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Hi Fishes. Is Job in EY GDS secure ?
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Any recruiter recommendations for LA / SoCal?
Should your raise be equal to or more inflation?
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Is it factored into bonus pay? We don’t get origination fees as associates but it’s factored in and then tracked for shareholder comp as if we originated
I’d make a case for it depending on what you bring in. Ask your group leader to run through some scenarios with you and negotiate. My firm does a rough 10% of collections on matters, but its not a hard and fast rule because as the billing attorney you could bring in a matter and the client asks for a discount such that you’re only collecting 70% or less of the time that was worked. It’s not necessarily fair for the firm to eat that overhead cost without reimbursement and then also pay the associate origination on top of it when at the end of the day it wasn’t worth it to bring in.
Rising Star
My firm only gives origination fees for matters with collections over $25k in a given year. My supervising partner highly encourages origination and business development though and we get “origination credit” for bringing in matters even if we don’t get a cut. My supervising partner’s mentality is that it’s essential you build a book and the earlier you get started the better.
Chief
If you were in CA, I’d recommend referring prospective clients to a pal in another firm- a firm that pays referral fees. (Naked referral fees are permitted in CA…)
My firm doesn't pay origination fees but it is factored into our bonus pay like A1 mentions. This is my first full year at the firm, so I have no actual experience, but I was told that the percentage of origination we get built into our bonus tends to be greater than a blanket 10% (which is what I received at my prior firm).
My firm is the same way and they also don’t factor it into bonus pay. They claim it helps you get promoted to special counsel and partner.
Chief
“Make us money or you won’t make partner”
I don't think many firms offer origination to associates. This isn't unusual. But like others said, it's considered in bonus calculations.
Yikes. Associates at my firm get a flat 15% bonus of all originations. It a client goes directly to the associate for a new matter they didn’t originally bring in, that associate gets an automatic 25% of the total receipts toward their end of year origination bonus.
No, 35 attorney size firm in the west