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 in the NYC area. My collected billables last year were 457% of my compensation. Any thoughts or advice?

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Posting as :
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NY&NJ 4th year here. Please whisper the name of this firm into my DMs 😆

likefunny

What kind of firm?

The firm has between 60-100 attorneys.

That is interesting - perhaps you can have a floor of your current salary regardless of collectibles. Also don’t love collected billables- u have no control over that

I’ve thought about that too, but it is the only way everyone’s interests are aligned, at least in theory (firm has incentive to collect as much as possible, associate has incentive to bill as much as reasonably necessary without incentivizing “overbilling”). The most fair would be to average billed and collected but I’ve never heard of that

Into this idea. Also agree that you should ask for a floor and probably need to see history of collection. Are some clients better at realizing than others? If so I would want assurances that my firm won't just stick me on the dogs.

So interesting that they want to allocate cash flow risk to you without giving you ownership (partner). But, since they made the offer sounds like they are open to being creative. Please keep the thread updated here.

Just curious, for those that would want a salary floor, what would be a reasonable min floor and why?

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