I’m at an Am Law 100 firm, as an NEP. I recently learned that some equity (and maybe NEPs?) partners who have lateraled in are on contracts rather than in the normal comp process. I may be late to the party but never heard of this before. Is this common? What are the typical terms?

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

Common at my firm. Basically it’s just a deal that brought them over that lasts a couple of years until they transition over to the normal system.

like

Why would they transition? I assume the contract deal was a better deal than normal system.

Very common. Almost the rule, I’d say. Terms vary, but it’s typically a guaranteed amount of comp, with certain incentives for new business etc. Looks alot like a free agent sports contract.

like

I am under a contract. How my firm brings in all lateral partners.

like

How long?

Interesting to me too as a NEP; not sure if my firm does this or not.

Thank you all for the insight. As an NEP that is up for equity, curious if the following ever happens:

NEP is passed over for equity for some reason but still a valued partner and key asset that is in demand by other firms.

The NEP says to the firm, ok, if I’m not going to make equity, I’d like a guaranteed salary of X for 2-3 years (higher than current NEP salary but lower than equity comp), and it can be subject to adjustment upwards or downwards if the NEP is substantially above or below target metrics?

I think everything is negotiable in this market. It depends on your firm culture whether this impacts your bid for equity. You’re going to have to make a calculated decision if this contingency occurs. If they pass you over for equity, and you’re actually considering leaving, I would test the waters as to what a lateral move would pay and ensure you have prospects of a lateral move, then approach a confidant with that info and see if you can negotiate.

like

Yes. My old firm offered 2-year guarantee to laterals and they would participate in bonus pool availability for all NEPs.

Related Posts

What are the benefits if I join SG before October? Will I get default yearly hike?

And their cycle is jan to dec or some other months

How much should a senior email designer/developer make? I make 77k USD and feel like I’m underpaid. 😕

like

They need me at my job, but I’m being way under paid. I’ve asked twice for a pay increase. (With a no a a response) I want to put in my two weeks notice to see if they would consider giving me a pay increase.. but I don’t have a back up plan right now to do so. Any suggestions. It hard for them to find employees and the turn over rate is to the rooftop! I would be hard to replace at a short notice now that they are hiring like four new physicians and providers

like

Hi everyone,
How much do you think a CHT of 7 years should be making in New Jersey.
I also had 2 years as a secretary prior to becoming a technician.

like

Hi Fishes,
My Appraisal is due this september. Can anyone of you tell me how much hike can i expect.
Cctc:6.5
Designation:Engineer
Exp:2.6
I joined in jan2020 but the training period of our entire batch was extended due to covid. Hence getting first appraisal in sept 2021.
Thanks in Advance😀

like

My husband having 12 yrs. exp currently holds two opportunities abroad at the moment. We r a family of three (husband, wife and a 1 yo)

One is a contract role (through a consultancy) in Australia with 100k annual pay.. Other one is an On-site opportunity in New Zealand through an WITCH company, not unsure of the pay right now. Their eventual plan is to settle abroad, preferably Australia

Please suggest which one would be a better choice at the moment. Also any info on on-site pay in NZ

like

Hi Fishes,

I Have cleared frist round and now I have hr round what package should I ask??


YOE 6.1
CTC 11

like

Hi everyone ,
Deloitte will match the offer from ZS associates ?
Deloitte-7.5 fixed +1.1 variable
ZS associates-10lpa+1 variable

Please suggest on this..Deloitte Deloitte USI Deloitte Tata Consultancy

like

BNY Mellon technology specific questions -
#0 How much max salary for grade K ?

#1 How long does it take to promote in bny from grade K to L ?

#2 Any specific criteria for promotion? Expr , certification etc...?

#3 How much % hike to expect post promotion ?

Skills- Java, microservices,react, cloud

HSBC India JPMorgan Chase BNY Mellon | Pershing Citi BNY Mellon UBS Citi Allstate BNY Mellon | Pershing BNY Mellon Corporation HSBC India

like

Hi,

Which is better
CitiusTech or Deloitte . Salary is not a concern wlb and projects are important. 5 yoe.

like

UBS If I had to move within the company to a different location , how does it work? For example if I move from low cost of living area to high cost of living area does the company re-evaluate the base salary within USA? Or do they come back and mention its your family requirement since your partner is located and you are moving ?Suggestions or experiences any !

like

I have 3 years of experience. Got selected in HCL.
I have an offer from Nagarro of 15 LPA, but HCL is saying we will 16 LPA, more than 16 LPA will be over budget for your experience.
How much is salary for 3 years experience in HCL?

likefunny

Hi All,
Need some suggestions!!! Please help

I have two offer , one offer is from Infosys and package is 16 + 1.25(JB) and role is lead data analyst - data science (Bangalore location) and other offer is from Latent view and package is 18 and role assistant manager and location is Chennai.

Which one should I choose?

like

Hi Folks, Have got an offer with credit suisse pune for the post of ENO.

Need few answers so please help me if you are aware.

1) When will i get my joining dates informed. I have a date mentioned in my offer letter. And status on portal is showing Onboarding.

2) What are the components of flexible benefits.

3) I am from big data testing domain, has yoe 2.11 years. What challenges i may encounter coming from testing background in IB domain.

4)current 7.5, newCTC 18 is it fairly compensated?

B4 manager (tech consulting) with 10 years of exp. What’s a realistic compensation range for an industry exit? Targeting tech companies (ideally FAANG). Thank you!

likehelpful

I am getting an offer from TD Canada for quality engineer lead. Just want to know the expected base salary?

like

I'm working with EPAM, 7.8 yoe as dot net full stack with ctc 26LPA.
Fed up with my current tech stack now project want on call support over weekend. no one knows project. No one is supporting.
Thinking abt current situation I'm bit worrying.
Somehow given interview in EY and selected. HR ask me CTC, NP and expected CTC. I told 20% and 60 days NP. She said, will check with business and get back to me.
It's been 3 days no response, when I called her today she didn't pick. Is it normal in EY?

like

Hello Folks in UST
I recently got an offer as Automation Tester in UST.
Could you please let me know ,how is the company culture in term of WLB ? Also I want to know about average yearly hike in UST? Do you consider UST as a brand will gonna have impact on Resume?

More Posts

Anyone have tips on writing a cover letter without referring to anything in the resume?

like

Just found out that sperm banks pay $70 per donation. I just found my side hustle 😏

funnylike

Hi,
If I get referred at
IBM, get a mail for details from the HR but do not reply as I currently don't want to switch because of some reasons, can I get referred again after say 3 months?
Asking cuz the profile blocks for an year after applying/getting referred at Accenture.
Please help with the answer.
IBM

like

Any rumour of an inflation based salary increase?

like

I am joining on 2 November but haven’t received any onboarding details. Do I need to follow up with the HR.

Can I expect a quality of work and learnings as a CPP developer in NC ?
Got an offer of System Analyst recently.

TIA.

like
like

Does BNY Mellon not give anything in writing about the bonus that gets paid once a year?My cousin is negotiating an offer and they are only talking abt the fixed amount that will come on the offer letter and are assuring that the bonus will be paid out at the end of each year.

like

@barclays what is the leave policy in Barclays. How many leaves per year and how many gets carry forwarded to next year. When can we encash our leaves.

like

What monitors would you recommend for home office? I am about to buy one myself. I work in FDD. Do you guys recommend the ultra wide? Curve screen? freesync?And what definition is good enough ? I really do love Apple Retina display but the price.

like

Do tech companies like FAANG hire strategy consultants? Starting at an MBB/T2 next year and curious if tech companies leverage consultants as much as other industries. Part of me wonders if they are in such high growth right now that consultants can’t add as much value, thus maybe a smaller presence. Thoughts?

like

Did anyone attend the Salesforce world tour in London today?

Making a switch form Android to iOS. Whats the best way to get my backup messages on to the new device ?

like

Bain & Company Does Bain & Company issue a corporate card? Is it Amex?

like

Grinder is so much more convenient for hookups. Anything similar for straight men?

likehelpful

Are private equity operating roles considered respectable and prestigious in the buy-side space? What does the compensation look like for an associate at a LMM firm?

like

Need advice for: LEK LSS vs biotech VC. Finishing my PhD this year + have interned in VCs. Anyone been in both or trying to transition between these options?

like

EY Advisory Senior Manager, Cybersecurity. What comp can I expect as an experienced hire?

like
like

Norwegian festivals, who has experience with the industry?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal