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Our Philadelphia-area boutique firm whose practice works exclusively with nonprofits and charities is hiring due to growth. Tax is the basis of Exempt Org work. That is why I am posting here. Great practice working to further charitable missions of our clients. Good WLB (1300 hour billable requirement). Opportunity for the right person to work remotely. DM me or email to recruiting@laurasolomonesq.com. Www.laurasolomonesq.com
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Is Morgan Stanley currently remote? Just got a job for a contract position in NYC for Morgan Stanley downtown office (1 Penn plaza). I heard from some employees that they are remote but the hiring manager said I should come into office. Kinda confused why a contractor would need to come into office and employees are working remote.
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We shouldn't have to feel bad about taking our PTO though... it just contributes to a culture of "who can show more 'dedication' via not taking PTO/working long hours/answering emails at ridiculous times"
No, it's not really fair... but the denominator also assumes a 40-hr work week, which usually allows you to meet utilization billing "typical" 45-hr weeks even with some PTO/beach time. I remember a couple years ago they had a survey for improvements and two of the top vote-getters were having PTO not negatively affect utilization and being paid for expired PTO
More the practitioners bill, the more the firm makes. Also every has metrics, your practice lead need to show X% utilization as leads of practices. The rM need to show they staffed X practitioners. It is how it is, if u ask that question to any senior leader, they will say well u should bill 55-60 hrs a week hence u make up for the PTO. Reality is way diff
There are several types of contracts that differ in how the firm bills clients and they make money. Firm fixed price is a set cost, while time and materials charges directly based on the number of hours billed.
Ideally they should remove PTO from denominator, but they don't. That's because it might be unfair for someone who has taken 0 days off entire year vs someone who has taken 25 days off
D1.. I disagree. Even if you account for PTO, utilization will still take a hit if you are on the beach. DD1 and D2 have good points, but why compare people based on the number of off days they take, as long as they perform well? A PTO is anyway only "approved" if it doesn't have any impact on the project or if you are on the beach
Technically you can take all 25 days of vacation , 5 trading days and 1 week of beach and still hit targets. So the way they see it they penalize you for beach time not PTO.
Well in the end utilization = money for the firm so in that sense it is project "impact"...
Well, if I am not wrong, the way contracts are drawn up, we charge clients for X resources working Y hours. Someone taking a PTO doesn't effect the money firm is making as long as deliverables are not affected
I never cared to really dig into the details of how that money gets accounted for internally but I've always been told that somehow billed hours does have an impact, hence issues when they don't have enough hours budgeted in a contract for work being done. There was also an email recently encouraging people to bill an extra hour as if it would somehow contribute to our firm financials... Anyone have additional insight into this?
Ah! That's interesting to know.
I hate people resorting to explaining away PTO being counted with the 45 hour work week; both 40 and 45 are fake numbers for all they are worth. The denominator is 52*40 - seemingly not taking into account even holidays like Christmas etc. BA/C's particularly in S&O have to hit 90% util, and with short projects and required rotation, only one week on beach time is so much lower than what it usually turns out to be.
Fuck that I take all 25 days off and still get 1s and 2s
90% target is for 2nd year BAs and Consultants - if you're on the beach that much as a 2nd year, the utilization hit is the least of your worries
It's not just about hitting your target. Utilization is an important matrix. Even if you hit your target, individuals shouldn't be compared based on how many PTOs they have taken. This just encourages the culture of not takin vaca/working long hours instead of encouraging quality output even if u have to take time off
It shouldn't be part of the equation. It completely nullifies all F&P efforts because it leaves you stranded in the case of a few weeks on the beach (even when beyond your control). The 45-hr week doesn't solve for much, per some of the above comments.