4 ms·
McKinsey does flat fees. The flat fees are driven by a rate card estimate, but there's no marginal cost to an extra hour... fwiw
by throwaways66722 7y ago
McKinsey does flat fees. The flat fees are driven by a rate card estimate, but there's no marginal cost to an extra hour... fwiw
- speby 7y agoThats because there is 0 additional marginal cost for their salaried consultants' time, too. Like many in the workforce, they are a paid a salary, and it's the same amount whether working 40 hours or 80 hours.
- excursionist 7y agoIsn't unpaid overtime illegal?
- jedberg 7y agoNot if you're an exempt employee!
- conro1108 7y agoNot if the position is overtime exempt.
- saberdancer 7y agoI'm not sure if this exists in EU. Does anybody know of a similar situation in EU?
- Ntrails 7y agoAbsolutely does. Everyone just signs to opt out of the 40 hour (something like that) working week directive and contracts are clear that there is no such thing as overtime.
- mjparrott 7y agoYour job isn’t to do X hours of work your job is to meet a goal, objective or target. You don’t get to stop when the clock hits a certain hour in this industry.
- deleted 7y ago[deleted]
- connicpu 7y agoIt's only illegal if your total salary would work out to less than minimum wage. Working 80 hour weeks year round at WA's 2020 minimum wage works out to $70k a year if you include time and a half after 40hrs/week.
- disillusioned 7y agoNot for white collar, FLSA-exempt employees! And boy is that a broad umbrella! See: https://www.dol.gov/whd/overtime/fs17a_overview.pdf https://www.dol.gov/whd/overtime/fs17a_overview.pdf
- throwaways66722 7y agoNo... that's not a good explanation. While it is true they're salaried, there are plenty of professions that bill by the hour for the time of salaried employees. How you bill doesn't need to match how you pay salaries. It could also be billed per day of work regardless of the number of hours and the issues mentioned above would still be pertinent.