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Rising Star
You are in an awesome position to negotiate exactly the gig that works for you and your family right now. I absolutely would not prioritize maximizing your earnings. I would prioritize using your leverage to create an hours target and position that works for you. Make it clear that you’re invested in the farm, and could see yourself as a partner one day, but would like the flexibility to communicate with them in the future about ramping up whenever you are ready—but that right now you need flexibility and a sustainable schedule. I have been counsel for a long time, and have absolutely loved it while I had small children. I’ve been a very involved parent, but also kept steadily building my career. I feel like I have a ton of flexibility in terms of when I work. I truly feel like I have it all.
Seriously, you’re in the best possible spot. Good luck!
Negotiate a gross up for hours above target. This is pretty common at larger firms
Rising Star
I also do some M&A as a specialist. My take is that in an area of law with peaks and valleys, you still need a FT nanny or very available partner for comfort. It’s just too hard to commit to regular hours to be the only child care. I did it for 6 years where I was off a couple of days a week. It was good and I have zero regrets, but sometimes stressful. When my partner was home in the summer (teacher), it was heaven because I could hang with my family whenever I was available and they could work around me, but knew I could jump on a call whenever and wasn’t stressed.
I would keep the kids home or in PT school so they’re available whenever you are. You can log a ton of time with them that way.
I tend to ride flow of work. If I’m on a deal, I’ll bill 10+ hours a day, but at times that work for me, which usually includes late nights. This works well with deal work, because there’s momentum at night sometimes anyway. Honestly, with a baby, deal work is great because you wake up to nurse them, snag a couple of hours of work, sleep for awhile, nap during the day when there’s a lull, etc. It’s a more fluid schedule, but I got enough sleep, mom time, etc.
Between deals I do very little. So, I’ll be with my kids a ton during the day. Even when work is very busy, I still take a long break in the evening for dinner and bedtime. I do decline to join on deals when I’m up on hours. I just say I’m tied up and don’t give it a second thought. You also have to force yourself to step away from the deal momentum for blocks of time during the day. Honestly, it’s better for you and your brain to take a break, and taking a break to lie on a blanket outside with a baby is heaven.
Honestly, the deal work can be awesome, because I’ll get ahead, and then never worry about hitting hours. That is a gift unto itself. Generally, I have not worked more than they paid me for, and every firm I’m aware of will true up if you work more than the schedule you agree to.
I’ve done 1,000-1,500 hours. With school aged kids, 1,500 is great. 1,000 with wee ones was also great.