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So true 😅
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Audit > FDD > t15 MBA > BB IB
Thoughts?
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Pro
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You don't get rewarded for exceeding targets only punished if you don't meet them
Pro
It’s a metric for hours billed.
Ideally yes. 80% was your lowest acceptable number when I was there, might differ between areas.
Don't worry about it - Bain doesn't tie bonuses to utilization. Some firms use it to essentially ensure that everyone maintains a certain threshold of billable hours.
Chief
Shout out to bain, that’s dope! I developed an internal app for my team on non-billable time and all I got was Disney dollar points to use in our online swag/gift shop lmao
So at Bain if you are focusing on recruitment/internal activities year round, do you make the same amount of money as peers who get hard dollars for the firm?
There’s 3 tiers of bonuses here: target (normal baseline), above average, and top performers. Each level gets you more bonus money, with top performers making double the bonus of target. At lower levels the bonuses are smaller so the different isn’t as huge. At higher level the bonuses become much larger, so a top performer might have a six figure difference in take home compared to an average performer.
Apart from that there are some soft benefits to being a top performer: access to certain programs, more choice over which cases you take, access to really coveted projects. As you get into manager level and above, your reputation becomes more and more important.
There is no fast track to promotion, you can shave like 3 months off the promotion to manager lol
Chief
It's the old school "measure work by inputs" mentality of micromanagers and those simply out of touch, which is a pretty meaningless stat compared to outputs, but too late to upheave the company culture at this point
But that’s how service based firm make $$, by selling time. It is simple math more hours you charge to the client more dollars you bring to the firm and in return partners give you more peanuts from their share
Pro
Okay, that’s staffing rate.
The sector average is between 70-80%.
So average bench time rate is around 20-30%.
Again that’s a sector wide average.
If you have 80-90% staffing rate, I would say that’s pretty good.
Bench time is when new offers are built, it should be better seen… especially when it’s a growth enabler.