Associate in house position in healthcare industry - offering me roughly 22k less than what I make at my firm job but saying I can have equity and potential for bonus. Has anyone ever made a similar career move with similar change in pay structure? I don’t know much about having equity or what in house bonuses look like

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Posting as :
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As another healthcare associate, following.

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Check the in-house bowl there’s a lot on this there.

TLDR: base pay cut to go in-house is common, equity and bonus vary by company and position but get it up front in writing in your offer letter. Bonuses usually only happen when the company does well and will go up if your performance is above average.

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Not in a law position but my dad did this (marketing and sales consulting) and was given stock (Eli Lilly) and it was worth way more on the end. There were other perks of the job that weren’t available at his previous job bc of the size of the company - he ended up on top and had a raise over the wage gap by the end of the next year.

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Following.

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Only $22k reduction to base sounds pretty solid to me for a good in-house gig, but depends where you’re coming from and what the work/life balance etc will be at your firm vs your in-house - I’m assuming here in-house will be better work/life balance for you and perhaps more interesting work to you.

As some of the others mentioned, equity and bonus in-house can vary a ton. I’d ask for as much detail as you can. But probably just think of that as a “if it comes in, great” rather than counting on it as income since often there’s lots of strings like equity vests only after 3 years or you have equity but it’s not freely tradeable etc etc.

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There's another thread somewhere in here on equity and bonuses. Short answer: it really varies from place to place, and equity can be either solid comp (straight share grants in a public co; dependable and you know their value) or a total gamble (options in a private co; could be worth nothing, could make you wildly wealthy). I've been in house in healthcare my whole career, and have had a variety of equity packages, but never a bonus. Some folks have nice bonuses, but little in the way of equity.

What market? Curious because I’m interviewing for a similar role.

I’m also a healthcare associate. A few years ago a fellow healthcare associate of mine went in house, took less pay, and now works more than he did at the firm. This guy billed around 2200. I would be cautious.

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