If you are a non-equity partner and have a nice year, say a 7 figure book, how might a firm compensate you? Non-equity compensation is not really clear to me.

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If you’re a non-equity partner with a seven-figure book, shop around for a firm that will appreciate your contributions and give you equity, even if it’s not *shudder* Vault-ranked.

Even if you end up making the same compensation (or even slightly less), I’d much rather make $400k/year and have a seat at the table and control over my own destiny than $600k/year if that means I’m treated like an overpaid associate who still has to work associate hours.

Sorry, I know my answer isn’t quite on-topic, but if you’re doing that great of a job bringing in business, you deserve to be somewhere that recognizes and values your talents. You could even multiply your book of business if you go to a firm where, say, you could bill $650/hour instead of facing pressure to bill at over $1,000/hour.

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Ah, the legendary prestige dollars. Most people don’t appreciate that they’d be significantly more marketable at a different firm charging 75% of their current rate (if not less), especially if they are a litigator.

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This is a firm by firm thing. Most are pretty fixed in their comp for NEPs. Meaning your base is X and your bonus can be a max of Y. Obviously, this could help you make a case for equity though. And if the choice is between losing you vs. giving you a bigger bonus, they may up the bonus to keep you. Totally discretionary though.

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S1, good point. I’ve been at firms that treat them both ways and the feeling is very different.

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if you have a seven figure book at my firm, they compensate you by making you an equity.... Seriously, if that’s your consistent number, welcome to the table. If it’s just one year, the rest of your numbers would matter. Hours and working collected for work done on your dime. I’d expect anywhere from a 50-100k discretionary bonus depending on my other numbers

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