My firm offered to pay me 1/3 of my collected billables on a draw that is squared up at the end of year. For context, I’m a 5th year associate at a mid size firm in the NYC area. My collected billables last year were 457% of my compensation. Any thoughts or advice?

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Do you still get monthly/biweekly salary? Do you have a floor?

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Agree with A1 completely!

Also, important to figure out how your firm goes after non paying clients. My firm is not in the business of suing clients (so nobile of them *eye roll*), which often leaves a number of those participating in an alternative comp structure holding the bag and forced to carry over a deficit to the next year due to bills that simply will never be paid by former clients. If you’re confident that the bills will get paid, great. But, if they’re not your clients, it can be terrifying bc you have 0 control over anything. It also creates a scary situation if the attorney that originated the client is at liberty to (i) implement write offs on a bill or (ii) negotiate discounted deals/flat fees for ongoing clients because there’s your money heading out the window. If a firm is trying to tie an associate’s comp to collections it seems like the firm wants you to take all the risks while insulating themselves (and is trying to sell this to you as a great pitch).

Don’t get me wrong, if a client pays every single bill, in full, timely, this may work to your benefit. But, quite frankly, there are so many variables that can make the structure a recipe for disaster for you.

I’m skeptical. Why are they all of a sudden offering this? Any other info on your firm? Are they having trouble collecting recently and you might experience a drop in income?

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I knew this was an option that other attorneys elected, so I asked if this option was available to me. If it was presented to me out of nowhere I would also be skeptical.

My firm does this, I get 1/3 off my collected billables, so if I bill 200 hr in a month and when all thing are said and done if the firms collects on 180 of those billables, I get 1/3 of that on top of my already base salary that I get every week. I would take it if they are offering it to you with no catch. My base salary was considerably lower then my friends at other law firms but when the bills start getting paid, I end up making 3 times what they make at other firms without that incentive.

1/3 of your collected billables plus a salary on top of that? That sounds even better.

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