Until we move away from the billable hours model, there will not be true work life balance when free time is preferred. As you gain experience and knowledge within our field we are too knowledgeable to be equating our value to time spent discussing or doing. There is an inherent conflict from leaders that want to maximize revenue which means maximize billable hours and staff that minimize hours.

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

Simple solution. Leave public accounting and never look back.

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I’m on flex time

Ok

So then how do we measure revenue/COS? How do we rank performance?

Come up with a good solution first, and then you can critique the current establishment

EY2 - Yes, it doesn’t apply to all situations. You can still do hourly for your 4-6 month project, but in that case I would determine a monthly rate that should cover your fixed employee costs and a healthy margin that you and client can agree on since all they care about is the tax project/return being done and not hours unless they are being billed hourly.

As a tax manager or above, you should have a good idea of how complex something is and if you’re that concerned you can look at the actual project/return on a weekly basis to check the status. It’s the same issue if someone books 40 hours and actually works 20 hours. If you think your timesheets are accurate, I think you need to read what people actually do. They either under report or over report depending on the budget and what management has voluntold them to do. Also, with the knowledge gap due to lack of staff and tax law changes, we have staff/seniors that are not as knowledgeable so it’s not fair for a client to pay for longer hours on a project because they don’t know what they are doing. I’m theory timesheets should work because they worked in the past but they are not accurate anymore and there isn’t enough incentives for staff/seniors to make them accurate. If you don’t believe me, read up on it on Reddit or on here, where people are honest.

Related Posts

Is it a wise career decision to go from a national firm to a local but strong firm? Practiced with the national firm for a year and a half. The firms are the same type of law, but the smaller firm has less billable requirements and is offering higher salary/better bonus structure as well as more independence such as ability to completely run own case load.

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Smaller Firm Question - how long do you give associates to start making a profit (i.e. doing sufficient billable time that is collectible) before you begin with warnings or termination?

Scenario: 1 Senior associate transferred laterally but did not bring business (this was known), 1 Junior is 3 months in, but seems unable to bill even his own salary, no less enough to cover other overhead. I am billing more than both combined (both hours and $$) and it is driving me crazy.

Thoughts?

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Is it possible to work in tax while only working 40-45 hours per week? I like tax and learning about it, but I cannot keep up with the billable hours and constantly being in busy season.

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When should a stub start getting worried about not having much work and low billable hours?
I’ve asked for work but no luck. I know they say this is normal for a stub but when should I start getting worried and consider looking for exit options? Fyi, I like my practice group, so I don’t want to change to a different group within my firm, hence would have to lateral, if I have to. Also, other co-1st years are churning in high hours.

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This is not a sarcastic question, I genuinely want to know, how do you use PTO as an attorney? Is your billable hour requirement for the month offset, or are you expected to make it up? How do you make sure your cases are all good and there won’t be any fires while you’re gone?

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Did the billable hours bonus not get paid out today? Or is it to be paid in the next check?

Not excited by our bonus structure. Everything is dictated by billable hours and I’m just churning with no motivation.

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I know there are a ton of posts on billable hours requirements at many firms but do any other mid/senior level associates spend a TON of time on non-billables - group/dept./firm meetings; training; events; business development (writing articles, doing webinars, networking; outside association events); etc.? I feel like the number of hours spent on this is lost in the discussion sometimes and I know I spend an additional 300-400 hours on this per year. Anyone else?

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My law firm gives me a report that breaks down the amount of billable hours collected compared to how much I’ve been paid on a monthly basis. Does anyone else’s firm do this? At what point do you think it’s acceptable to ask for a bonus/raise?

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Everyday I can’t seem to hit the required billable hours. I’m overwhelmed by emails and people asking me where an item is. I feel like I’m not good enough. I keep making mistakes I shouldn’t make at my level. I wish I could just quit so I wouldn’t have to be miserable everyday.

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How many billable hours do you average per week?

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I heard so much about minimum billable hours here by staff. I never saw that email. Is it inly for certain groups?

Salary survey:

Base:
Years:
Number of attorneys:
Yearly billable requirements:
Bonus:

Ladies, do y’all enter time for emails? If yes, are y’all billing it to the client or as a non-billable time entry

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It is January 1, 2023 and you are closing you December time. You realize that you missed your annual bonus target of 2,000hrs by 1hr of billable time. Your firm has made it clear that you won’t get any bonus if you don’t hit the minimum. What, if anything, are you going to do?

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I particularly don't want to work in this last week of the year because I want the billable hours to count towards 2022.

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To the post below- it is quiet, so I’ll bite!
Does anyone know about associate compensation at the regional Atlantic Canada firms? The the big ones have all been posting job ads for associates in the 3-5 year range. Any insight on salary and billable targets?

What are firm’s known billable requirements? Is there a ramp up period?

Any thoughts on Maron Marval? Specifically their Texas office regarding workload, salary range and 1950 billable hours?

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What's the purpose of a state-run digital currency? Like how is that different from the already existing currency?

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I am on L1 visa , can I take up photography and modeling as a freelancer?

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What does my pymetrics report mean? Can’t tell if my score is good or bad.

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My director low-balled me on my offer and wouldn't negotiate. He got fired for doing the same thing to women on our team, now we're getting raises. Police escorted him out and I lol'd real hard

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Hi everyone,
Received the email saying TCS will deduct health insurance premium for entire year. I have about a month left in TCS. Found some random quora answer about converting it to individual policy before leaving, does anybody have any idea about this process. And will converting to individual policy help me avoid paying the entire premium for my parents.

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Cognizant

Post Photo
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THIS IS NOT A DRILL. Walmart dropping PS5/Xbox Series consoles at 4pm EST. Get your wallets/purses ready! This may be a Walmart+ deal, so get in there!

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Am I the only one who just can’t cope having my kids home and trying to work? This week my 1 and 2.5 year old were home with Covid (which my husband and I also caught) and I STRUGGLED. I pride myself so much in being a good employee and a good mom that when I feel like I’m not excelling in either category I just crumble. I love my children more than anything but how do people do it?!

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Dealing with this now on a project so here’s a reminder: you don’t have to work 24 hrs/day to be a top performer. In fact, when you’re sending emails at all hours of the night, you’re probably costing yourself key opportunities because leadership will see that and try to protect you from yourself because you’re “too busy”.

Impact > activity. Act accordingly.

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Anyone want to catch the game at a bar?

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Additional Posts in Tax Bowl

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