For drafting a stock purchase agreement for first few shots as a junior/mid level, how many billable hours spent are appropriate?

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

I’m 9 years in and it still takes me the better part of two full days usually. Maybe I’m slow, but the initial cut of a purchase agreement is a slog.

like

Depends how much work needs to be done to the form you’re starting with. Did the partner give you a sample they like? Do you need to make any changes to the transaction structure?

like

Second the recommendation to use the drafting notes on Practical Law. It'll take you longer to draft but you'll produce a better work product.

like

Ask the senior/partner

Related Posts

For small firms - What was your billable rate in 2015 and what is it today in 2022. Please provide your practice area too, if possible!

like

A reminder to those who are stressed about your billable hours that your value is more than your pure productivity. To those stressed about relationships, relationships are hard even for non-lawyers, but you are absolutely worthy of love. It is an important reminder for all of us that you are worthy and you are valuable. Keep fighting!

like

Has anyone transitioned from Tax to RM? Could you share your experience and pros/cons of the change? Really want to get out of client facing/billable work, but I like my firm. Thank you!

Does your company track billable hours? And is it actual billable or scheduled billable?

like

Has anyone made the switch from firm life (specifically, ID) to a government role and regretted it? It’ll be less pay, but better benefits, more fulfillment, and obviously no billable hours which sounds amazing right now.. I’m just really nervous that I’ll miss the paychecks!

like

In your experience, how accurate has the Robert Half Salary Guide been? Small law in LCOL area. Fourth year associate trying to figure out appropriate salary range. I’ve heard the 1/3 of your billable time value as well? Any guidance appreciated.

like

Some good news after almost 11 months of applying and interviews and lots of rejections finally got an offer! In NYC small firm, ex big law folks, no billable hours, niche practice area, appearance of forwarded thinking firm, remote till who knows when, emphasis on pro bono initiatives and building book of business. The catch salary. Was making around 140k at last firm with 1800 billable. Offer is 85k and revist to bump to around 100k in several months after review (plus discretionary bonus)

like

Apps for keeping track of billable hours?

like

What’s your take on Lydecker? What is the culture? Market salary? Expectation on billable hours? Mentorship? Etc.?

like

Obligatory financial info post. 1) size of firm, 2) billable requirements, 3) salary, 4) bonus, 5) quality of life, 6) debt, and and 7) family/married/single. Go!

like

Two of my really good friends at work have had their work dry up in the past few months (because of the Rona). I'm like two months ahead of them on hours, and they're worried about not making their minimum billable requirements.

Feel sort of guilty and try to avoid talking about hours with them. I'm just hoping the firm doesn't give them trouble...

like

Question re: salary. I’m thinking about accepting an offer at a small (4-6 attorneys) transactional firm. I would primarily be working on NDAs for clients. The role sounds great (no billable hours, fully remote, flexible hours/ can work from anywhere); however, the salary is $70K. I’m a new attorney, with only one year of experience. Does this salary seem low? If so, any advice on what someone in my position should ask for?

like

What's up everyone? I saw a salary survey posted earlier. What do y'all think I should make at a litigation boutique that handles primarily business litigation on a contingency fee? No billable hours.

So I have completely lost interest in my area of practice mainly because I haven’t been exposed to many matters (our team is really slow) and I am the most junior in the team. So billable work is never constant. I feel like this has impacted my interest and stagnated my growth. I am thinking of moving into a different area of practice that I’m interested in. Has anyone ever done this? I’m actually depressed and I really hate being given work now. I have ADHD. Please advise

like

I have a question about mid-size Philadelphia law firms. Does anyone have any insight about what life is like (culture, pay, billable hours, cases, WFH, perks, etc.) as a junior partner/senior associate/of counsel in the litigation department at the following firms: Montgomery McCracken, Schnader Harrison, Stradley Ronon, Dilworth Paxson, Klehr Harrison?

How is the billable rate for each associate determined at your firm? Does everyone in the same class bill out at the same rate?

like

I’ve worked the last nine years for my state legislature as an attorney analyst, drafting and analyzing proposed legislation. I’ve primarily worked on health professional regulations. Next year, I will apply for student loans forgiveness under the public service program and would like a change. I know others who have gone into lobbying/government relations, but I would like to find other options to pursue. I’ve never done billable work so not sure if law firm life is for me. Any suggestions?

like

I started at a new firm this year in January. I had a billable goal that was given to me mid year of around 1750 house for the year. I am nowhere near that and definitely will not meet the goal. I had so many non billable hours I was forced to take when I first came in. I worked my ass off in busy season. At my previous firm I never fell short of hours as it was B4. This firm is mid sized and more focused on WLB. My question is how bad do you think this will affect my comp??

like

What are firm’s known billable requirements? Is there a ramp up period?

So, I'm happy at my current job and have been there about 18 months. Our pay is probably 15% below market (AmLaw 100) but so are our billable requirements. An interview for another firm kind of fell into my lap, and I'm debating whether to take it just for the sake of seeing what market really is. Is there something shady about interviewing somewhere you're not totally committed to accepting an offer from?

like

More Posts

Anybody looking for open positions in Accenture, dm me

likeupliftinghelpful

Whats cringier? Receiving this message from a stranger or the number of accreditations in his profile?

Post Photo
funnylike

How much time EY takes to roll out the offer contract? The offer was shared in a formal discussion however contract is still pending.
Ps: More than a week since the discussion

like

Any reviews on what’s it like working at FIS? Do they pay well? Best benefits? What’s it like on strategy? FIS

likehelpful

My RFE response deadline is coming up this week and GGLaw still hasn't submitted it. They refuse to provide an update and only respond with generic messages. How can I escalate this? I'm very worried.

like

A former colleague of mine (a sweet Indian American woman in her early fifties, who moved to States when she was 2 years old from India) said last week that Trump policies messing the H4/EAD renewals are very much valid even though it pains folk she know. Her reasoning is that Indian American kids are taking huge loans to study here and those jobs are being grabbed by FOBs. Never thought I would hear something like this from her. Anyone else come across such behavior from Indian Americans?

like

I want to get my masters in HR, but I also want to get my phr.. is it better to get one over the other? Or should I do both. Are there any masters hr program someone can recommend?

like

Applying for a EYP Finance M&A Senior Consultant position and was wondering if anyone from the group could tell me more about the services and solutions provided + tips for interviews

Hello HR folks. Overheard a conversation at work and am curious what is the norm.
If an employee goes out on FMLA, obviously the benefits person sends them the STD, FMLA paperwork etc. But is it the maagers responsibility to maintain communication with the person out on leave and to get a timeline on their return or would that be the benefits team? Or maybe the HRBP?

like

Does any one use Wit and Wisdom reading? I am looking for PowerPoints, Slides, Reaources, etc ...4th grade

I had a failed natural FET in Sep & did a mock transfer 2 weeks ago (HFET). Results came back Receptive. I got my period 2 days after stopping the PIO. RE mentioned I can start embryo transfer this week & did not need to wait for my next cycle. My periods are not always regular, so I like the idea of not waiting for them to start but also nervous if this could impact the embryo transfer as it would not follow the same timeline as that of the mock cycle. Anyone try this approach with success?

like

London, UK. Currently work in real estate finance for a retail/commercial bank. 2+ years exp in debt (mezz and senior). Graduated 2018 from UK target in Real Estate (around 1/5 modules were finance). Looking to get out of retail and move to corporate. Think IB might be a push but MBD at GS sort of think more likely. I’m doing CFI modelling course to get my skills up to scratch. Any other suggestions? I think CFA has slim to no value in my situation but open to hear otherwise. Cheers

like

Larsen & Toubro Infotech I got an offer from LTI of 13 lpa. I am having 4 years of experience so should I go for it or negotiate this. Larsen & Toubro Infotech
Fixed is 12.4 lacs
Variable 60k

like

Advice on how to transition from agency to brand side?

like

Looking to connect with individuals who are on the market for a new home in Austin. Preferably new builds and/or considering buying a lot and building on their own. Resale is okay too! Hit my up in my DMs. Will venmo you for a cup of coffee for ~15-20min of your time.

like

Hi Fishes 🐟,

Could you please tell what would be my in-hand?

Yoe: ~2 yrs
Role: SDE
Company: Startup
Techstack: Spring & React

Post Photo
like

How to keep mother and MIL apart? Wedding in 7 weeks, moms hate each other. Both sets of parents live close by.

Dreams of having them all get along in the future have been reduced to dust. Now just trying to make it through the wedding and keep them apart for the rest of my life. And pray they let me and my husband build our own lives.

likefunny

Does any one work at Georgia pacific? Honest reviews ?

like

I’ve been reading Walker’s book “buy then build” for acquisition entrepreneurship. Anyone here consider themselves and acquisitions entrepreneur?

like

Any Senior FAs looking for an experienced Junior FA? NYC/LI Area.

like

Additional Posts in Big Law

Does anyone have experience or insight as to how best to navigate receiving a large settlement bonus (not something that happens on a regular basis, and so is not “expected” income) while on fed student loan income based repayment plan? Next year they will bump up my monthly because my tax return reflects a higher income than my actual salary.

like

As a junior associate, how do you find the healthy balance to take initiative in matters as opposed to wasting billable time on something the client won’t pay for or the partner might not actually want?

like

There’s always a Delaware entity in every financing deal so there’s always a need for a Delaware opinion. Why don’t more big firms open tiny offices there and just keep that stuff in-house rather than refer it one the shops there? No offense to RLF, Dorsey, Morris Nichols, etc.

like

Any thoughts on Orrick LA culture?

like

Please advise - I mistakenly ticked “Paper check” option for my NY state tax refund but I moved out of my apartment already. Is there a way to have them send me a direct deposit to my checking account instead or is it too late?

like

Any idea why some big law firms are not on Chambers Associate?

like

When it’s slow, do mid levels and seniors start hoarding the work? Feel like all our juniors are looking for work, and the upper levels say they’re slow but looking at office pace someone is lying.

like

Hanging v. not hanging diplomas in office?

like

The general trend at my firm has been that most folks start work around 10 am. Even when going into the office, most arrive close that 10 am mark. Is this how it is with you? Or is this more of a NY thing?

like

Does anyone know if there is a service out there that is essentially tutors for junior associates? I feel like there’s so much I don’t know and I have imposter syndrome and it would be really helpful to have a tutor or advisor to speak to about technicalities/process. Does such a service exist?

like

Hey l'm looking at potential firms for OCI. Any insight on Cooley? They seem like a great firm for me since I'm tech focused but I'm concerned about allegations of corruption.

funnylikeuplifting

I know this isn’t a “biglaw” firm because it doesn’t pay market, but did anyone else see the insane bonus numbers at 2400 hours for Loeb & Loeb? Is that real? $305k bonus for an 8th year?

like

London: possible to negotiate no/a reduced probation period while lateralling?

like

What is the best way to communicate to a senior associate that you can handle something yourself without offending the senior associate?

like

Got an email from the California Bar today about withdrawing due to COVID. I got sick for a week with the non-COVID flu and have been considering withdrawing and taking the July exam instead, so I guess I’m not alone. Is anybody on here who either withdrew or is considering withdrawing from the Feb bar because of illness?

like

Has anyone billed less than 1000 hrs as a first year?

like

How soon is too soon to lateral (if you’re a three week old lateral)

funnylike

Is it a bad idea to lateral now? Market is hot but I hear people are worrying about the stock market and the slowing of deals. I’m lateraling in M&A/ECVC space.

like

What happens to average associates who do good enough work but don’t care about partnership? Do we eventually get pushed out?

like

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

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

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