In another thread about Fisher Phillips, LLP someone was talking about the “formula bonus” as opposed to the hours bonus. Can someone plz explain to me what that is?

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

You get 30% or maybe 33%, can’t remember, of every dollar over 3x your salary of what you billed (or collected, also can’t recall). So if your salary is $200k, and you billed/collected $700k, you would get 30% of $100,000.

like

Anyone???

Oh wow that’s hard. So you either have to bill… A LOT or make sure you push off all the EPL work onto juniors. Ugh. Okay thanks for the info

Yeah it kind of screws you over if you have a lot of shitty EPLI work or shitty clients but huge upside if that doesn’t apply to you

Related Posts

What are the pain points or challenges being a vendor in staff augmentation 2022

like

Where’s the prettiest place you’ve ever been and your favorite memory of where you went? Post a picture of it! I’m missing being able to see what else is out there beyond the walls of my apartment.
Mine is Thailand. My favorite memory is standing in the water and watching the sun set over Railay Beach.

Post Photo
likeuplifting

Are there better places to donate to than these bail funds? I’m worried that bail will be paid to people who actually committed crimes. This probably won’t be a popular opinion so apologies in advance

like

Does receiving a ‘Does Not Meet Expectations’ on year-end review with no other next steps - In this environment - basically mean I’m on the chopping block? Should I start job hunting?

like

Anyone else burnt out from work not because of the hours/stress but because of the actual work itself? I’ve reached new peaks of hating my job.

like

Post your favorite books atm mine are:

Atomic Habits by James Clear
Outliers Malcolm Gladwell

like

I’m good at conceptualising — but how can I become a better writer?
I saw some copywriting courses on ‘42 courses’. Does anyone have any experience with their courses? Or have any other recommendations?

like

Do you feel like a Cannes Lion is worth less now? In this post-covid era, are awards (and award shows) still relevant?

like

I will be joining EY in mid of Aug, will I be eligible for bonus?

like

Mhmmmm mhmmmmm yeah. Sure. Mhmmmm. Mhmmmm. Mhmmmmm mhmmm mhmmm. Yeahhhh. Yeaaahhhh. Mmmmhmmmm

likeupliftingfunny

Do you guys ever do message platforms / message maps? If so, how do you approach it? Is there a specific template you use?

like

What do you think about Vice President who forgets what’s discussed in the last meeting and have to start the business story from the scratch again? Attending a meeting unprepared every time. I don’t know where he uses his brain for. So uninspiring.

likehelpful

Does ADHD have a big impact on your memory? It feels like if I don't have constant reminders set or leave notes for myself I can forget ANYTHING even if it's really important to me. I think it's making my partner feel like I don't remember the things they say or don't care to listen. What can I do?? Not on medication but if it helps with this I'd take it.

like

I was told by my manager that I’ll be getting a promotion and a comp raise about a month and a half ago. It hasn’t happened yet and he keeps saying HR is slow to respond. Is there anything that can be done or do I just keep waiting around?

like

I’m a data warehouse consultant with about 5 years experience. What is reasonable compensation for this role in a city with mid-high cost of living?

like

Anyone here in large Automotive Tier 1 sales? What’s your position, sales/yr, base and bonus?

like

Anyone in dental sales?

like
like

Anyone use EQ bank? What is your experience with it?

like

Additional Posts in Law

Anyone keeping tabs on the Darrell Brooks trial? Prime sovereign citizen nonsense.

like

How do I train my critical thinking skills? Any book recommendations?

like

Trying to explain billable hrs to hubs. I billed 160 this month, which he said “is only 40 hr weeks” (true) - but how many hrs do you figure you “work” or are in the office to bill 150?

like

Hi all, healthcare question here. If premiums are equal and my employer is funding my deductible under HDHP up to the deductively under the PPO plan being offered, then which plan is preferable and why? I read all the materials about both plans but I’m still not really sure which one is better for me - it seems like the difference comes down to co-pays and the HSA. Any advice or insight is welcome.

Me. Every single day. Since I started practicing.

Post Photo
likefunnyuplifting

Mid-senior level transactional folks: how do you originate deals? The only deals I originate come from when one of my corporate clients randomly decides to sell a business. There has to be another way to land more deals, right?

like

Am 2 months in to a new job with billable hours and I am miserable. How do I seamlessly go back to my old firm? Is this move a career killer?

like

Billables are low this month. Like I have 65 billable hours in so far. I’ve messaged partners over the last week to try and get more cases but there are tons of new associates who were just onboarded and were at a low point for business. I’m freaking out

like

Any ENFP lawyers out there who are happy? What do you practice? Just saw that a job not for this personality was “corporate attorney”... so just curious.

like

Is there an appropriate way to turn down an assignment because it is non-billable? Two of the partners I work for keep asking me to write client bulletins and articles with them, which is great, but now I’m starting to worry about meeting my billable hours requirement.

like

What up ladies and gentlemen today we are discussing the legal ramifications of contact tracing on cell phone carriers. Are there any plaintiffs lawyers eyeing lawsuits over data policies? Are they are insurance lawyers seeing risk?

like

Anyone else here kinda like doing doc review? (In moderation of course)

likehelpful

Entering 3rd year at mid size firm in SE doing ID. I like my firm but really dont like the partner i exclusively work with and am going to put in notice. Do i tell the partner i work with first or the managing partner?

like

Workout before (4:30 am) or after (6:30ish) work?

like

If I leave big law for ADA will I get canceled?

like

What's the most amount of background checks done on you in a 3 month period. I'm working on 5 so far.

like

Firm announced flexible come and go as you see fit approach to coming back to office. Partner I work for said I need to be in office 4-5 days a week anyway. Thoughts?

likeuplifting

Any thoughts on Phillips Lytle? If you could please provide insight on culture/billable requirements? Thank you.

like

This is not my wheelhouse so I’m not sure of the answer. If someone is writing a “memoir” and is including me in it, and I DONT want to be in the book, do I have any legal recourse? I understand since it’s been published it doesn’t meet any invasion of privacy or potential defamation yet, but is there something I can do preliminarily to protect myself and stop my inclusion?

like

Where are the big law staff attorneys at? Mind sharing what the difference in compensation/workload is compared to associates?

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