Partners: What are typical annual overhead costs for a senior associate in big city biglaw who sits in their own office? I’ve always been curious where my profitability line falls. Bonus points for same figure for shared offices/juniors/bullpens for others on the bowl.

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

I’ll be blown away if any partner in here has accurate stats on this.

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Our firm has a page where you can go to check your hours and it also includes related #s including your share of realization (i.e., how much money you’ve made the firm). If you have something similar, maybe would tell you how far you are over the 3x comp minimum goal. I’m way over and don’t think I’m that special so I expect most seniors are way over the 3x figure also.

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This is really cool.

Multiply your salary by 3 to 3.5. That’s the revenue that needs to be collected off your billables. If you hit a 4 partners should we wildly happy.

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This multiple goes down the higher your rate is. Overhead is relatively equal across firms, and higher rates make it easier to cover leaving more profit for the shareholders. I.e., a V10 second year billing equal hours to a V100 second year produces more profit.

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why not ask your own partners this? Every firms economics are different

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I prefer the cover of darkness

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I’m talking revenue. If you are $400 per hour and make $250 you have to work more hours to produce 3.5x salary than if you are $800 per hour. So yes if hours are constant then the higher hourly rate will be more profitable. But most firms expect at least 1900-2000 hours. I don’t think a v10 firm will be okay with half the hours to produce the same 3.5x salary. In fact I would think most v10 firms would expect a higher multiple because of the higher rates. Which of course means they are more profitable.

Came here to say that you could just…ask?

Why would any of that make asking your question problematic? Partners generally like it when you take an interest in firm economics. You can have someone ask the question for you, but no other way to understand this info

My office’s formula for overhead is ~13% of comp for benefits, ~215k attributed to each atty for overhead. My breakeven number is about 750 hrs at full rate.

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