Anyone willing to share insight on shareholder comp at Greenberg Traurig? I know associates love to hate GT because comp is black box and usually below market, but does it get better as you move up? Any sense of comp with originations of $1M? $3M? $5M? (Currently counsel and considering applying for a lateral position, so I’m curious about potential long term upside.) TIA!
Associate at GT, so no personal experience but from my understanding it is very eat what you kill. If you bring business they are good to you
No we love to hate GT because we had things thrown at us, were stalked by our employer, called "diversity hires" or were told that dressing nicely as a woman would mean you finished last in life. The fact that we were also grossly underpaid in some offices was just the reminder that we weren't valued.
Also, from the many partner's I've talked to who have left, you won't be respected or treated well unless you are in the in-group. That firm and everyone there exist to serve one nepotistic group. It's not so much "eat what you kill" as it is, "kill others and eat them."
During my time there, I talked to many other associates in different offices and practice groups and past partners once I left. The firm not enforcing its policies is a pretty systematic problem; so much so, that management did an apology tour about a year ago from the sounds of it to recruiters. I learned about it from a recruiter that called me about an opening there, but I knew associates who were still there and still having issues similar to the above.
Great if you had a better experience but the abuse at that firm is serious. It's not just partners being meanies and people working long hours.
It’s all collections based and there’s ample room for negotiating during the lateral phase. Most lateral shareholders get a relatively modest guaranteed amount and then are made up based on how their collections/originations do
Base is less than some associates then it’s a percentage of what you collect. Those numbers get divided if you have other attorneys taking an active role on the files (in other words the dollars are split).
Enthusiast
Do you have any sense of what the percentage of your collections is? I’ve heard 20% to 1/3 at my current firm depending on level, so I’m curious how that compares.
With a book that big, comp will be solid