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I’d like to be at least 150 an hour but is that over doing it?
Way under paid. You should get 50 percent of the bill rate. What you may need to negotiate is timing and what percent up front when hours performed vs after collect / realization. So may want to ask for $200/he at performance with a kicker when they collect, so you get 50 percent of the billings. I don't think rule of thirds is right for this. Another big issue, which is why I suggest the above is who's hours will get collected vs written down. They are going to want to pay you out of cash collected bc of cash flow. My friends that have done this have occasionally run into problems where they did 20 hours of work as a contractor and someone at the firm did 20 hours, but only the contractors time was written down.
I think 5th years in biglaw/cravath are billed out at roughly $600-900/hour, perhaps more depending on firm, location, and practice area. That being said, I’m not sure how the arrangement would work with you being a contract attorney. Like would the rule of thirds apply?
If I’m being billed out I’d like to be a rule of thirds type situation.
Are you asking about what they'd be paying you? Or what you'd be getting billed out at? Since you're a consultant you should be getting a higher proportion since they have less overhead for you and you're getting fewer benefits from them (have to pay your own medical etc. And idk how taxes work. Are they paying employer taxes for you? You might have to pay those...).
I have my own insurance and it’s so small right now I run my own conflicts. It’s substantive work. Right now I’m GC for one firm, having a conversation about doing similar work for a firm that does that as well.
Hey I'm trying to do this myself do you have any tips? Right now I'm either trying to find project attorney gigs or part-time gigs that are remote that would be easy to do with my full-time job I realize this limits me probably the non-substantial stuff but I feel like to get a foot in the door it would work. I do have my own insurance just been trying since around November to get some work.
My malpractice carrier has sample ones