I was offered partnership w/ equity at a small firm (15 attorneys, half are PI). Midsize market, not in a large city. I have 10 years of experience.

Pre-Partnership total comp was approx., $200,000 plus health insurance fully paid and 401k profit share contributions.

Partnership: salary went up by $50k w/ higher bonus potential. End of year fees are usually $8-900k/year. Half I originate, half I don’t. This year is high: already at $600k.

What do you think about compensation?

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Posting as :
works at
You are currently posting as works at

Remember being an equity partner is like getting married. Make sure you know everything about how the current partners live and take from the firm. Especially true if you will be the youngest partner.

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You’re lucky to get that from a small PI firm. I’m stunned actually

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What percentage of fees goes to your comp? Is it based on what you recover or originate, eat what you kill etc? Or total profit share split between partners? or is that what you are negotiating?

Either way, not bad with the potential to be pretty great depending on what kind of skin in the game you have

The not bad had a very impressed/enthusiastic tone in my head!

The part that I’m moreso looking for commentary on is the ratio of compensation to fees received. I don’t necessary have a frame of reference for that - if my personal fees annual fees are let’s say very conservatively in a bad year would be $600,000 and a good year $900,000, with 1/2 of those being my originations and half coming in from other attorneys at my firm that I handle, what are your thoughts on the ratio of compensation to fees received?

To me, it seems low unless there’s a substantial bonus at the end of the calendar year to equalize - my compensation would be reflective of less than half of my fees in the door? I acknowledge costs inclusive of 1 paralegal and 1 secretary who are exclusively my own. And fixed office costs like rent, receptionist, etc.

I think what I’m getting at is, what are most people seeing in terms of ratio of money in to money that you directly receive? 40% 50%? 60% etc?

Is there a buy-in?

No

Why not just go out on your own is my thought, but being a boss has its bad days as well. I am a boss.

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