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Thank you all for your patience. I do appreciate it. It turns out having a side project while running multiple proposals is a trifle challenging. That said. I’m posting a first subset of the rawish data. In all close to 500 people took the survey, but a majority were from the Big Four. Here is the data from Deloitte, EY, KPMG, and PWC. Insights to come! https://docs.google.com/spreadsheets/u/0/d/1lN6JrxQfvA_MC4XFZ38G0ppQkBuxRv9mf88Y8NE2X2U/htmlview
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Anyone from Tax team?? DM me please.
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I’d ask her what she thinks is fair. Explain you’re new and not sure the best convention. 50% seems really high to me for just doing the pitch. I go on pitches all the time with no expectation of a cut.
Totally agree.
Depends on (1) how different credits are weighted for compensation purposes and (2) firm “culture.” For instance, if your firm has different credits for the relationship partner and for managing attorneys, then you might consider splitting the managing credit based on how much “input” each person will have on the matter. My firm doesn’t “double count” the two types of credit, so relationship attorneys are more inclined to just give away 100% managing credit.
But I also think culture and expectations are as much if not more important. I’d ask a partner you trust about expectations.
Thanks both. This is helpful.
Hi, I often bring in a new matter outside of my practice area and ask a colleague to run it for me. In particular, as an M&A lawyer, I sometimes bring in solely real estate work. I work closely with a real estate partner and if I am bringing it in and asking someone else to run it, I go 50/50. Sometimes if my M&A deal has a heavy real estate aspect, I open up a separate matter for the real estate piece and have that same partner and his team bill to that. That way, he can be cut in more on the credit rather than giving up credit on the M&A piece. The first time we went about implementing this process, the real estate partner simply responded "what are you thinking on originations?" I found it not aggressive and a good way to start the conversation. Usually, if its just the two of us on the credit, I go 50/50. But this same partner has accepted 30% and 40% before, especially when there are more than two people vying for credit.
50% is high if its your relationship and only need her for the pitch. If shes going to be actually running the deal, then 50/50 is fair, but if youre also going to have an active role, 25-30% is more appropriate.
Curious which law firm?