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Some do. I think Reed Smith might. Locke Lord is another one that I think might. Higher chance with firms of lower profitability/fewer institutional clients (they have more reason to incentivize associates in BD). A friend at Gibson Dunn told me a story of a matter an associate brought in that was worth like $10 million and he got only like a 5k additional bonus. He left the firm soon after.
Thanks very much for the insight! Incidentally we have very few institutional clients so that's a good point as well. And that story is nuts!
Wow. Mind blowing. Am 200 here and had no idea there is such a thing.
Thanks for asking the question! I have never even thought about it.
I’m at an Amlaw 100 and get 10% of my originated collections as bonus, on top of my hourly bonus. I don’t originate in excess of my salary (yet-maybe next year) but I would certainly be frustrated if I did and there was no recognition!
@A10 it’s a national firm, feel free to DM me for name.
@A1, it’s 10% of everything collected (not just billed) from my clients, regardless of who does the work. (So if a client doesn’t pay their bill I don’t get the bonus on that amount.)
Amlaw 200 and we get 10%. I will note you usually have to split some origination with the partner who helps with the matter, so it usually ends up around 7.5% if you split 75/25.
I think Akerman does. Hell, if you’re a 7th/8th year, they’d probably just offer you nonequity partnership (I’ve seen this happen before).
Yes, but only if you bring in more than 10,000 and it’s 5% for the first 25,000 and then 10% 25,000+
I guess you will be a partner soon?
Leave
AmLaw 200 and we get 10%. Hasn’t done much for me, but some associates with a lot of business make bank since it’s on top of other comp/bonuses.
Will you DM me the firm/market?
I know someone who lateraled to an AM 200 from India who was a non-equity partner in the India law firm (one of the India big law firms) - moved to AM 200 as a senior associate and had a component for bonus for collections in her pay structure. Don’t know the exact percentages but I do know that in India she used to collect about 12% so I doubt she’d have gone lower than 10% while coming down a designation technically.
I'm pretty sure Arent Fox does after $50,000 in fees a year. At least that was the policy when I was in a similar boat a few years back (I've since left).
Can I ask a follow up question- how can you bring in good clients as an associate?
Same question. My firm’s retainer is minimum $20k, and it’s killing my prospects of originating (everyone I know is young and broke, like me) 🤣
I get 20%. What practice area are you in?
A4: does your firm not offer fee splitting?
Foley and Lardner does not, but 10% of fees go to the originating attorney at my current AM100 firm (unless a large discount on rates is offered to the client)
I’m at a mid-size firm in a small market and associates get 10% of collections on files they originate, but only for the first year the file is opened and only if 80% of the amount billed is collected / realized.
Any sense as to how they determine the associate's share?
No problem. I think people who know how to hustle will do well at these kinds of firms (Akerman, Polsinelli, and other “less prestigious” AmLaw100 firms) since they rely on smaller matters instead of huge institutional clients (as someone mentioned before).
Yes my former firm did but the policy was indecipherable and interpreted to benefit partners
Loeb & Loeb does.