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Could anyone kindly tell me about the Investment Management and Private Equity Audit Group at Deloitte? 1. Work Life Balance (Is it worst than the ordinary Big 4 WLB?) 2. Is it an entirely different audit from commercial/retail audits (think account balances etc.) 3. Difficult to learn how to audit clients in this industry without prior experience in the industry?(been doing commercial audits for 3 years) 4. Are there relatively good exit opportunities for this audit group? Deloitte PwC EY
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How many we talking about? I’m a very “pro associate” partner but this is unacceptable. The job is demanding and while we shouldn’t make associates’ lives harder for the sake of doing so, expecting them to bill 150-160 a month is not unreasonable (assuming they’re compensated fairly).
If your requirement is 1700 for associates that puts a very different perspective on asking them to bill 150-160 a month.
My patience is at its snub end.
I get being stressed out, especially when you're new and don't really know what you're doing, however, THAT'S WHAT ALL THE MONEY IS FOR.
We cannot get anyone to bill more than that 130 or so range but a few busy excellent partners. It’s like no one can work or will work that much. But it’s not a crazy expectation and the work is there and we reward associates and partners for meeting and exceeding these goals. So wtf? What motivates people. Threat of less pay? Just different than when I was associate.
A lot different. No more than 130 hours at Big Law pay? Where do I send my resume?
Small firm, but after usually 2.5 years, compensation is tied to revenue generated and collected. I.e. Not the Billable Hour, but the billable hour actually COLLECTED. Income is tied to how hard they want to work, and how smart they work. IMHO, It's the best way to keep work balance in their hands. I then mentor on "I want to make more" and "I'm working so much". We talk about what is like on the other side or partnership, you only get paid if the revenue is there... Most still leave, but more than half of those later admit they wish they had stayed.
um are we at the same firm??? *hugs* (millennials, bruh)
Lol maybe. DC?
The complaining associates both left so hopefully the environment improves. That kind of negativity is contagious.
Depending on the salary, this may not be that bad. If they start billing more than the required they are making less than the mod to large firm colleagues for the same number of hours and are not experienced enough to know the upsides of being able to build a practice. Plus with more remote court appearances, mediations, etc. the hours are “harder”. No more 2 hour billable CMCs without the travel. I guess it depends on the area or practice. If there is a reason to do the work, then jamming in a 190 hour month is appropriate, but if it they are expected to bill 150 or 160 then you are just asking for a higher billable requirement than the number quoted to them. This all coupled with a different work ethic than I can ever recall seeing in the younger groups just guarantees someone poaching them as soon as they are trained.
They are expected to bill 145, and that had been clear since well before they are hired. We don't do a lot of court appearances, so that hasn't changed. They are saying that they are overwhelmed, but the hours are low and assignments aren't getting done.
We haven't had any issues with similar billing requirements. First, I help the associates visualize how many hours per workday that really is. I used to have daily goals as an associate and it was really helpful. That much is between 6-7 hours a day with good vacation time. Also, I help associates develop efficient habits so that more of their time is spent on billable tasks. I find that some initial coaching on these two topics gets people on the right track and staves off stress and complaint.
6-7 billable hours per day? Where do I send my resume?
What’s your hiring process like? What schools and qualifications?