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Any ideas how EY comp compares to Deloitte?
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Any ideas how EY comp compares to Deloitte?
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my firm does single plaintiff and class actions all on contingency. i’ve run the numbers with thoughts of striking out on my own and i think you need to have a $500,000 nest egg set up or access to a line of credit if you don’t want to sell clients down the river with early settlements. i imagine defense attorneys try to use a new solo plaintiff’s firms lack of cash flow to their advantage when settling cases… In the early days, you are not only going to be working for free for a while, but you have to front the costs related to filing fees, court reporters, normal overhead, mediators, etc.
yes, occasionally but you are there to advise them on what you think is the value of the case. if the quick cash is close to the value of the case, take the money and run but it’s also pertinent that you advise them when they are potentially leaving life changing money on the table. you also need to think about the reputation you are crafting on how the other side views you. You don’t want to start out on the wrong foot with defense counsel thinking they can punk you on every case and only offer chump change. it’s hard to change first impressions and the employment field can be small with the big 4 involved in many cases.
We do only a little bit of Plaintiff’s work. It is usually contingency or hybrid. But we have a couple that are full fee where we are defendants and filed a wage and hour cross complaint in response. Wage and hour is lucrative and not a heavy lift. I’d be more cautious if I was starting out on my own and had mostly discrimination cases on contingency.
I do both. Sometimes a plaintiff will choose, usually I choose based on the posture of the case. For example, representing a business owner and her business in a restrictive covenant case will be billed hourly.
I’m assuming the nature of the litigation also plays a part of this decision - business owner going after a former employee for violation of a restrictive covenant vs. employee who was discriminated against
Very few clients can pay hourly in my experience.