Lateral Link’s Post

Very insightful and especially crucial for big law associates. Calculate your Return on Time Investment.

You may be misunderstanding a key element of your compensation. Your salary number isn’t the only number you need to consider. You also need to consider your pay in terms of the total time you invest in your work, i.e., the time you spend getting ready for work, eating, breaks, non-billable work, and commuting. I call this your work ROTI (return on time invested), and you need to factor this in to get a truly accurate picture of your compensation. If you’re making $250,000, have a billable hour requirement of 2100 hours, and have a ratio of 12 hours needed to bill 8 hours, your work ROTI in this scenario would be approximately $79.4/hour. A 3:2 ratio of hours worked/hours billed is pretty common. If you didn’t factor in your work ROTI, you would incorrectly think you're earning $119.10/hour. If you make $190,000, have a billing requirement of 1800, and an hours ratio of 3:2 (12 hours needed to bill 8), you would have a work ROTI of $70.4/hour. If you didn’t factor in your work ROTI, your compensation would be $105.56/hour. While there’s a $60,000 salary gap between these two examples, it’s actually a much smaller gap when you factor in the work ROTI—a difference of $9/hour. When you add your work ROTI to the equation, you realize that the non-billable hours needed to bill 8 hours drive your compensation per hour down. It’s not surprising that lawyers are mad about going back into the office because they know that extra time preparing, commuting, etc., is driving down their hourly compensation. What is surprising, however, is when lawyers take the higher salary number without regard to a realistic estimate of their work ROTI. They may get a higher base salary but without commensurate gains for their work ROTI-adjusted earnings. I frequently speak with associates who have a terrible ROTI. We talk about increasing their pay, decreasing their hours, or getting them more flexibility so they don’t have to dedicate so much time to non-billable work-related activities. If you want to maximize your work ROTI, email me (npappas@laterallink.com) or DM me to set up a time to strategize. #lawyers #careers #compensation

Do not disclose your salary to anyone!❌ Revealing salaries to coworkers are often considered as a tabboo and still discouraged at workplaces.💸🫰🏻 Have you ever wondered why this practice is taken up though? Because if you find out that your coworker is getting paid higher than you, You might question your presence in the company. Feeling undervalued and overworked is often a common thing that employees tend to experience once they dive deep into the indifferences. You might think that, why is this person being paid more than me by doing less work than me.🤑 The solve to this is 👉🏻 Know your worth 👉🏻 Communicate clearly 👉🏻 Define boundaries at work Don't shy away to pull back your chair, when the barter is unequal.⚖️ Don't let the blabbering buds have the lion's share.🗣️🦁 Salaries are not just to pay bills, it's more like a matter of dignity. #salary #corporateculture #workculture #officelife #corporatelife

You need to serve a 3-month notice period, but the company can terminate you without any prior notice. Your hike depends on your previous salary, no matter how talented you are. You have to provide a valid reason with proof to take your pending leaves and also complete your tasks. You can't be 10 minutes late as it's marked as a half-day, no matter how many extra hours you give to the company. You can't make both your boss and your colleagues happy simultaneously. If you get promoted through hard work, then according to your colleagues, you are definitely a bootlicker. No matter how loyal or hardworking you are, you can be replaced anytime for no reason. And if you are already aware of these points, then you are an everyday hustler. If you take leaves, then you need to provide support even on vacation. If you are not aware of these, then welcome to the corporate world, dear. Have you ever faced any of these situations?

Question: Do I work an extra day for free in a Leap Year? Short Answer: probably not. If you have an annual salary and get paid monthly (as many people do), then you usually just get 12 equal monthly payments no matter how many working days there are in each month. Weekends fall where they fall, so most months vary a little in working days but the pay remains the same. And this is why you don't get less pay in April (30 days long) compared to July (31 days long) for instance. If you are paid by the day, or by the week, then you will likely be paid for the exact days that you work. If you work an extra day in a Leap Year then you would expect to be paid for that "extra" day in the normal course of that week. So in a Leap Year, you wouldn't lose a day's pay. If in doubt, go and dig out your contract and see what it says about working days and pay. If still in doubt, get proper legal advice from someone like me. If you liked this short Q & A post, then I am thinking about doing a LinkedIn Live in a similar vein. Let me know your questions to cover! #employmentlaw #hr #pay #askalawyer

Salary Over Paid??? Is it true? No one agrees that they are paid more than they work. Every one says they are under paid. So let's see 1. 100% work but salary is just 50% of work. 2. 50% work but salary is 100% paid 3. 0% work but salary is 100% paid All will agree with 1st option . How many of us agree with 2nd and 3rd?? Companies are spending on all projects to reduce the cost and optimization. If they check on this aspect of paying salary. That is how best employee is worth the pay or salary he/she is taking. Lot of savings will happen. Keep ignoring and one fine year. You know what has to be done. That year will soon come . May be it's around

Jumping on the bandwagon with the leap year posts 😂 Fun fact 💡- I read that today is one of the most complained about days. Employees who are on a fixed salary, often complain that they essentially have to work an extra day for free 😬 OR if we flip that on its head, was it already incorporated into the annual salary and there were overpaid a whole 1/4 of a days extra salary for the last 3 years 🤷🏻♀️ Typical accountant- always trying to apply logic! now off to check my computer 😬😂 #leapyear #logicalreasoning

I personally don't like to give 💲 compensation 💲 ranges over a written or LinkedIn message because: 1. It immediately puts limits around what we have to offer, when we might not have said limits ❌ A quick conversation (where I'm always happy to share a range) can get us on the same page with compensation expectations. Maybe you deserve a salary outside the range because you have THAT good of experience. Maybe you're relocating from a more expensive market. Or you're actually looking for a little more work/life balance and willing to take a pay cut but want to know what that looks like. Either way, compensation is something that should be DISCUSSED. You're going to end up with an offer you are pleased with if this conversation is open from the start. #compensation #setexpectations

In as much as the first is important. the other four are absolutely critical.

10 things you can negotiate for other than base salary: ✅ Extra holidays ✅ Guaranteed severance package ✅ Sign on bonus ✅ Start date ✅ Flexible working ✅ Transportation reimbursement ✅ Professional development stipend ✅ Commission percentage ✅ Equity compensation ✅ Your job title Your objective is to negotiate the best overall compensation package possible. Remember that base salary is only a part of this.   _______________________________ 🚀 I’m Laura and I help young professionals fast track their career success and personal growth without sacrificing their happiness. Enjoyed this post? ➡️ Follow me for more ➡️ Ring the 🔔 to be notified when I post #salarynegotiation #careerchange #jobsearchadvice