I'm a solo bringing in Associate to become partner. Associate has been compensated with a base salary, plus 1/3 of earnings for business he brings in. Firm expenses are around 55-60% of gross revenue. He brings in around 30% of revenue. How best can I bring him in, and at what percentage to be fair? Was thinking 20%, with 5% incremental increases as his business grows hopefully to greater than 30% of total revenue. Thoughts?

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I’m on the other side of this exact conversation (I’m closer to 40% of receivables at my firm) and being asked to elevate to partner with a solo who’s transitioning towards retirement - so I’m just subscribing to see what the firm owners here are saying.

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