Non-equity partner at a small boutique (20 Lawyers and 30 total staff) in NYC, make $250k base plus full health insurance but bonus has been trash $10k in 2023 and $13k 2024; in 2024 I over saw $1.6M of revenue and lead the teams to generate that revenue, was given a “way to go” from the partners and “future will be brighter” speech; every year there is a reason to not pay out; I was told my salary is capped at $250k, and I gave up origination for my “profit pool” bonus cont. in comments

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How much are your personal billables each year?

The 1.6M that you “oversaw” is great but I take it that there were others billing on that work too. So the firm has to pay their salaries also, in addition to yours. I can see why it would all math out to about $250k in the end. (I’m sorry I know that’s frustrating).

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Beware of firms that offer you that kind of a split. They tend to be smaller and have cash flow issues. Is it paid monthly? Quarterly? And do they have enough work on others’ cases to allow you to bill other people’s clients. Like, who are their rainmakers and how much work do they dish out. Also how much will they write down your hours if they do give you work.

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I was just offered a 70/30 split (firm keeps 30%) of all work that I do; plus I get origination and they pay for my health insurance, what do I do? Keep my stable salary or go the independent contractor route….my book of business is only about $100k at this point…all thoughts appreciated…single 36F hope to find a partner and have kids but right now it’s just me

I’m at a firm with 70/30 split but the firm won’t hire new partners with less than $400k book. While there are internal referrals, there’s no guarantee. I believe some partners don’t receive many referrals. In contrast, I generated about $1m last year for others but that was exceptional for the firm (and me given two large matters for which I needed assistance). I would suggest increasing your book as it should help improve comp within your existing firm and open lateral doors.

Yes, thank you! Working on it! It’s not easy!!!

Move!

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