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Time to move on. 3 years out 70k is wildly underpaid regardless of percentage.
First rule: find something you love
Second rule: find a place that compensates you properly to do what you love
What market? If you're underpaid in your market, I suggest you find a new job. I was rejected a raise twice and had to leave. Ended up doubling my salary.
Are you getting any % of what you bring in? (the 1-3 mil?). If not, wildly underpaid to be bringing in those types of figures. Get a % of what you bring in or what you lead on
You are getting hosed
How’d you make it 5 years under those conditions? Also, is that 1mil per year net or is that gross before expenses?
It’s been a good place to work otherwise. It’s net, I carry a caseload of 80-90 clients.
What geographically area do you practice in? Lets set up our own shop
Message me, it won’t allow me to message you.
Is the 1-3mil cases you have originated or cases you were assigned and were successful with?
For the ones you handle for the firm not referred to you directly..I would enjoy the experience and if you feel overworked ask for a raise, otherwise enjoy the experience working on big cases. For cases directly referred to you discuss with your boss getting an origination percentage on those.
You only make $$ if your an owner. Been there.
I don’t think this is true. Yes if you’re the owner you make the big bucks but it’s standard practice for any attorney at the firm who is handling cases independently to receive a percentage of the fees, both for cases the attorney originates and for cases the firm originates (different percentages for each type of course). If there’s no percentage then the base has to be much higher.
Just opened my own firm for similar reasons.
Are referring to revenue or net fees? If it’s revenue you are under paid. If it’s net fees just leave and start your own firm
If I was consistently bringing in 7 figure cases, I'd go out on my own. You'd make more than you're making now. These days the overhead to start your own firm is pretty minimal. Do some per diem depositions to bring in some cash while things get going.
At this point in your career, at a bare minimum, you should be getting a base salary and a percentage of the fee on every case you bring to your current firm. Based on your experience, I wouldn't accept anything less 33% of the fee on cases I generate; really, your goal should be 50%.
I honestly cannot imagine working for another firm where I am making no % of the revenue that I generate for the firm in exchange for a salary, a desk, some paralegal services, and a printer.
Salaries are for government lawyer work where you generate nothing. Firms should pay associates based on realization, because otherwise were just staff.