My firm has a collections budget (80% of your billable rate x 1850 hours) and an hourly budget that must be met in order to be eligible for a bonus. The firm cares very little about originations and will reward someone for making their collections over someone who brings in new work. I missed my collection budget due to some odd timing with a client, but originated more than all my peers so no bonus for me. I’ve been at this same mid level firm for 9 years and it’s all I know. Is this normal??

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Posting as :
works at
You are currently posting as works at

Does the name of your firm start with a P?

likefunny

It makes some sense if that is a “production bonus”, but they really should be trying to make you happy/keep you through a merit bonus and/or higher base salary (if you’re not lockstep).

Unless they don’t like getting business? Maybe time to look around and take that nice book with you.

likehelpful

How good is the bonus on that scheme? Is it a percent of the difference or just some random amount? It seems silly to preface your bonus on something you personally have no control over (collections). My firm used to have a similar bonus plan. It was collections minus 2.5 times your salary. (this was for NEP) Based on your hours it was a percentage of that difference, so in a good year of collections you could get a big bonus.

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