Discuss your salary

dave4545454

my yearly salary is £0 doing voluntary charity work.

it's all about being good with money rather than how much you earn. i don't have a big salary but i've paid off my liar mortgage, have zero debts and good savings.

bendix

GRM wrote: »

True story. I work for an IT consultancy. We were bidding to supply a new system that included payroll to a city legal firm - top 20 but not magic circle. Whilst discussing partner renumeration, it was explained that the partners each take £11,000 a month net and the balance is worked out at year end and distributed.

One of the partners rang the payroll department to ask which bank account his £11,000 a month was paid into.

Must be nice

They have an intake of new staff twice a year; they start on £64,000. Their bonus is structured in such a way that there is a significant rise if they manage to bill more than 2,000 hours a year. Divide that by 52....

£11000 a months drawing is not particular high. The magic circle firms would likely double that, and then have the balance paid as profit drawings every quarter.

On the 2000 hours. That is actually very high. You suggest that divided it is 38hours. When you take into account holidays etc, it get harder, but the real challenge is that it's 2000 hours of billable time, not total work time. You might need to work a 70 hour week to have 40 hours billable.

GRM

bendix wrote: »

On the 2000 hours. That is actually very high. You suggest that divided it is 38hours. When you take into account holidays etc, it get harder, but the real challenge is that it's 2000 hours of billable time, not total work time. You might need to work a 70 hour week to have 40 hours billable.

Indeed that was my, slightly oblique, point. If my consultants manage 1200 billable hours a year I'm happy, 2000 must be insane. I think their standard bonus kicks in at 1700.

bendix

GRM wrote: »

Indeed that was my, slightly oblique, point. If my consultants manage 1200 billable hours a year I'm happy, 2000 must be insane. I think their standard bonus kicks in at 1700.

Some firms are getting even tougher. Forget bonuses - to even be considered for a payrise they are being given very aggressive billable hour targets.

sammyjammy

IveSeenTheLight wrote: »

I don't know, do we need to know how fancy a car one drives?

P.s I drive a Ford Ranger more for dafety than for the safety than the sexual pull

If thats a picture of one then there is no sexual pull anyway

misskool

I need a job that I can bill by the hour

N1AK

bendix wrote: »

You see, mate, the big problem with all this is that you assume people give a damn about who you are . . .

I know I don't

What makes you think anyone is interested in piecing together the various bits of the jigsaw of someone whom - to us - is a valued contributor to the forum but, in all other regards, just a few lines on an a pixellated screen?

The fact that I am, and if I am then people who are more capable of collecting, analysing and using that information also will be. The value, and power gained by linking together disparate data sources and linking them to individuals is massive. One of the main reasons is exactly because they will say many things 'pseudo-anonymously' that they wouldn't directly.

- - -
As to the original question £29k pa. Actually having more money isn't my main concern, but I do have the common character flaw that links success with seniority and pay packet.

chucky

misskool wrote: »

I need a job that I can bill by the hour

you want a job that you can invoice by the day!!!

lostinrates

N1AK wrote: »

One of the main reasons is exactly because they will say many things 'pseudo-anonymously' that they wouldn't directly.

.

But I guess some people also make things up.

chewmylegoff

dave4545454 wrote: »

my yearly salary is £0 doing voluntary charity work.

it's all about being good with money rather than how much you earn. i don't have a big salary but i've paid off my liar mortgage, have zero debts and good savings.

your made up savings figure in your signature is getting a bit out of date, shouldn't you change it to october 2010 and add a few grand or something.