Solo and Small PI firm owners:

-Law school graduation year
-When you started out on your own
-High volume or low volume practice
-Your firm’s average yearly profit
-estimated % for overhead costs

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

2019
High volume
A hair over $200k gross sales
Overhead, including taxes, eats about 40% of that.

like

I gauged the question towards personal injury firm owners; I’d assume PI

1982
1991
Profit varies
Hard years and really good years
K

like

Related Posts

Have much have “normal” working hours or a typical work week changes during WFH? Feels like the past 3 months have just been much more than what is typical before WFH

like

What’s the weirdest thing you’ve done while working from home?

like

Is it common for a copywriter to transition into account/project management within digital marketing?

like

Any one from Airbus project?

Need some information.

I feel like a lot of straight guys would benefit from a woman friend reviewing their dating profiles to tell them which pictures to use.

like

Anyone ever heard of the firm Spire law?

like

Is FAANG overrated? I feel like people who invested their time in Airbnb and others are better off.

like

Your best leetcode advice? Have avoided it, but figure it's time. Back in school I used to solve algos homework to pass with an A, but over two hours, not thirty minutes like in interviews... Ngl, am pretty concerned.

like

My boyfriend’s parents just told him they are getting a divorce (he’s 26). He’s pretty shaken and this definitely came out of left field. Any advice on how to be a supportive partner?

like

Which platform do you find best for affiliate marketing?

like

Planning a one week trip to Portugal. Any recommendations?

like

Guys - help me decide. Left or right? Let’s assume value retention and reliability are out of the question.

Post Photo
like

Hi All, I’m thinking about getting certified in change management but not sure if I should go the Prosci route or CCMP route. CCMP is a lot cheaper compared to Prosci but would it measure up just the same?

I guess it would be similar to the discussion of the SHRM-SCP vs SPHR.

like

Question about federal clerkships- OSCAR says that one of the minimum qualifications is having served on an editorial board of law review. Does anyone know whether it’s possible to secure a federal clerkship without having done law review??

like

Looking for advice on types of roles I should be searching in financial services. I am an expert communicator, both written and verbal (many publications, and pre-consulting/fs career in public speaking), and a great salesperson. Want to be able to keep writing and attending conferences, as well as have a sales component. I don't enjoy working with back office banking robots. I can play the part short term, but have bristled on longer term engagements with human potatoes. 8YOE, Series, & CAIA

like

Working my entire vacation in a hotel room...what's the point of all this PTO if we never get to use it 😩

like
likehelpful

What is an appropriate response for a Partner to provide staff when they say they aren't as invested in follow-up requests (for a project that ended 2 months ago) because that project experience was horrible, resulting in a mental breakdown?

like

Thinking of jumping ship and looking for a better opportunity, does anyone know what it is like working for Apple or Microsoft?

like

Fellow product marketers, do you, or know other PMMs, that work strictly 40 hours a week? Curious how common this is in our role.

like

Additional Posts in Small Law / Solos

Anyone have tiered fees? Wondering about the feasibility, and separately, ethics of, for example:

Monday 7:30 am to 5:30 pm is [rate]
Monday, Tuesday, Wednesday, Thursday 5:30 pm to 7:30 the next day is 1.25 * [rate]
Friday 5:00 - Monday 7:30 am is 1.75 * [rate]

Already seeing the pitfall of the bill having to be lengthy to detail when the work was done. I’m just so tired of people thinking I have to be available 24/7 at their convenience. I feel like clients would become way more reasonable

like

Lawcus v. Clio? Which do you prefer?

like

How long did it take until your first settlement? What was the final amount?

like

When potential clients tell you they’ll hire your firm but they want to be 100% reimbursed from you if you aren’t able to get them the outcome they want - how hard is it not to laugh?! 🤦🏽‍♀️🙄

like

I believe improving one’s sales conversion rate is something everyone want to improve but no one wants to admit they would like to work it. Funny how lawyers will spend thousands on seminars to improve trial skills. But this topic is not discussed in our profession. I have read books in sales. But am unable to find any for lawyers. I want convert every lead I can. Does anyone have tips, books, cle’s or studied this topic?

like

How do you handle clients that do not pay? Do you write it off in your taxes as a business loss? What about pro bono work? Do you consider that a donation?

like

Could anyone please share their income the first 1-4 years for a solo family law and or criminal defense firm?

like

Trying to cut billable hours. Anyone utilize a “subscription service” for lack of a better term. EX: charge $300/week until matter resolved. Hypothetically capping your case load per associate could bring in the same amount on a steadier rate than billable hrs. (25 matters x 300 /week) Giving client ability to budget their family matter.

likehelpful

Any international trade/customs lawyers out there? Would love to pick your brain and learn about an easy way for a solo to break into this field.

like

Some success, now what? I started a solo practice July 2020. I’ve been successful in building a book of business sufficient to satisfy my overhead and provide me with a respectable income. I want to grow my practice somehow, but I’m stuck at figuring out how. I do mainly corporate transactional work and some litigation. Any advice?

like

Been practicing a year now. Of 6 attorneys, 4 will be retiring soon, and I was brought in to hopefully take over. I am troubled: first that my partners largely provide me with no guidance. They handed me a client with a large quantity of fairly straightforward casework and have been hands off since. There also hasn’t been any talk of a raise/performance review. How should I ask for guidance/mentor ship? How do I ask for a raise, or should I presume one is coming?

like

Anyone know average salaries for 3rd year associates at small firms in San Francisco that represent government agencies and non-profit affordable housing developers? The firm has about 20-25 attorneys.

like

Thinking of starting my own estate planning and real estate closing law firm. I have some experience in both. My concern is getting clients once I open the doors. I graduated in 2018 and have worked in a few different jobs since then. I am located about 45 min outside of Boston. Anyone open their own firm and see success right of the bat? What did you do to start getting clients in the door?

like

Does anyone have any experience with Clio Grow? Specifically; my firm is adding Grow (we already use Clio Manage). Documents/intakes need to be integrated/transferred over. Clio Grow has quoted a setup cost of $400, which included 2 intake forms and 3 documents. Trying to weigh the cost/benefit ratio; I can have my receptionist do it too for $10/hr. But wondering how difficult/intricate this whole process is and if it’s best left for Clio to handle for me.

like

Seeking advice on how to gracefully accept bonuses you feel you deserve? I’m a plaintiff’s attorney in a small firm (1 associate, me and two partners). My salary is about 18k lower than market. I stayed because I genuinely do like the work and I was promised bonuses when finances allowed (no clearer policy/structure than that). I struggle with how to handle bonuses because I am grateful but I also feel like I deserve them given my low salary.

like

Any solo immigration attorneys here? How long did you work for other firms before going solo? Is there every a good time to start a solo practice? (Specifically, in California)

like

I'm interested in starting my own firm as a 2nd-year attorney. I have experience in personal injury and general business law. Not sure what practice areas would be viable as a solo. Any thoughts?

like

Does anyone have experience buying a firm? How is valuation determined? Should I be focusing on gross or net revenue? Any insights would be appreciated!

like

Back when the pandemic first hit, everybody at the firm took a 20% pay cut (with 20% reduction in billables...which was meaningless because I still had work to get done in a timely manner). Pay cuts still in effect through end of year. Anybody else out there still working under pandemic-related salary reductions?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal