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Hi All, I wanted to know how is EXL Hyderabad location. In terms of work life, job security, Pay etc. Currently my negotiations are in progress. They are offering me the Hyderabad location with 20LPA Fixed for 6 YOE. Project is UK Banking Related.
Any inputs are welcome.
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You're way underpaid. Following the 1/3 idea, you'd get 1/3 of what you bill, the partner would pocket 1/3, and the other 1/3 would cover firm expenses/savings.
I'd ask for $150k straight salary. Or, alternatively, ask to keep your base salary, but then take an additional 1/3 of billable hours over your personal overhead (salary, benefits, costs, etc.). That would ease the attorney's mind of carrying the overhead of a huge salary, and would incentivize and reward you for hard worrk.
Now ask for more money now. Ask for 100k
I’ll make my firm around 700k and make 185k. Going to ask for a raise soon too. If you’re billing almost 600k I think you should make well over 100k.
I worked at a firm of that size in the Chicago suburbs about 10 years ago where our brand new associate started at 75 plus hours bonuses. My only slightly larger downtown Chicago firm paid newly licensed associates 90-110. I am not sure what’s the right number but fyi I think you may be extremely underpaid.
I’d pitch them a plan that’s nuanced, reflects your thoughtfulness and willingness to invest in their firm, and is hard to say no to.
That plan would look something like the 1/3, 1/3, 1/3 idea. Or just base salary plus a cut. Or base plus a bigger cut after the base is covered. But I would break the numbers down to show your value and the cost of them investing in you. Good luck!
Start applying for jobs at other firms.
You need to apply elsewhere in the event they don’t pay you at least 120k.
Thanks everyone for the reassuring feedback. I guess my next question would be how does one ask for such a significant raise? I should mention when I was offered the job, I was offered $55k, I came back with 75k, and was told $59k was the highest so that negotiation experience concerns me. I absolutely love my job and would prefer not to leave, but it’s clear I’m being paid a criminally low salary
When I was making 130k I asked for a 50k raise and got it. Went in and explained my contribution to the firm. I had a packet with me of data showing it was market rate. Didn’t have to open it. Helps if you bring business to the firm and they see you as a long term investment. That said my boss was shocked by the ask
First year associate so forgive me for the ignorance. But does the firm actually collect all of that? The small firm I am at usually cuts the hours I bill by half. Then again they charge $350 an hour to clients, and pay me about $30 an hour.
Not ignorant at all! Not a ton of my hours get cut. I’m leading some cases so I’m doing the primary work on the case. She’ll cut some here and there but it’s usually not by much. After I posted I realized a gave my “pre-cut” number. But I’ll still be bringing in at least 9X my salary if my post-cut billing stays consistent
How fungible are you? Can they just get another recent graduate to do and bill the same work? Asking as there is a big difference between being responsible for the work being at the firm and just being the one grinding through.
You should absolutely ask for a raise, but balance your ask with how concerned you would be if you had to go into the job market. If you'd rather look than be underpaid then ask for 1/3, but I'd prob suggest asking for $100k base plus decent incentives for billables to be paid quarterly.
Thank you. Asking for a cut of billables quarterly is something I didn’t think of. Mine is yearly on any case I bring in but it’s still only 20% and so far I haven’t brought anyone in yet (although my boss has recognized my efforts). Waiting until the end of each year seems a little long now that you’ve suggested quarterly.
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Hey so did you ever get that raise you asked for? Asking because I’m in a similar situation.