Legod Third Coming Posted 9 April, 2009 Share Posted 9 April, 2009 Several people have asked how much an adminstrator charges. Below are the fee rates of a well known Administrator from August 2007 - I would expect you could add 5% to these: HOURLY RATES Partner - £450 Director - £370 Senior Manager - £340 Manager - £290 Assistant Manager - £240 Senior 2 - £215 Senior 1 - £210 Administrator 2 - £165 Administrator 1 - £120 Secretary - £110 Filing Clerk - £110 On these rates, these are the annual salaries: Partner - £1,314,000 Filing Clerk - £321,200 Excuse me but I'm off to do some 'filing'.... Link to comment Share on other sites More sharing options...
ottery st mary Posted 9 April, 2009 Share Posted 9 April, 2009 Several people have asked how much an adminstrator charges. Below are the fee rates of a well known Administrator from August 2007 - I would expect you could add 5% to these: HOURLY RATES Partner - £450 Director - £370 Senior Manager - £340 Manager - £290 Assistant Manager - £240 Senior 2 - £215 Senior 1 - £210 Administrator 2 - £165 Administrator 1 - £120 Secretary - £110 Filing Clerk - £110 On these rates, these are the annual salaries: Partner - £1,314,000 Filing Clerk - £321,200 Excuse me but I'm off to do some 'filing'.... I will become a partner please..I am available:D Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 I will become a partner please..I am available:D I am a partner, I just happen to like filing (it screws my clients paying £450 an hour for a £110 per hour job)... Link to comment Share on other sites More sharing options...
Scudamore Posted 9 April, 2009 Share Posted 9 April, 2009 Bet he uses this... http://www.workpoop.com Link to comment Share on other sites More sharing options...
ottery st mary Posted 9 April, 2009 Share Posted 9 April, 2009 I am a partner, I just happen to like filing (it screws my clients paying £450 an hour for a £110 per hour job)... As a partner..I am definitely not getting involved in that thing they call sex..overated and in anycase, I HAVE A HEADACHE....Now concentrate on your filing. Link to comment Share on other sites More sharing options...
Clapham Saint Posted 9 April, 2009 Share Posted 9 April, 2009 Several people have asked how much an adminstrator charges. Below are the fee rates of a well known Administrator from August 2007 - I would expect you could add 5% to these: HOURLY RATES Partner - £450 Director - £370 Senior Manager - £340 Manager - £290 Assistant Manager - £240 Senior 2 - £215 Senior 1 - £210 Administrator 2 - £165 Administrator 1 - £120 Secretary - £110 Filing Clerk - £110 On these rates, these are the annual salaries: Partner - £1,314,000 Filing Clerk - £321,200 Excuse me but I'm off to do some 'filing'.... Looks about right to me. Don't forget though that your "salaries" are based on all staff being charegable to clients 100% of the time. In reality this won't be the case. Especially in the case of a filing clerk. You also haven't taken account of rent, insurance, IT, and other overheads. There are also a lot of staff (HR) who need to be paid but are never charged to clients. The fees above have to cover those cost as well. Link to comment Share on other sites More sharing options...
um pahars Posted 9 April, 2009 Share Posted 9 April, 2009 Read the second paragraph and sht yourself when it comes to administrator's fees!!!!!!!! http://www.bournemouth.vitalfootball.co.uk/article.asp?a=111029 "Firstly for any prospective purchaser there are the fees for the administrator, at present in excess of £500k, though certain monies will have been used from the sale of Sam Vokes to reduce that, but clearly a substantial amount remains" Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 Looks about right to me. Don't forget though that your "salaries" are based on all staff being charegable to clients 100% of the time. In reality this won't be the case. Especially in the case of a filing clerk. You also haven't taken account of rent, insurance, IT, and other overheads. There are also a lot of staff (HR) who need to be paid but are never charged to clients. The fees above have to cover those cost as well. Aye, I know that really, was just being a little cheeky Link to comment Share on other sites More sharing options...
ozzmeister Posted 9 April, 2009 Share Posted 9 April, 2009 Based on when I worked at a company of Administrators these look right. Note though that these arnt there hourly rate per se just what they charge. As an example I was an Administrator 1 (now known as an analysts) on around 25k per year. Note as well that their fees (and expences) must be paid first before any creditor (primary or secondary) get any money. Link to comment Share on other sites More sharing options...
benjii Posted 9 April, 2009 Share Posted 9 April, 2009 Several people have asked how much an adminstrator charges. Below are the fee rates of a well known Administrator from August 2007 - I would expect you could add 5% to these: HOURLY RATES Partner - £450 Director - £370 Senior Manager - £340 Manager - £290 Assistant Manager - £240 Senior 2 - £215 Senior 1 - £210 Administrator 2 - £165 Administrator 1 - £120 Secretary - £110 Filing Clerk - £110 On these rates, these are the annual salaries: Partner - £1,314,000 Filing Clerk - £321,200 Excuse me but I'm off to do some 'filing'.... Those are the rates charged by the firm, not recouped by the individuals who work for it. Link to comment Share on other sites More sharing options...
Chez Posted 9 April, 2009 Share Posted 9 April, 2009 as I keep saying they are paid by the hour and they certainly won't be rushing to complete the process. Our of interest I wonder how much the PLC spent on advice about insolvency from the company's lawyer as Lowe stressed that they had regular contact to ensure the board were not breaking the law. Fans often ask where does all the money go, well wages on managers, players, accountants and lawyers seems to be the answer. Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 Those are the rates charged by the firm, not recouped by the individuals who work for it. Yes, I think we've already established that and we already knew it. Teaches me for being funny... Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 as I keep saying they are paid by the hour and they certainly won't be rushing to complete the process. Our of interest I wonder how much the PLC spent on advice about insolvency from the company's lawyer as Lowe stressed that they had regular contact to ensure the board were not breaking the law. Fans often ask where does all the money go, well wages on managers, players, accountants and lawyers seems to be the answer. Don't get me started on legal fees. Taylor Wimpey have spent £60m on lawyers and bankers just to renegotiate their overdraft!!! (in simple terms...) Link to comment Share on other sites More sharing options...
ottery st mary Posted 9 April, 2009 Share Posted 9 April, 2009 as I keep saying they are paid by the hour and they certainly won't be rushing to complete the process. Our of interest I wonder how much the PLC spent on advice about insolvency from the company's lawyer as Lowe stressed that they had regular contact to ensure the board were not breaking the law. Fans often ask where does all the money go, well wages on managers, players, accountants and lawyers seems to be the answer. BLOODY LAWYERS:mad: Link to comment Share on other sites More sharing options...
dubai_phil Posted 9 April, 2009 Share Posted 9 April, 2009 And to think I got sniped at when I pointed out that the Administrators primary role is to earn fees :-) Let me restate that - the Administrators primary role is to say YES ANOTHER SUCKER BITES THE DUST In a nice and professional and legal manner of course 500k is what we could expect for Lallana in a fire sale - hmm we'll enjoy seeing him succeed (IF) in the future then Link to comment Share on other sites More sharing options...
Chez Posted 9 April, 2009 Share Posted 9 April, 2009 500k is what we could expect for Lallana in a fire sale - hmm we'll enjoy seeing him succeed (IF) in the future then lets hope its Dyer's transfer fee that pays for the administrator Link to comment Share on other sites More sharing options...
Torres Posted 9 April, 2009 Share Posted 9 April, 2009 Christ, I wish my missus got paid her chargeout rate. Edit - as soon as I hit "Submit" I knew that I'd have to edit to make it perfectly clear that she is not, I repeat NOT, a hooker. Link to comment Share on other sites More sharing options...
Guided Missile Posted 9 April, 2009 Share Posted 9 April, 2009 lets hope its Dyer's transfer fee that pays for the administrator Apparently Madonna has already bought him.... Link to comment Share on other sites More sharing options...
Horley CTFC Saint Posted 9 April, 2009 Share Posted 9 April, 2009 Several people have asked how much an adminstrator charges. Below are the fee rates of a well known Administrator from August 2007 - I would expect you could add 5% to these: HOURLY RATES Partner - £450 Director - £370 Senior Manager - £340 Manager - £290 Assistant Manager - £240 Senior 2 - £215 Senior 1 - £210 Administrator 2 - £165 Administrator 1 - £120 Secretary - £110 Filing Clerk - £110 On these rates, these are the annual salaries: Partner - £1,314,000 Filing Clerk - £321,200 Excuse me but I'm off to do some 'filing'.... Not sure that this will be the case here but when they took my local club Crawley Town through its CVA I understood that they agreed a flat fee for the administration work but with some agreed "add ons". Not sure that they ever collected on the add ons though - these they may have written off! Link to comment Share on other sites More sharing options...
Torres Posted 9 April, 2009 Share Posted 9 April, 2009 Several people have asked how much an adminstrator charges. Below are the fee rates of a well known Administrator from August 2007 - I would expect you could add 5% to these: HOURLY RATES Partner - £450 Director - £370 Senior Manager - £340 Manager - £290 Assistant Manager - £240 Senior 2 - £215 Senior 1 - £210 Administrator 2 - £165 Administrator 1 - £120 Secretary - £110 Filing Clerk - £110 On these rates, these are the annual salaries: Partner - £1,314,000 Filing Clerk - £321,200 Excuse me but I'm off to do some 'filing'.... 60 hour weeks, 48 weeks a year? Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 Christ, I wish my missus got paid her chargeout rate. Edit - as soon as I hit "Submit" I knew that I'd have to edit to make it perfectly clear that she is not, I repeat NOT, a hooker. So she says... Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 60 hour weeks, 48 weeks a year? I did 8 hrs a day, 365 days a year... that's how I calculate salaries. Link to comment Share on other sites More sharing options...
Torres Posted 9 April, 2009 Share Posted 9 April, 2009 I did 8 hrs a day, 365 days a year... that's how I calculate salaries. Ah, I see. As an IT contractor, I always work on 48 week years. Not sure how much work a filing clerk would do on a Sunday afternoon, tbf. Link to comment Share on other sites More sharing options...
Torres Posted 9 April, 2009 Share Posted 9 April, 2009 So she says... I have always wondered why she works from home, has "client meetings" at home and why these "clients" always visit one at a time :mad: Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 Ah, I see. As an IT contractor, I always work on 48 week years. Not sure how much work a filing clerk would do on a Sunday afternoon, tbf. About the same as on a Tuesday afternoon is my guess... (I mean, a Partner could not be asked to open a drawer and simply charge for someone who didn't exist... ) Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 I have always wondered why she works from home, has "client meetings" at home and why these "clients" always visit one at a time :mad: If they visited two at a time, she could earn double for the same effort. You should point this out. Link to comment Share on other sites More sharing options...
OldNick Posted 9 April, 2009 Share Posted 9 April, 2009 May I also point out that Bournemouth would be a much less value transaction, our will be considerably more. The costs of Morgan and whether Pulis etc were a waste will be miniscule to this. A business I know went into administration and anything sold they took a slice. Example their stock was put into an auction which the auctioneer was to charge his full fees on the hammer price the adminstrator took a 15% commission on the hammer price as well.Add to that the goods were to be sold at a fraction of cost and you might see the business came out of administration basically ruined by administration.I dont blame the administrator, they charge their fees and is all above board but it is a licence to print money. For all those who wished for administration may regret it in the long run, but if Alpine is right about the Indian Billionaire my fears may be totally unfounded.Only the next 3 weeks will tell us. Link to comment Share on other sites More sharing options...
Stoozer Posted 9 April, 2009 Share Posted 9 April, 2009 Several people have asked how much an adminstrator charges. Below are the fee rates of a well known Administrator from August 2007 - I would expect you could add 5% to these: HOURLY RATES Partner - £450 Director - £370 Senior Manager - £340 Manager - £290 Assistant Manager - £240 Senior 2 - £215 Senior 1 - £210 Administrator 2 - £165 Administrator 1 - £120 Secretary - £110 Filing Clerk - £110 On these rates, these are the annual salaries: Partner - £1,314,000 Filing Clerk - £321,200 Excuse me but I'm off to do some 'filing'.... Just because someone charges X-amount per hour doesn't mean they make that in salary. My wife is a para legal. Her charge rate is £100 per hour - she isn't paid £100 per hour. Your rates = salary don't add up. Link to comment Share on other sites More sharing options...
Blandford saint Posted 9 April, 2009 Share Posted 9 April, 2009 Sharks in suits. Anything involving the legal professional is best avoided, if at all possible. We've just been shafted for an absolute packet trying to get rid of an incompetent agent that used to work for us. The longer it drags on, the higher the costs - who's benefiting? Only the lawyers. Link to comment Share on other sites More sharing options...
Junior Mullet Posted 9 April, 2009 Share Posted 9 April, 2009 Sharks in suits. Anything involving the legal professional is best avoided, if at all possible. We've just been shafted for an absolute packet trying to get rid of an incompetent agent that used to work for us. The longer it drags on, the higher the costs - who's benefiting? Only the lawyers. Were you not aware of the Sales Agent Regulations then and their right to an indemnity/commission on termination? Tut tut for not taking legal advice in the first place. Prevention is so much better and cheaper than finding a cure. I hate to say it but for a grand or two you could have avoided this. Link to comment Share on other sites More sharing options...
Torres Posted 9 April, 2009 Share Posted 9 April, 2009 Just because someone charges X-amount per hour doesn't mean they make that in salary. My wife is a para legal. Her charge rate is £100 per hour - she isn't paid £100 per hour. Your rates = salary don't add up. I think we've already established that! BTW - are you sure your wife is a para legal? I've already had a nasty realisation in this thread Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 Just because someone charges X-amount per hour doesn't mean they make that in salary. My wife is a para legal. Her charge rate is £100 per hour - she isn't paid £100 per hour. Your rates = salary don't add up. Thank you. Can I draw your attention to my other dozen posts pointing this out. And also to the little round winky face that indicates I did not come up the Clyde on a bike?? Link to comment Share on other sites More sharing options...
Torres Posted 9 April, 2009 Share Posted 9 April, 2009 If they visited two at a time, she could earn double for the same effort. You should point this out. A process improvement that any management consultant would be proud of. Link to comment Share on other sites More sharing options...
Blandford saint Posted 9 April, 2009 Share Posted 9 April, 2009 Yes, Junior Mullet, we did, and offered him over a year's commission, which every other retiring agent was perfectly happy with. We even went up to 15 months but he decided to employ an expensive London lawyer to try and get more. In the end he settled for virtually the same amount but we ended up with his and our legal costs. It gets to a point where it is not worth the risk, even though you know you are in the right. Agents don't retire, they just stop working. Link to comment Share on other sites More sharing options...
Clapham Saint Posted 9 April, 2009 Share Posted 9 April, 2009 Not sure that this will be the case here but when they took my local club Crawley Town through its CVA I understood that they agreed a flat fee for the administration work but with some agreed "add ons". Not sure that they ever collected on the add ons though - these they may have written off! Flat fees are a lot more common with CVAs as the work required (and time) is a lot easier to predict. In and administration it will be time costs. Link to comment Share on other sites More sharing options...
Clapham Saint Posted 9 April, 2009 Share Posted 9 April, 2009 Can I point out that everybody has overlooked the fact that Chrage out rates are not the same as salaries. Can't beleive you all missed that. Must I point out everything? Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 A process improvement that any management consultant would be proud of. Indeed, Andersen's would charge you three times the saving to point it out... Link to comment Share on other sites More sharing options...
INFLUENCED.COM Posted 9 April, 2009 Share Posted 9 April, 2009 I understood that they agreed a flat fee for the administration work but with some agreed "add ons" Their add ons will be paid when they deliver the club back to Lowe, he appointed them, he will no doubt have had previous dealings with them(highlighted in another thread re WH Ireland) and probably remains in communication with someone further up the tree than Fry receiving the heads up on whose who and how much. Link to comment Share on other sites More sharing options...
OldNick Posted 9 April, 2009 Share Posted 9 April, 2009 Their add ons will be paid when they deliver the club back to Lowe, he appointed them, he will no doubt have had previous dealings with them(highlighted in another thread re WH Ireland) and probably remains in communication with someone further up the tree than Fry receiving the heads up on whose who and how much.I think you are in dangerous territory questioning the integrity of the Administrator.They earn too much to worry about appeasing RL Link to comment Share on other sites More sharing options...
INFLUENCED.COM Posted 9 April, 2009 Share Posted 9 April, 2009 I think you are in dangerous territory questioning the integrity of the Administrator.They earn too much to worry about appeasing RL Have reason to question the integrity of administrators, ClaphamSaint would agree with that, wouldn't he ? Link to comment Share on other sites More sharing options...
mattyd Posted 9 April, 2009 Share Posted 9 April, 2009 A partner at begbis Traynor charges near to £500 per hour. Most of the work is at manager level Link to comment Share on other sites More sharing options...
Deano6 Posted 9 April, 2009 Share Posted 9 April, 2009 I would be a Senior Manager at BT with my chargeout rate. I can assure you those salaries are way off the mark. For one thing no-one is anything like 100% chargeable over a year plus chargeout rates are intentionally over-inflated so the company can appear to give everyone discounts. It's standard market practise. Thirdly, even after all that, the firm won't pay you anything near what you're charged out at. They need to cover their own costs you know! Fourthly, partners don't earn salaries. Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 I would be a Senior Manager at BT with my chargeout rate. I can assure you those salaries are way off the mark. For one thing no-one is anything like 100% chargeable over a year plus chargeout rates are intentionally over-inflated so the company can appear to give everyone discounts. It's standard market practise. Thirdly, even after all that, the firm won't pay you anything near what you're charged out at. They need to cover their own costs you know! Fourthly, partners don't earn salaries. I give up... But if you find an administrator who discounts sack them. Discounting is the quickest way to Carey Street... Oh and partners don't need to earn salaries when they draw multi-million pound dividends Link to comment Share on other sites More sharing options...
Poop&Scoop Posted 9 April, 2009 Share Posted 9 April, 2009 One of my best mates is an administrator, and I can confirm they normally make sure the bank gets their money, take as much as they can in fees and then sod the rest. I'm guessing much of the money fans are giving to the club is effectively going straight into the pockets of BT. Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 (edited) One of my best mates is an administrator, and I can confirm they normally make sure the bank gets their money, take as much as they can in fees and then sod the rest. I'm guessing much of the money fans are giving to the club is effectively going straight into the pockets of BT. Well, whatever their ills, we have them - and through no fault of our own. We are in a desperate way and despite whatever BT may be taking out, if we want a football club to support, we just have to lump it, do what we can and hope beyond hope we still have something left to support... Edited 9 April, 2009 by Legod Third Coming Link to comment Share on other sites More sharing options...
Morph Posted 9 April, 2009 Share Posted 9 April, 2009 BLOODY LAWYERS:mad: Let's not forget that the leader of one of the consortiums poised to take over SFC is Anthony Salz, who was previously the head of one of the worlds leading legal practices, Freshfields Bruckhaus Deringer, the the fourth largest law firm in the world. So what goes around may very well come around. Regards Morph Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 9 April, 2009 Author Share Posted 9 April, 2009 Let's not forget that the leader of one of the consortiums poised to take over SFC is Anthony Salz, who was previously the head of one of the worlds leading legal practices, Freshfields Bruckhaus Deringer, the the fourth largest law firm in the world. So what goes around may very well come around. Regards Morph I see he holds 980 (now worthless) shares in SLH... Link to comment Share on other sites More sharing options...
ottery st mary Posted 10 April, 2009 Share Posted 10 April, 2009 Let's not forget that the leader of one of the consortiums poised to take over SFC is Anthony Salz, who was previously the head of one of the worlds leading legal practices, Freshfields Bruckhaus Deringer, the the fourth largest law firm in the world. So what goes around may very well come around. Regards Morph Just love Lawyers especially Anthony Salz.....Top man and should have been in the chair sometime back. :)He comes highly rated by my very good friend and of course ottery who knows everything.:cool: Some Lawyers are BLOODY great;) Link to comment Share on other sites More sharing options...
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