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Do you have access to the data about what the margin was on that work?
I billed it at my standard rate and 100% of it got paid. Might have been a little higher in some cases due to rounding up for a round number.
Do 15% and let them come back at 10%
10 is standard 15 generous and 20 outrageous
My last firm I got 10% (they have since moved to 20%), my current firm is 15%. I think I'll end up with 300K in originations this year give or take.
Nice! Any advice on building a book? I'm not required to, but I like the independence and exit options it gives me.
Small firm (4 attorneys) in MA - I get 33% of whatever is billed from cases I originate.
How much was your gross revenue? Your margin for the work you generated? Your margin for the work you did for partners?
We’ve got a guy who “generated 500k” BUT the book is in the hole 70k because he can’t manage it properly. He’s not getting originations bonus for a client that’s losing partners money while taking away his time from clients that do make the firm money. It’s about profitability, not collections end of day although those are important
Not the situation here. Everything I originated I worked, most of which is at a higher billing rate than the work I do for the "main" firm clients. Just asking what a reasonable bonus for that additional work brought in would be, if any.
Small firm in NY offered me as a 2nd year associate a fee sharing arrangement of 25% of fees I originated and 33% if I originated and billed the fees. (Base salary 74k).
Thanks! That sounds pretty generous. Maybe I should start there. :)
I don’t think big law firms offer any sort of origination.