Market check: just finished as a first year NEP, have a small book and collected 3mm, 2000 billable hours. Total annual comp (base plus bonus) is 750k. Is this normal/typical? Seems low but not sure. TIA!

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People use words different ways. When you say you collected $3mm do you mean on YOUR clients who are at least plausibly portable with you, or do you mean something else (matters/cases you have credit for on institutional clients for example)

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Hm you feel underpaid then

How much of the 2,000 was billed to your book? I think that might be a factor, but I do think that sounds low. At my firm, with a $5MM book, you would clear $1MM without billing a single hour on your book (assuming you delegated and managed all the work).

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That would mean your hourly rate is north of $2k, am I mathing right? Either way you are probably a bit underpaid, but as others said, firms treat NEPs in weird ways sometimes. I thought most firms had a points formula for NEP though so it wasn't completely ambiguous. Does your firm have a formula?

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Seems about right from what I’ve heard assuming you’re at a v25. How big is your book?

Brought in 5mm last year, had collected 3mm by year end and expecting to collect the remainder this year

Rule of thumb is generally 1/3 (cash not WIP) but some firms treat NEPs very differently and do not even judge them on business brought in for comp.

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Which market and practice?

Seems low

What practice area? This seems well under market comp. My firm is a little black box, but I think you’d make double that at my firm.

Rates and margins would matter as well, but generally your comp should be over 1mm. But it's understandable a firm will make you prove yourself as a young NEP and maybe don't give as much credit. Certainly opportunities to make more money at other firms, at least all in.

You're def getting f'ed, presumably because youre a NEP but that isn't conclusive. You should be making at least $1M. Depending in your rate, seems like you're billing most of your book and thus not much leverage (and thus less profit on the book), but your billings should mostly fall to the bottom line.

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