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Hey fishes,
I have given the interview in Hexaware and later on I got the email to fill the CAF form which is also done. Nos it's been 20 days and no call, no e-mail at all! I can see the status as offet pending.
I am on notice period and I have only 1 month remaining.
Is it like, hexaware will release the offer at the end time or something! Because I'm eagerly waiting for the offer as I don't have much time now!
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I don’t think first years are generally profitable, so I think you’re doing just fine. Trying to bring in 3x makes sense down the line though.
1/3 goes to overhead, 1/3 to your salary and 1/3 to profit
So you should be collecting well over your salary
Have you heard of the rule of thirds?
As a follow-up (and as others have mentioned): associates are rarely “profitable” for their firm in their first 1-2 (and sometimes maybe even 3) years. The exact number of years they’ll give you to become profitable/satisfy the rule of thirds is very firm specific. So, in your first year or two I’d focus mainly on learning/honing your craft, meeting or exceeding expectations (re: hours, work product, established deadlines, etc.), and building relationships with clients and others within your firm. If your annual collections in the first year or two are at least 2x your total comp (covering your comp and overhead allocation), then you *should* be just fine.
As a first year at a firm with a low billable rate, I still collected more than 2x my salary as a first year (mostly because my realization was 97%). I wasn’t in lit, but not hitting at least 2x doesn’t sound great for any practice as a first year.
Thx