do at the prices we charge though. That’s the greatest uncertainty.

I’m also very annoyed with clients with booming market caps and revenue that are opportunistically demanding greater discounts because... covid.

likefunny

We have also been seeing clients who are doing fine be opportunistic on rate demands.

like

I truly believe we have two economies in this country right now. So many are struggling but apparently there is a lot of liquidity for those who are not. The past few months have been stellar for us. It is baffling. I have no idea if it will last of course.

like

2021 is going to hurt.

likesmart

Yes. Payments are for work from 3-6 months ago in general. 2021 will be bad.

likesmart

You need to watch the pipeline closely. Track your average days to collect and you’ll have an idea of when the lag will hit in collections to reflect the lower hours. We tracked everything very closely and the two metrics we are now watching more than any are the length of time from bill to pay and the realization rate. We’ve seen some companies enact unilateral discounts - while it is understandable in places, there are companies that don’t need to do that but are trying. Last, watch the client-specific ARs for those who have just stopped paying and start managing those relationships - hopefully back to health.

likesmart

Not sure how you all are seeing “on track” with hours down, unless variable costs are down too but, yes, I too am confused. Our revenue and hours are solid. Market for attorneys to hire is strong. File receipts slowed a bit, but not too much. Have the feeling though that we have another show to drop. Maybe two ...

like

We thought we’d know how bad after Q3 now not so sure.

like

Your firm must have also received PPP?

Related Posts

Are you guys as busy as you were pre-COVID? I'm at a no name and have had two transportation clients not want to sell anymore after the massive hit in March and April

like

H1b fish who were terminated by your former employers, did your employers offer flight ticket back to your home country?
My firm gave me $700 which is not enough to book a one way ticket in current Covid condition. I was wondering how i can negotiate higher amount. Any advice is much appreciated! Thanks!

like

Hi Fishes,
My Appraisal is due this september. Can anyone of you tell me how much hike can i expect.
Cctc:6.5
Designation:Engineer
Exp:2.6
I joined in jan2020 but the training period of our entire batch was extended due to covid. Hence getting first appraisal in sept 2021.
Thanks in Advance😀

Questions ask during the H-1B stamping in india? Would be helpful from folks who’ve interviewed during COVID. Thank you

like

Has anyone tested positive with COVID while pregnant? My spouse just tested positive and I’m staying someplace else to keep safe. But curious how worried I should be if I end up getting the virus?

like

Covid has been hard. March 2029- December 2020 I drank a lot to cope without realizing it. January- March I didn't realize I was depressed. March I came to terms with increase and ongoing suicidal ideation and needed help.

I went into a intensive outpatient program (IOP) which has been super helpful.

During the beginning of covid I drank every day and in a great deal. January it was a "dry" month which was hard the first week but overall great.

March 2021 realized I'm clinically depressed.

like

Hello BAs what are you all doing to improve your work products and stakeholder experience in these covid times

like

So supposed to head out of town for a long weekend with friends starting the evening of 4/21. My one friend and her son tested positive for Covid on 4/13 and have been sick. She says she is coming on our trip. On the following Thurs 4/28 I need to spend time with my 92 year old diabetic father. Do I go on this trip? I don’t think my friend has quarantined long enough to be sitting with 6 people driving in a van to our location unmasked as well as in the hotel room. Would you go on this trip?

like

There is almost nowhere to find reliable bonus information on Canadian firms. I’ve heard of year end bonuses ranging from 10-50% this year (not including Covid bonuses). Let’s start a thread posting year of call, rough billable hours worked and bonus as a percent of salary.

5 year call. 1850 hours. 10%.

like

I’m new to investments - my advisor in India asked me to start off with some corporate FDs and large cap mutual funds. Any thoughts, given the COVID scenario?

Hi, I did interview with amazon.

Round 1: HR round. cleared.

Round 2: Hiring manager round. Went well.

After 2 weeks they said Role no longer available. It was L5 supply chain role. This happened in April. Can I apply again in Amazon? I joined a company 3 months ago, does it look bad in CV to leave again in 3 months? I hv a 6 month gap in career in 2019 due to lay off (covid). total exp 9 yrs. SCM exp 6 yrs.

like

One of every 850 people in the state of North Dakota has died from COVID. We are a terrible country.

likefunny

Say I had a “friend” who gained 15 Covid lbs but is still on dating apps with old pics. Is that considered catfishing? She’s not overweight, but not fit anymore. Still good looking...she suspects. Is it best to update the pics? Or get on a BBW dating app? Definite fear of rejection at meeting. Thank God I’m asking for a friend because this shits embarrassing to type.

like

Last year when Covid broke, I received a couple of interview calls but ignored them as I felt the organization kept me at work when other companies cut short their HR staff so I should be with them even if with no appraisal. But now, I was living in the fool's paradise when I am told to leave with no job offers in hand, car and home loan, dependent parents, expecting jobless spouse with a 3-year old kid.

Has anyone had luck cancelling their lease due to to COVID? Haven’t been in my apartment since March and wondering if keeping the lease is worth it given it’s not looking like we’ll go back to the office this year.

like

How is anyone surprised that people like Caputo are highly politicized pieces of the COVID response

like

COVID 19 crisis should make all states compact for licensing. Precious time was lost while nurses who wanted to work waited for states to pass emergency laws.

like

A sleepy summer Sunday watching the end of a great test cricket match, grabbing a beer with friends and glorious weather. Honestly it is the first day since covid that life feels normal for me

like

More Posts

like

Hi,
Can someone tell me what salary can a supply chain personnel with 3.5 years of experience expect in India?

like

can anyone help me with standard package for Customer success manager/ key account manager salary. I have 2 years of experience. Need to know what can I expect for this role.

like

What do you do in between meetings where you don't have enough time to get anything done but it's like too much time to do nothing.

like

Boyfriend and I have been dating for ~1.5 years and we still only spend weekends together. I want to move in together at the 2 year mark but bf thinks it’s too soon... just feels our relationship is stagnant and not going anywhere. Any thoughts from ppl who’ve gone through similar situations?

like

What is everyone’s: (1) billable hours this year; (2) practice group; (3) year; and (4) size of law firm?

like

Hi Sharks,

Today I had senior manger round for senior analyst
Deloitte.
What salary range I should be asking if I proceed.

Project Management Domain
Location Hyderabad
Year of experience - 3.5 years

Any advice??

like

anyone else feels stuck at current job, but not able to apply due to upcoming paid maternity leave benefits that you don't want to miss out on? currently still in first trimester !

likehelpful

Hi!Please I’m looking for scrum master or business analyst roles.. I’m interested if you have any opportunities in your companies

any gays in here 😝

upliftingfunnylike

Hi guys,
Need help,I am joining
VMware Banglore on 27th June. During interview I told them I need wfh. They said it wil be wfh this entire year. Only mistake I did was i didn't permanent wfh. I took for granted like once I join i can opt for it ( as my VMware friends had said we can opt for it)
Now the offices have started, I am scared if they call me to office , I have 14months son, not willing to leave him n go for office.

So if I ask manager to give me permanent wfh will they agree ?

like

Is there an investment fund or group that anyone knows of? I heard of Fundraiser but it seems very convoluted. Looking for an investment group or development group to invest with

like

Is this the right time to buy a house as a primary residence. Everything is above listing price and going up on a weekly basis. What is your recommendation, be on rent for another year or two till the time property price go down or buy a house and save money on rent. Aprox budget is $500k and renting a house for 2200k per month as of now.

like

Hi - any good books recommendations for getting started on real estate investing?

like

I recently bought my 1st home in TX. I want to get into real estate and eventually own/rent out multiple homes. Are there any good recommendations/tips on books/articles/websites that others have used to get started?

I've read about HELOC and cash out refinance to get a 2nd home but articles are so scattered that it gets confusing which is better in terms of tax benefits and immediate costs, etc. Anything others have found helpful that summarized how to get started would be great!

like

I have 12+ yoe. I work in AWS with a 23L base, 13L JB and 5 RSU (29.8L ), L4. I am about to receive an offer from ADP . What band/grade would be great to negotiate. For ADP anything around 45L-48L including 12% variable (not sure about JB) is considered to be the right offer? I have another offer from Accenture 32L fixed, 10L variable, 6.4L JB. I guess wlb in Accenture would be more difficult than ADB?? What's your view fishes !!! Consider AWS and ADP in Hyderabad where Accenture in home town

like

Hi All, yoe - 8 and tech stack - Azure data engineer.
Telstra is offering 29 fixed + 2 variable pay. Is this ok or they can give more if I negotiate ?

Also, does telstra have good cloud projects and wlb and job security ?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal