Cadetshipp

[seremify007]

my brother got a cadetship with a mid tier firm in the city and is doing a business degree at UTS... he lovesss his cadetship heaps, he gets hands on experience and his work is heaps great he goes to uni 2 days a week and works 3 days a week, he actually enjoys working more than uni lol :P

I did as well. Something about doing something in practice makes it a lot more enjoyable than learning about it.

There's plenty of tips/advice/questions on cadetships and their general experiences in the existing thread > http://community.boredofstudies.org/...d.php?t=258521

[Dystocia]

I still don't understand the difference.

[seremify007]

Between?

[Shadowdude]

friend of mine got a cadetship, or something like that i believe

she gets up to 85/hr right now

SO SO JELLY

[Azure]

$85/hour is like ~170k/year (guesstimate without doing the calculation). Are you sure you've got the correct figure? lol

[Shadowdude]

$85/hour is like ~170k/year (guesstimate without doing the calculation). Are you sure you've got the correct figure? lol

Well, from what she gave me, it's $85/hour only when she's doing tax returns or something. When she's at the office or whatever it is, I assume it's much lower. That's why I said "up to" 85.

[Azure]

Maybe that's her charge out rate (i.e what the clients are paying the firm for her work).

[Shadowdude]

Maybe that's her charge out rate (i.e what the clients are paying the firm for her work).

Yes, that is her charge out rate. Just re-read the text: "85 is my charge out rate"

still. i'm totes jelly. TJ, AZURE. (frigging) TJ.

[twistedrebel]

lol you dont get 85/hr thats what the firm gets. You get more like 15/hr. Seriously if you look at pay only, cadetship pay is not that great (30-33k a year for fulltime work). but the experience and long term $$$

[seremify007]

friend of mine got a cadetship, or something like that i believe

she gets up to 85/hr right now

SO SO JELLY

I'm wiling to bet that's charge-out rate which is what is used to calculate how much to budget/bill clients as opposed to how much she gets paid. Even if it's $85/hour, recovery may differ (e.g. firm promises to do a job which takes 2 hours for $170; but it takes her 2 and a half hours instead. Firm still only gets $170 so that means recovery has fallen and the 'true' hourly income would be lower).

I'll put things in perspective, my charge out rate is much more than $500 an hour and I don't even get 10% of that in my take home pay- and I'm CA qualified.

[Shadowdude]

I'm wiling to bet that's charge-out rate which is what is used to calculate how much to budget/bill clients as opposed to how much she gets paid. Even if it's $85/hour, recovery may differ (e.g. firm promises to do a job which takes 2 hours for $170; but it takes her 2 and a half hours instead. Firm still only gets $170 so that means recovery has fallen and the 'true' hourly income would be lower).

I'll put things in perspective, my charge out rate is much more than $500 an hour and I don't even get 10% of that in my take home pay- and I'm CA qualified.

wait what, so you dont get your entire charge out rate? that's a bit... misleading then.

ah well, my bad.

[seremify007]

wait what, so you dont get your entire charge out rate? that's a bit... misleading then.

ah well, my bad.

It's good for boosting the ego though. When I was a trainee I was nearly $300 an hour and that was pretty wow, but once you become experienced and do the budgeting/WIP analysis you realise that charge out rate is a rather arbitrary thing and not really reflective of how much you get paid (at all).