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Tech startup or big tech company? And why?
Khaleesi is coming to Westeros!!!
Hi Fishes, need your guidance. I am having below offers. Please help me to decide.
Publicis Sapient - 16LPA + PWFH
Valuelabs - 18LPA + PWFH
I want to know in terms of Brand value, WLB, career growth, learning opportunity & job security.
*Also is it safe to join service based company with such a high package in respect to my YOE?
My Info:
YOE - 2.3Yrs
CCTC - 7.25LPA
Techstack - Frontend Development (React) College - Tier-3
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If I leave big law for ADA will I get canceled?
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You’re definitely not a loser. You’re an equity partner at a mid-sized firm. That’s an ideal spot for a LOT of lawyers, myself included.
It sounds like you’re bringing in money that others aren’t so they’re hoping to entice you to bring in more to make up for the others and dangling the added equity as motivation. Sounds fishy.
They do not. Since I made this post, I have since confirmed that other older partners are not being held to the same standard and some were not even aware of the standard being applied to me and other partners in my dept. the standard is not even applied for all partners across the board.
It’s funny you say you are jaded - you sound the opposite
I was told that part of my work was only worth $40k. Today I ran the actual numbers of what I billed to that area of work last year - and it was $265k. I am being gas lit and lied to, and others in my dept are experiencing the same.
I’d leave. Start looking for other work. If they want you to be a rain maker, pay like a rain maker
Hire a plaintiff-side employment attorney who has experience representing partners at law firms to evaluate your rights and remedies in this situation. Plan your next step with this information—which may involve going to another firm or perhaps starting your own.
I’m not a partner but have many colleagues who are and am truly shocked by the shenanigans law firm partnerships pull despite knowing their actions are illegal. It’s like they believe they are above the law.
Sounds like a tough situation that may not get better if it’s already been going on a long time. But I’m not sure I follow everything you said - they want you to pay in more capital than other similarly situated partners? But aren’t sharing profits of the firm with you?
I would try to clarify with leadership what is the rationale behind the different rule/policy applied between you and your peers. Try to get more clarity on the rules to level the playing field.
And people wonder why associates aren’t gunning for partner these days
They are gaslighting you. Sounds like a poorly run firm in any case. You should look at the lateral market and see if your comp based on your book is better elsewhere.
Be careful though since I’m sure your sketchy managing partners will offer you more money once you have an offer in hand elsewhere. If they weren’t willing to pay you what you’re worth now don’t fall for that.
This reminds me of my experience as an equity partner at 150+ law firm. I stayed there for six years after becoming a partner never really figuring out why i was constantly at the bottom of the compensation when i was highly profitable and had as much capital as many who made $100,000 more than i did and not as profitable as me. I recall one year (my 4th year as a partner), i was the second most profitable partner in the entire firm, billed over 100% required and i got pay cut because the firm was doing poorly but all of the six members of my class were given a pay raise while none of them was nearly as profitable as me. As poc, i felt maligned and i even yelled at the managing director over the phone. That was the beginning of the end of my stay at that firm. I don’t know if there was any conscious decision by any specific management committee member but i have been associate compensation committee member of the firm long enough to know what precisely was going on. I recall a young black associate getting slammed by the committee when she was in fact a rising star only for her to leave within a month! So, law firms can be nasty places for unexplainable reasons. I never felt employment lawyer would be able to help because of these decisions are made.
They're gaslighting you and you need to get out. They don't have profitable partners and they're using you as the firm's main source of funds.
Your operating agreement should explain how your equity percentage is calculated.
That’s funny!
Start talking to your friends at other law firms. If they’re also getting thrown over a barrel, you might not gain anything by switching firms. When can you get on the Exec Comm?
Thinking one step ahead 🤓
I am not a partner and neve have been - the firm is a limited company having a fixed number of shares. Presumably you have a copy of the partnership agreement, so it is clear how the % of equity is distributed? If you are seeking a greater % equity, then that means that someone else has to have their % of equity reduced? Is there a formula in your partnership determining how the percentages or each partner are calculated year to year - assuming its dynamic to take account of partners leaving and joining?