Sure, I understand. 3x multiplier. Nope not in that range.?ÿ
Sure, I understand. 3x multiplier. Nope not in that range.?ÿ
3x is for the?ÿhoi polloi. Those figures for senior PLSs that James quoted are probably 4x or 5x, and the person charging them is no more than 50% billable at those rates.?ÿ
There are some firms here in StL that cant even get a bite on a billable rate of 110, in SE Missouri way lower, way...
One reason I moved West was the better pay. We still have lowball knuckleheads, but the move was my best choice ever.
Sure, I understand. 3x multiplier. Nope not in that range.?ÿ
3x is for the?ÿhoi polloi. Those figures for senior PLSs that James quoted are probably 4x or 5x, and the person charging them is no more than 50% billable at those rates.?ÿ
I'd be surprised to see a 4x or 5x multiplier...especially because by that calculation top PLSs in the DC metro area would only be making about 50/hr or 100k per year. I would venture they're making more like 75 or 80/hr => 150-160k per year, and a roughly 3x multiplier is valid.
I see a lot of indirect cost rate audits, and I really don't see much above the 3x range.
DC pay would be nice. But DC cost of living is probably 3x here.?ÿ
And I'm not complaining about my salary or firm - just the stress of making it all happen. It wears you down..
...and I'm sorry about turning this conversation that direction.?ÿ Billing rates and pay had nothing to do with your OP.?ÿ
I do agree with what James had to say though, in ~150 employee?ÿcorporatelandia it's super difficult to blend office & field responsibilities.?ÿ Corporate?ÿasks why an upper level guy is spending time billing at a lower rate and you answer, because?ÿI'm good at it and enjoy it.?ÿ?ÿOften times corporate could give a rip about what you enjoy vs. your rev. gen.?ÿ A smaller firm or starting your own firm would probably allow you the flexibility to do what you enjoy but also comes with?ÿpotentially lower pay.?ÿ Starting your own firm also comes with all the stuff you don't enjoy; managing proposals, clients, billing, payables, receivables, HR (if it's more than just you), strategic planning, succession planning, downturn planning, bla bla bla.?ÿ?ÿI've lived on both sides of the fence and it's not all kittens and potato chips on either side.?ÿ?ÿ?ÿ?ÿ?ÿ?ÿ
it's not all kittens and potato chips on either side.
This...there is enough business variability that you can pretty much tailor your work life to match your personal goals in most places. I know a PE who walked away from a VP position at ?ÿa large firm and now just has two guys in his shop because, as he said "I enjoy design, not managing designers." ?ÿ Granted he did it after his kid graduated college so he wasn't paying tuition when he took a pay cut. ?ÿI've gone the other way because, God help me, I've come to like ?ÿmanagement. ?ÿ
There are a number of small firms that run your "future" business plan here; a lot combine storm water management retrofit in their business plan because our current regulation stress filtration and recharge through bio retention area and there are a ton of old 70s-90s extended detention ponds ageing around here. ?ÿA small firm doing stream/wetlands restoration and SWM retrofit, with a surveyor, PE, and wetland scientist, built on a law firm partnership rather than traditional corporate business model, running jobs from planning through construction management could be very profitable.
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"A small firm doing stream/wetlands restoration and SWM retrofit, with a surveyor, PE, and wetland scientist, built on a law firm partnership rather than traditional corporate business model, running jobs from planning through construction management could be very profitable".
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I like the sound of that...And I think a model like that could work nearly anywhere in mid-sized communities across the Country. Here is StL STM is a huge infrastructure issue.
