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Oil and gas attorneys what do you do?
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Are you actually an independent contractor?
I did that until my recent job. With the caveat that I also was not paid until clients paid. Did a lot of oil and gas work, so clients would pay on a 60-90 day window. Add another month lag time to get the bill out. I'm still owed a chunk of change from that work, and now the oil markets are tanking. Potential was there to make a killing. But it was a sucker bet. Never again.
That’s me. These are divorces. I sometimes have to wait until the final settlement. I am paid 40% of the total billing and yet I am completely independent. Biggest problem is you spend so much time doing the actual work that getting new clients is like a second job. It feels like a sucker bet right now. But also not the best time to find something else!
Hey OP you just perfectly described half of the job(s) of a typical law firm partner - one full time job doing the work and a second finding the work. Btw a partner’s third full time job is running the firm. And the fourth is training and supervising others. But if it all works out it’s not a bad deal.
Yes. 1099. And yet I use the firm name and make 40% of what I bill after it’s paid. I also get 20% of what everyone else(paralegals partner etc) bills on my clients.
I had a similar arrangement at my first litigation firm. I got paid different percentages based on whether I brought in the case/client or the firm handed it to me.
I passed on an opportunity like that because I wanted more security.
The good thing about 1099 though is you can write off alot and pay less taxes.
Thanks for responding. Feel sort of isolated working this way.
Hey OP. How long have you been in private practice?