Related Posts
Any billable time tips?
Cap billable hours.
More Posts
Additional Posts in Law
Does anyone have any insight on Tressler LLP?
Brand recommendations for a solid standing desk?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
In big law, there is rarely a shortage of work, particularly if you do good work. If there is a slow down in your practice group, you could do some pro bono work or write an article to get more hours. Alternatively, you could enjoy working a bit less and accept that your bonus will reflect that.
But at most firms what you listed isn’t billable.
Chief
OP - you realize most “partners” at law firms don’t understand the terms of their investment? These are hands down the worst business people on the planet. Because they don’t understand the terms of their investment or how their business runs, they make terrible business decisions.
Chief
Also OP. Good on you for understanding that the firm is your business and for running it well.
Pro
If there isn't enough work, then typically the only "consequences" are missing out on bonus. The real concern arises when someone is underperforming compared to their peers. When that occurs, it usually is due to some fault of the attorney. Any decent firm will work with the attorney, but sometimes the answer is simply that people are not assigning them work because the attorney's work product isn't meeting expectations. Then, it's held against them.
Do you pay “your staff” a fixed salary or variable based on what work comes in?
If a fixed salary, there is a minimum number of hours they need to meet to keep the lights on per basic economics.
Chief
P1, you see all employees as an individual P&L.
OP sees his business as a P&L.
Rising Star
OP, I also am in a small firm and understand your point about lack of work shouldn’t penalize your associates. We have lowered our requirements but still talk about hours because we find people stop keeping careful time records without the outside pressure. They get the work done but they don’t record the time at all or don’t record it accurately. We get paid by our hours billed so having accurate time records is important.