Did I screw up? I just gave my notice to leave my comfortable midsize regional firm to join a V20 firm. I am a 6th year in a niche practice area and live in a HCOL city. The midsize firm came back with a very aggressive counter. Increase base from 180,000 to 260,000 with a guaranteed bonus of 50,000 and income partnership in 2 years.
The hours end up being the same at both firms because of the amount of work that comes through the door.

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If you stay, my guess is they will flat line your comp next few years. When you ask why, you’ll be told - hey we just gave you a 50% raise!!

It’s critical that you understand how they view your comp the next few years. Say what you want about the V20, but at least you know what you’ll be earning with near certainty.

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IMO, the difference in salary is real, especially in a HCOL market. But starting over is tough, and there’s no guarantee of partnership. I’d leave, but only you can decide what’s right for you.

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Do you want to be a law firm partner eventually? Likely better chances at regional. But if it’s just a salary comparison, v20 will likely be higher in the long run.

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Map out what income looks like at each firm over the next 3-5 years. At a V20 paying market, I still think you’ll be ahead of the current firm’s income partnership numbers in year 1

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I probably would not make the same money until I make equity at the midsize which is 4 years out at best.

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lol that’s not a counter; they are giving you $310,00 to stay, whereas at the v20 as a sixth year your comp would be $520,000. Especially given that hours are the same, why the hell is this even a question. Cash that check, man!

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I would still leave. They seem to like you and want you to stay and you can always come back if you don’t like the biglaw gig

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Agreed. I would also try the v20 gig and leave the door open to returning.

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I had a similar experience when I was very comfortable at a smaller firm but also had a great work life balance. I left it for biglaw and do not regret it one bit. Going from $175k to $390k was life changing and the work is more interesting and I get better experience/training.

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Thanks all for the answers. One partner said I was screwing myself because if it didn’t work out I would be too senior to come back as an associate to mid market and wouldn’t have any clients. Probably just being a jerk but still had me panicking

I was mid law lateraled to BL and now as a senior routinely get offers for counsel or partner from mid law. As a specialist you normally lateral down to get the title since you don’t have a book. IME.

I personally would give the V20 a go. It looks great on resume and will open a lot of doors vs some vague promise to make you NEP. I’ve seen colleagues get promised that only for the firm to not honor it.

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