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That’s 5% off of fees generated. That’s not high but that’s also not unreasonable low. What’s too low is your base for a sixth year.
Do you know the market rate for comp structures in your area? Around me in NC, small firms routinely pay associates 30-35% of everything they bill and receive, regardless of who originated the case. If you brought in $404k I feel like your comp is low.
According to Glass Door, “litigation associates” average $72k in my area, but there’s only 9 salaries reported, the majority of those reporting have 2-4 years experience, and I’m sure some portion of those are ID associates (those poor souls!).
Total comp should be roughly 1/3 of collections. Your base should be $100K at least as a 6th year, but PI firms are weird since it's all contingency.
I’m in southern Ohio, 4th year, making $95k plus approximately $15k in bonuses. Your comp seems very low. I’m in ID, by the way.
I will note, however, I don’t get a company car and my insurance is not great.