Just found out my raise for the year and it’s an increase of 5.6%. It is the raise I would’ve received last year, but then that was halted due to covid and no one got raises. I’m the most senior associate and have been told I’m on partner track, but I think the raise should’ve been higher and am pissed, but I’m also grateful to still have a job with covid. What raises have you gotten and how has covid impacted your compensation? I’m in a mid size insurance defense firm in the PNW.

likesmart
Posting as :
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That’s fantastic great job. Especially considering the hours and just keep on it and you’ll make partner.

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Thank you

Insurance defense SW. 12% raise and 30% bonus on 2400 hours billed.

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Rate varies based on client on average 150-200 and bonus was 2.2% of base, also shit

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So let’s say your average rate is $175. Your collection realization was probably about 90%. So using the rule of thumb that total associate comp should equal about a third of total collections, your math would be 1410 x 175 x .9 x .33, or $66,600 last year (base plus bonus. If you annualize 1410 hours for 2021, your projected production this year based on last year’s pace is 1,692. Let’s say your rate will edge up a bit to $180. That means your total pay for 2021 should be 1692 x $180 x .9 x .33, or $91300, including bonus.

There’s some blurring of the numbers here, however, because it’s not clear how your maternity leave was treated (paid or unpaid), or what your salary was last year or this year. Another factor is that ID firms run on razor thin margins and pay folks near the bottom of the market, so the rule of thirds might not apply to your practice and market.

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OP, hang in there. Will be sending you positive thoughts.

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So we need the same info we always need to advise on these issues. What’s your hourly rate and how big was your bonus?

Also need billable hours last year and base salary last year.

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Base salary last year was 90k and I only billed 1410 hours because I was out on maternity leave for two months

What’s your rate and last years’s bonus?

And congrats on your baby. I hope you and he or she are healthy and happy.

likehelpful

I am in-house with a local government. No raise in 2020. Typical raises only 3%. Longevity means nothing. Production means nothing.

Oh and no bonuses of any kind

Still steaming because my firm gave cost of living increases (so raises across the board, not just a raise for advancing a class year basically) to all senior associates but only mid-levels in some offices, after crowing about how 2020 was such a great year. Juniors didn't get cost of living increases either but I think that has more to do with not moving the needle on first year salaries

Ugh that sucks!

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