Boss asking for feedback RE billables and attorney compensation (please see first post)

like
Posting as :
works at
You are currently posting as works at

My boss has been on the journey of growing his practice from sole practitioner to a law firm. He has now hired a few lawyers (including me) and realizes he needs to review and establish a more thoughtful compensation structure, including what his expectations from us will be as the other side of that coin. Because he's a wonderful guy, he has invited us to give him feedback regarding what we think is fair on both fronts. This is slightly more complicated because most of the firms I've reviewed provide annual "billable" hour requirements, and my boss (understandably) is only concerned about a minimum "collectible" hour requirement.

I'm a fan of data-based opinions, so I am turning to Reddit to try and find out what is customary in this day and age. Ideally, I'd particularly like to hear from people in firms like ours; a small firm in a HCOL area that focuses on estate planning and estate administration, including taxable/complex estates, but we do not do litigation. (In addition to our boss, we have a few of attorneys ranging from freshly barred to almost 8yrs experience. Many have a tax LL.M.) If you are willing, please share with me the following:

-What type of law do you practice?

-Is your firm big, medium, or small? HCOL or LCOL area?

-What does your firm expect from you regarding minimum billable or collectible hours? If your firm has a billable minimum, how much of that are you expected to collect?

-How much your firm pay your attorneys, including salary, how bonuses are structured, and/or other financial compensation? What is the experience level for this level of pay?

-What other non-wage compensation does your firm provide? (CLEs, 401(k), dental, PTO, paid holidays, etc.)

-Anything else we should consider?

Thank you!

like

Related Posts

My firm doesn’t match my 401k — still worth opting in?

like

Anyone here know/work at Facebook? Recently applied to a program there and would love to connect and chat further

like

Happy diwali 😂

Post Photo
funnylike

Hey Guys,
I applied for UBS for Selenium Java QA profile and they have sent a hackerearth test. Can somebody share what the test-level is like ?
The test has 2 questions and 135 mins duration, will it be Java focused or can it have Selenium as well ?

#UBS #Selenium

Hi Folks,

Please suggest which company is better to join for 3 years exp tester who is willing to switch to developer profile-
Cavisson Systems or Bravura solutions

like

Hi Fishes,

I have completed my BCA in 2018 and currently working as Technician in Paytm I have completed Aws Devops Training and have knowledge and hands on experience in Got, Jenkins, Ansible, Docker, EC2, S3, IAM, VPC, Lambda.

please refer me and help me in getting job

like

I applied for a position in KpMg uk and got call from KpMg Bangalore. Has someone routed my profile to India?

likefunny

Is there any joining bonus to 601 grade joiners in JPMC?

like

I am a Business Analyst. I have 10 years of working experience in India. In May 2022 I will complete MSc Business Analytics from Maynooth university.
In the past I have lead a team of analyst performing multiple activities like sales analytics, web analytics on Google analytics, I have also worked as a scrum master in certain projects
I have worked with tools like tableau, power BI and now alteryx any suggestions for the job role I should look forward to?

like
like

What salary to expect at a Director level at PwC in Saudi Arabia? I am a brit with over 15 years experience in transformation consulting, and never worked in the ME!

like
like

Where is the lie

Post Photo
likefunny
likefunny

Not completely political but should baseball players be able to test daily while teachers and healthcare professional cannot

Article to support your option appreciated

like

How did you decide your speciality in Cybersecurity? Did you naturally gravitate towards one area?

like

Anyone here work in UX design? I'm thinking of switching careers and wondering what your experience in UX design is? What courses are the best to take, etc.

like

Calling all San Francisco Bay Area folks! We are looking for software engineers. Can be full stack, front end, back end. Need to have a minimum of 6 years experience. This is for Unify Consulting. We work with many Fortune 500 companies: Activision Blizzard, Meta, Google, Twitter, Salesforce & much more. Let’s connect!

like

What’s an appropriate comp package for an institutional investment management company in San Francisco? Interviewing for an associate director role and trying to understand salary.

like

Additional Posts in Estate Planning Attorneys

Best practices for funding a home into RLT if there is an existing mortgage? What type of deed? Title insurance considerations? Thanks

Fav trust drafting software and why?

What’s y’all’s favorite EP document generating software system? California systems a plus!

like

Where is everyone buying their EP portfolios for clients?

like

Does everyone do trust accounting in-house? Or is this something you can contract out?

helpful

For estate planning attorneys at big firms, how much do you generally bill per month? Do you usually get your bonus, or if not, are you very far off?

How much are you charging for trust administration? % or hourly?

like

For those offering the option of retaining client's original estate planning documents and storing them offsite, what are your policies? I'm shopping around for off-site options. Any tips on what to look for?

What are the in house exit opportunities?

like

Recommendations for facilitator training for lawyers? More and more of my T&E practice is shifting to requests to facilitate family meetings on business succession, something I enjoy but have no formal training in. Would like to explore some training to add tools to my toolbox.

Can others share where you were at by your 3rd/4th year in estate planning in terms of plans/complexity of cases you were overseeing? Is it normal to still have all your plans reviewed by a more senior attorney 3-4 years in?

4th year Trust & Estate attorney at boutique firm in LA serving ultra high net worth clients. Trying to determine whether my compensation is fair. Any others in similar positions willing to share their salary/bonus information? Thanks!

like

Any advice for a first year attorney in litigation considering switching to this area?

like

How much do you folks manage to bill per month? I'm looking at you transactional folks who don't litigate. 😉

I am wondering which drafting software everyone uses or likes. For years I have used WealthCounsel and more recently ElderCounsel, but I find them too expensive. I also do a good number of Special Needs Trusts as part of my practice. Any advice on a more reasonably priced drafting software?

like

Is anyone looking for a full-time remote paralegal? I have probate, estate administration, estate accounting and estate planning experience. Please see my resume and LinkedIn!

Post Photo
like

Hi,
I'm building a software product to help lawyers and customers simplify the estate planning process. I would love to talk with any estate planning lawyers (in CA or FL is a plus!). If you're interested, please shoot me a note here. Thanks!

like

How do you get a credit report for a deceased person, without being the executor?

Hello All,

I am interested in Estate Planning but have no experience. How do I break into this practice?
Located in NYC

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal