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Larsen & Toubro Infotech Hello Fishes,
Need few valuable suggestions on below situation.
One guy A joined as a fresher in Wipro for 3.5LPA(been 3 months around, no project allocated yet),
And then an offer was in pipeline with Y and finally received an offer with 5LPA and the role is related to cyber security.
Note: pf account is already created by wipro and Y is a good mnc though Any suggestions on how to handle this situation?
Thanks in advance
Tata Consultancy Infosys Wipro Larsen & Toubro Infotech Capgemini
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29 M - Any one in Montreal for a relationship?
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Kind of like a secret Santa without any guidelines. Bring your billable hours to the firm as a gift, and the firm will bring a bonus.
But because no one set a dollar limit for the gift you might get screwed by bringing the best gift and getting clearance Halloween stuff in return.
Ok so we work together
At my firm, once you meet your billable requirement (1850) + 100 hours of client development, you take home 1/3 of the amount by which your dollars invoiced exceed 3 times your base salary. I really like the system.
Bingo
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Black box
Gross
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1200 hours, set dollar amount for each hour beyond 1200. Boutique firm. If I billed BigLaw hours I'd make BigLaw money...but that's not why I joined a boutique with a 1200 requirement.
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A8 - read a recruiter email that sounded too good to be true. My wife convinced me to contact the recruiter because "worst case it's BS and you've only wasted a few minutes". One thing led to another and here I am, working from home all the time even pre-COVID. It's sort of a unicorn job; I just got lucky and had the resume/experience they were looking for.
Lol. Bonuses?
1950, no limit on pro bono
Hello from another colleague.
2000, 200 of which can be pro bono/firm billable
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Same, though only 100 of the 200 can be firm billable (all 200 could be pro bono if you want)
lol what’s a bonus.
Cravath scale, no minimum hours target. As long as your work product is up to scratch you get the bonus. V5 firm, not NY office.
Think I’m at the same firm A18
Am law firm black box. I’m afraid to ask but what is a cravat scale bonus for 2000 hours? (As I’m about to hit 2100 and make peanuts)
It depends on your year. I believe last year cravath scale was 1st year =15k, 2nd= 25, 3rd = 50, 4th = 65, 5th =80, then 90, then 100. Of course actual take home is about half that
1900, as much pro bono as you want
Yes. V10
My firm’s (medium sized boutique with Fortune 100 company clients) bonus policy is not great. The maximum you can get as a junior associate is $10,000 and the max as a senior associate is $25,000. Our billable is 1800, however, we cannot bill for any pro bono or firm non-billable work (even though we are required to write legal articles monthly, attend weekly trainings, and engage in other non-billable activities). They don’t have a clear method for calculating your bonus, so a lot of office politics come into play.
A24: billing 1800 hrs is certainly not killing yourself... I billed 2200+ last year + did my 300 required nonbillable hrs (business development and professional development time, like a1 says about training meetings and writing articles, networking events etc).
Billing 2300 is killing yourself so gotta at least get beaucoup bucks for it
1850 and bonuses tend to be somewhere between 5 and 15K. Not required to exceed billable target to earn bonus.
$5,000 with 275,000 receivables
$15,000 with $350,000 receivables
I recently started at a big law firm in the U.S. so I have no idea how the bonus works at this firm. I was in a big firm in Canada and bonus if you hit target (1800) was about 15-20% of your pay, but the salary is generally less in Canada.
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How prevalent is this “black box” thing people are talking about? This many Firms really do that?
I left my last firm partly because it switches to merit pay and black box around year 5, and I knew from talking to more senior associates that the black box bonuses were often lower than they made as junior associates. And that there were documented cases of gender bias in the black box system. (And this firm wonders why it can’t keep any homegrown associates past 4th year.)
I’ve only heard of 1 AM Law 100 firm that does this but I could be wrong
Our firm has guaranteed cravath bonus, regardless of hours. Bonuses above that amount based on hours, with 2000 and 2200 generally being general tipping points
I work for a boutique IP firm. Associates are required to bill 3 times our salary and do 200 hours of non-billable time (e.g., CLE, pro-bono, community outreach, etc.). For every dollar billed above 3X, we receive .50 as a bonus.
What’s your billing rate and how many hours do you end up billing annually
No minimum. V30.
Same with my previous firm. V10.
2k, no pro bono requirements. Bonus is dependent on quarterly amount of hours billed over the quarter minimum. Bonuses are tiered by the amount of your avg monthly totals. Lowest bonus is 1k. Highest is 2.5k. They used to be higher but they’ve been dropped due to COVID.