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Rising Star
That sounds like a reasonable offer to me
Typical. When I moved in house I negotiated for higher bonus percentage given multiplier effect of annual base increase. Eventually bonus / other incentive comp will become majority of compensation.
What year are you? Seems like a good package day 1.
Thanks. I’m a sixth year
I was told the same about my bonus that was supposed to be 40% of TC. That lasted a year before the company decided to not pay out 100% bonuses across the board. I'm currently looking for a new job...
You can try to negotiate a higher base but I wouldn’t say you are afraid the bonuses don’t pay out. It’s private equity, everyone’s pay is variable.
I'd try switching practice areas if they're willing to let you
F
The only way to get rich working for someone else is through leverage. As in house counsel, you should seek it out.
If you are looking for salary, you will be low balled. Leverage (through bonus and/or equity) are how people make more than their contribution is worth. You are taking a chance on the success of the enterprise, they will reward that gamble. Or, you will make less than your contribution is worth if the enterprise fails.
Try to find out if the bonuses have been paid in full the last few years of this real estate slowdown...
Rising Star
This. I would also ask if the bonus is subject to a multiplier.