Trying to do a little market research. I’m a partner at a corporate boutique focused on tech startups, and we’re recruiting BigLaw refugees. Would the following offer be appealing to you?:
-Fixed salary 60% of Cravath scale
-No hours requirement. We expect you to work hard 40-45 hours/week, but we’ll respect your nights and weekends (with rare exceptions), and let you take holidays and planned vacations
-Work from anywhere

If it’s a marginal “no” for you, what would push you over the edge?

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The salary is too low for 40-45 hours a week. That’s still a 2000+ hour requirement.

Maybe at 80% Cravath. I’d forego bonus for 80% of Cravath.

likehelpful

60% scale is a huge pay cut. 70-75% salary and 50-65% bonus and now we are talking

likehelpful

To clarify, this isn’t *billing* 40-45 hours a week, but *working* 40-45 hours. In our experience, that translates to weekly billables in the 20-25 hour range, but we don’t want our attorneys fixated on billable hours.

likesmart

Seems like a tough sell. Have you thought about just paying an hourly rate + % of any business they bring in? Basically partner-style comp. If work is remote, then what are your main per-associate overhead costs — largely just health benefits? You could say (just spitballing): above the breakeven overhead point, the firm keeps 60% of your collectibles, you keep 40%. Origination is payable by _______. That should give both parties upside benefit and downside protection.

From an associate standpoint, the fear is always that the WLB doesn’t improve enough to compensate for the huge cut in salary

smarthelpful

Salary is a bit low. What's the bonus situation?

like

Thanks for the feedback. Bonus would probably be more like 25% of Cravath’s.

Yes. That would be tempting to me, but would prefer higher salary.

likehelpful

80 or 85% for those hours.

likehelpful

40-45 hours worked or billed? If billed, salary is too low

helpfullike

With remote work hours billed tracks a lot more closely to hours worked. Salary is too low for hours that are actually similar to cravath

helpful

This sounds like a good gig - is this ZwillGen?

likehelpful

I’m in Newport and have a well-educated guess.

like

Want to add - is there a 401k match? Is 100% of health insurance covered?

like

What’s the monthly premium?

As a recruiter, I would not work this role. I’ve worked roles that were - quite frankly - much more appealing from a monetary standpoint and struggled mightily to fill them. Slim to None chance you’ll be able to attract anyone from an AmLaw 30 by PPP firm.

likehelpful

Isn’t this also against your interest since you’d get less? I smell some bias here.

likesmart

If this came with respectable PTO, parental leave and very good health insurance (BCBS PPO, etc.), I think this would be very reasonable

likehelpful

Would be tempting for me. Automatically eligible for bonus?

helpful

Yes, but at a much lower tier. Something like 25% of Cravath levels.

I’ll start tomorrow.

funny

Promotion (counsel / partnership) prospects?

Short answer is yes, but the partnership model is different from BigLaw. There’s a good deal of profit sharing, but it’s nowhere near BigLaw PPP.

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