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OP here.
Firm has historically never given associates a fee share in the type of matter I brought in. But we won it on the pitch. I wrote the pitch, and actually pitched the litigation strategy. No partners had contacts and I pitched with two counsel.
I was the one with the clients’ cell numbers. One of them invited me to join his charitable organization and another I have calls with twice a month.
I guess my firm thought that they could peel the contacts away from me because I had just made them. They were very wrong. 😎
They were very wrong.
Who lays off bankruptcy associates in this economic crisis? Either your old firm is nuts or you must be a nut they had to fire. Lots of crazy people in our industry so both seem plausible.
A4, you’ll be fine. In NYC? So many firms are hiring. Even Kirkland is breaking its longstanding practice and hiring midlevel bankruptcy laterals. Weil, David Polk, Kramer, Lowenstein are all definitely hiring, plus at least a dozen more.
Rising Star
So glad your client is going with you! Congrats!
Great story. I am a recruiter and I placed a mid-level with business last year. Similar story... was this firm NUTS? Not bankruptcy but tech work and the firm wouldn’t pay him above standard 5th year comp and he was like fuck that... got him a Counsel title at a better firm with way more $$$ and a piece of the action. He’ll make partner by 2021 I’m sure — pandemic or no. Firms often fail to identify stars that started with them or fail to move them up consistent with market. Which is why laterals move.
OP here
Yup it seems like a lot of big NYC firms are this way. Either you give them your generation surplus for years and hope they eventually make you partner, or you walk to somewhere willing to pay you while you’re young.
I’m on 2022 partnership track at new firm (non equity). Market compensation, good relocation bonus and I’ll be getting a much heftier piece of the action on this work than 5% (which is all I asked for at my old firm).
Lol how could they not foresee this happening? (That you’d take the client with you!?)
5% seems like a relatively small origination fee. Why did they not just pay you? You were still making the firm and partners a ton of money.
Rising Star
This is so great and also shocking that they would fire you during this pandemic. Did they fire you because of covid?
This is awesome. Congratulations on landing the matter and getting out of there.
Mid level associates everywhere joining in your celebration 🍻and giving a collective 🖕🏻to your old firm!! Thanks for sharing!!
Rising Star
Your new firm must love you.
Nice revenge story!!!
Love it and congrats on your new gig!
Chief
YESSSS SUCCESS!!