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Stop putting two spaces after periods, grandpa.
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I'm curious what the average salary is for an Associate Agent. I'm licensed & do everything after the sale is made as well as refer new business. I have 14 years in the industry but have been at the current company less than a year, so I know that plays a part as well. Anyone in a like-position by chance?State Farm Allstate Travelers
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That seems like an insane jump when you've been working there a year and don't know what you're actually making for the firm. Actually i think that's a drastic jump even without those considerations. You need to know the collection rate and have a good sense of what you could get from lateraling before you ask. I would also factor in whether the firm has a set bonus structure, e.g. bonuses/promotions reviewed every other year or something.
I would be really careful asking to have your salary increased by over 1/3. I don't think it really hurts to ask for something if you've done the math, and it matches (or the lateral market supports it) but that kind of jump would make me question your connection to reality even beyond this salary conversation. You don't want to ruin a good thing if you're otherwise happy.
But how do I determine the collection rate? Depending on the rate, the firm may be the one disconnected from reality. Why do you assume it’s an insane jump when I may be getting significantly underpaid?
What market are you in? What type of law do you practice (obviously this is the lit & arb bowl, but what type of lit)? $400/hour is a lot relative to $90k salary. 35 hours a week is not a lot though. Do you know what your collections look like? General rule of thumb is you should make at least 25-30% of your total collections. Also, do you have a good bonus structure?
I’m at a small firm in NYC with half as many attorneys and I make 130k. You should be doing better and if they can’t do that for you, you should go to a firm that can.
Coach
I’ve never been at a firm where the associate gets to ask for/determine the raise; you are told what it will be. Bold move, but I don’t see the firm being too receptive. Instead of asking for $X I would highlight all of the value you are bringing and hopefully they take that into consideration consideration.
Coach
No my raises are based on my hours and my performance. I submit a self evaluation where I highlight all of the value I’ve bought and that is taken into consideration when raises/bonuses are paid out. But no, when I sit down with the partners and they say “You did a great job, we’re giving you a $X raise” I don’t try to counter that. Maybe I’m leaving money on the table but I don’t think they would respond well to that at all.