As predicted on this blog months ago, the new waves of recently-admitted lemmings will drive rates to shockingly low levels. We're reached the point where agencies are testing new floors for doc review rates daily, and don't doubt that they'll fill this job w/in hours. Don't be surprised if we see rates fall to the high teens or very low twenties by mid-spring. Remember, the NY Bar 1st Dept has a big admissions ceremony in January, and then in March all the out-of-staters head up to Albany for that swearing-in. The agencies are licking their chops at this new group of desperate, heavily indebted lemmings who will code like crazy and ask for more! We learned a couple days ago that a Hudson job that's happening in NYC right now is paying $27 flat and was filled w/in hours with admitted NY attorneys.
(Another rumor awaiting confirmation is that the infamous Deloitte/Barasso gig in Westfield NJ cut the rate for incoming coders from $29 to $25- can any T the T readers confirm this?)
We certainly hope that all experienced coders boycott this project. At that rate, you might as well drive a truck or wait tables and preserve at least a bit of your pride. Posts like the new Swine project really remove all doubt that we're in an ugly, bumpy race to the bottom out in doc-review land.
*UPDATE: We learned today at Tom the Temp that the $25 an hour Dine project is at Huron Consulting. Another agency, Synergy, is staffing Huron gigs at $33 an hour and have been for some time. Apparently, Dine is simply testing the bottom to see if they can steal a few more bucks from the coders and pad their already fat bottom lines. L4L