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Hi All!
I am currently a Senior Software Engineer(Backend) with 4 YOE. My current CTC is 21LPA (All Fixed) with additional Yearly bonus. I got a call from Google (Pune/Bangalore/ Remote) for Software Engineer - Backend. I have the following doubts but any insights are welcome -
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Yea for sure. Surprised your firm doesn’t have some sort of fee sharing for originating such cases as is.
Coach
Low to mid six figures. Auto accidents and one sexual abuse case.
I think it depends on whether what you are bringing in is more than what you would if the client was charged hourly. For example if your rate is 600 and you bill 50 hours ($30k) but the settlement amount you bring in is only $25k then you aren’t actually make the firm money above what you would be doing your usual defense work. If it like a 200k settlement then I would negotiate a % that is in alignment with you current salary vs billable expectancy.
I would look to renegotiate my bonus structure as dollars brought in as opposed to hours worked. If that's how your structure is set. That would give you an incentive but allow the firm to hit their dollar goal where your profitable before paying bonuses
Yes. They’re probably trying to ignore that you’re doing this so they can pocket the profits you’re going to bring in and divvy them up between the partners (like all the other profits). Make sure you get your agreement with them in writing. Don’t settle for less than 1/4 of all business you originate. Also, time to talk about what this means for your road to partnership.
Coach
Does this analysis change if people are calling the firm to see if we do PI and the calls are going to me? In other words, no individual partner is originating these clients, but they do reach out to the firm vs. me personally.
Most firms do not share contingency fees directly. That’s the firm’s money, whether you originate it or not. It should be reflected in your bonus, and originations might be a category that matters for comp, but unless you are an equity partner, the firm isn’t sharing fees with you, they are paying you a salary plus bonus. That bonus should reflect your contributions and expertise as a niche attorney bringing in business
True at most firms, but not generally true with PI work. Origination is definitely ordinarily a thing in PI firms, as is also often a % of cases you settle and/or try.
Most defense clients hate when people go to plaintiffs work.
Coach
It’s different cases, PI/auto accidents plaintiff vs med mal defense. We’re a full service litigation firm, I also do corporate litigation, and we’re plaintiff or defendant probably 50/50