What is more important to a firm’s bottom line—billable hours or worked amount/ collections? And what do they go by for promotion decisions? My billable hours were lower than last year but worked $ amount stayed the same and my collections went up.

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Collections are most important. You can bill 3000 hours but if you only collect on 1000 of them, you might as well have billed 1100.

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Just billing a ton doesn’t matter much. You need to bring money in. And hopefully at something resembling your billed rate.

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