Peter Chun

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since Jul 13, 2005
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Recent posts by Peter Chun

Which are the other technology in this we must know to master in this field?




Master hard-core J2SE such as NIO, RMI, Swing, Socket, Multi-threaded programming. There's a good demand for core J2SE experts.
15 years ago


- Is your company a software provider for clients? In any particular sector?



My employer is a small-sized full-service management consulting firm, and most of our clients are financial/insurance corporations.



- What happens when the company's got no project for you to work on for lets say a month or two. Do you keep getting our pay stubs?



Because I'm salaried, I keep getting the same pay stub every month. But as Sania mentioned, in theory, if I happen to be on bench for more than 2 - 3 months, I might be laid off.



- Are you on W-2?



Yes, I'm on W-2.



- Whats your title?



Officially "Senior Associate Consultant", but functionally the same as regular Senior Java Developer.



They will make sure you work overtime only in extreme cases. Because calculate yourself - If I have 2 employees constantly working extra 20 hours a week and I have to pay them triple salary for that, I better hire someone part-time to work for $50/hour.
At least that is what I have seen out there.



This is why I joined this small-sized local consulting firm instead of Accenture or Deloitte. Our clients pay my employer whatever the hours that I worked times $150.00. Contrary to some greedy large-sized consulting firms, my employer just redirect 100% of any overtime payment to me.

In theory, as Sania mentioned, I don't know how this will work if someone is willing to work 80-90 hours per week (and I've never seen one doing this in my company).

Since I only work 40-55 hours per week, this has never been a problem.
16 years ago


But he is still saying that HIS rate is $150, adding to the confusion.




I was saying that I get paid at hourly rate of $150.00 for any overtime only.

This is just my employer's policy. I have a base salary and am required to work at least 40 hours per week.

And if I work more than 40 hours then I get paid at full hourly rate of $150.00.
16 years ago

Originally posted by J Singh:

your client pays $150 hour to your company, so thats your billing rate. But because you are on a fixed salary, do you get that $150/hour in your pocket?




Yes. My base salary is fixed regardless of the hourly rate. My current hourly rate is $150.00 but this can vary from project to project.

Sorry I can't give you the exact number on my base salary, but it's definitely six-figures.

Because I'm a full-time employee consultant, I get full benefits (health/dental insurance, paid vacations, paid sick days, annual bonus, 401K, tuition reimbursement, expense account, etc.)

In addition to the base salary, I get extra cash only when I work overtime (currently $150.00 per hour for any overtime worked).
16 years ago


How is a full time consultant different from a contractor anyway, when both get paid on hourly basis?




Hourly Contractor:

You get paid only when you're on-site working on a project.

Usually, you don't get any benefits so you have to pay for your own health/dental insurance and no such things as 401K, tuition reimbursement, etc.


Full-time Salaried Consultant:

Do not confuse this with body-shop. I am working as a salaried consultant for a full-service project-based management consulting firm.

My hourly rate is $150.00 and this is what the clients pay to my employer. I get all the benefits from the company, and I am salaried (i.e., I still get paid while I am on bench or on vacation).

My employer has a good policy on overtime. Beside the fixed salary, I get fully paid on hourly rate on overtime (anything over 40 hours per week). I usually work 10 extra hours per week - which is equivalent to $1500.00 extra per week).
16 years ago


what does the top rate in Java Consulting career look like in this market. $60, $70, ..., $150 /hour?




That all depends on many things:
- Are you an independent contractor?
- Or a full-time employee in a consulting firm?
- Tax term? W-2 or 1099?

For example, I am a full-time consultant in PA and my rate is $150.00 per hour. I usually work 50 hours per week.
16 years ago

Originally posted by soniya saxena:
it is necessary to check it twice.
which defeats the whole purpose of a Singleton class




Not true.

Double-checking simply won't work.

Singleton problem in multi-threaded environment has been discussed a lot in other places.

This is a well-know issue, and kind of hard to grasp without understanding of Assembly language (especially, out-of-order write).



http://www.ibm.com/developerworks/java/library/j-dcl.html


In short, the best answer is:


[ September 18, 2005: Message edited by: Peter Chun ]
16 years ago

In general, will it be very tough or normal..?




It will be tough for you because you have no clue about the interview.
16 years ago


Can someone please provide any clues.




I have no clue
16 years ago
Thanks everyone for the input.

I declined the offer, but they came up with second offer.

Now it's Base Salary of $70,000 and additional sign-on bonus of $5,000.

The original first offer actually included a relocation assistence of $5,000 (I'm moving from Pennsylvania).

So, my new package is: $80,000 in the first year ($70,000 base salary + $5,000 relocation fee + $5,000 sign-on bonus).

Could you guys give me some more input please?

This is the type of job I've been always interested in - Equities Trading system development. But I'm not totally sure because I've never lived in NYC area before.

Thank you.
16 years ago
I'm seeking some advice.

I have solid 4 years of Java/J2EE experience, and I have B.S. in CS from an Ivy League school.

I've just got an offer from a top five Wall St investment bank in NYC. It's Java/J2EE Developer position in Equities Trading group.

This is really the type of job I've been looking, but I was shocked by their offer - $65,000 base salary.

I work in PA now, so this salary is even less than what I'm currently making (in terms of "real" price).

I'm pretty sure I'm worth more than $65,000 because a few months ago I even declined an offer of $90,000 from a consulting firm (NOT a contract position).

I'm disappointed because I always thought Equities or Fixed Income Trading position in I-Bank is one of the highest paying IT jobs.

And I was told that the bonus will be 0% - 20% of my salary (and it's not guaranteed).

I would be appreciated if someone coule advise on:

1. Is $65,000 reasonable salary?
2. How much bonus do Wall St firms pay these days for IT guy?

Thanks
16 years ago