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First off, how do they even know how many cases you will receive per quarter? Second, in order to make $25k on a 2.5% bonus structure, the “top attorney” would need to clear 1 million per quarter - using your average 1/3 contingency fee, that’s roughly 3 million in settlements per quarter, or 12 million in settlements per year. Sounds like bullshit to me, especially if it’s an associate.
What is the base salary and your personal generated bonus %?
So different market but I think 32.5% on personally generated cases is major plus. I’m at 25% personal origination and would love that 7.5%. I also get nearly no additional compensation based on settled cases other than a discretionary bonus.
While I think my package in total and other perks is has been good for me for now, it really incentivizes you to spend half your workweek networking your butt off to originate cases. If you’ve got the personality type for it can be very lucrative.
I’m in California. I have been paid 5 percent on the low end and usually about 10 percent for my work done on my cases. My base as a new attorney was 85 and eventually was low six figures. I am currently at a firm that doesn’t believe in any bonuses now and barely pays me six figures (Woof need a new gig)
Seems low to me. Idk what stage in your career you are in, either. If it’s good experience, decent base pay, and you get some commercial policy cases, some surgical cases and not ALL smaller cases maybe give it a shot. You can always move if the money isn’t there. Remember. It’s a percent off the fees so on those small cases you’ll be getting a couple hundred bucks. Also you’re going to have to wait for the check to come in etc to get paid.
As far as the case load I guess it depends on your ability, experience, and current case status. Sounds like it’s volume. Curious about the quality.
I say why not. I think I saw 100k base pay. If you are getting policy limits and that many cases that’s not bad for now. It will give you tools to use in the future to either run your own show or make a jump to a new firm with that skill set.
I'm at $90k base with 3% commission, but caseload of 250-350 cases, works really well
My compensation in Colorado was 10% commissions (10% of attorney fees - 35/40%) which added up pretty nicely. 10% was junior level there. Some attorneys had 20/30%. I’d want to know if you had opportunity to switch to full commission and if so the rates offered
Similar to what I am getting. 100k base + 10% of gross recovery (essentially 25% of 40% fees).