What are your expected billables and comp?
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After uploading documents in Bosch First Services one week ago, there was no update from them, when I replied to them via mail - They said we will get back to you.Is this sign of getting compensation breakup or they looking for other candidates.I have offer from CGI and only 3 days is remaining to accept.What should I do in this case?As CGI has said if you don't join after accepting offer we will blacklist you.
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No billable hour target at my firm and I don’t record time for flat fee matters, which represent most of my practice. So few recorded hours. Last year I generated $5m in collections and earned more than $3m based upon formula comp system.
No difficulty as partners are collegial and are paid for work collected on another partner’s matters.
1,900, which is silly, but also doesn’t matter because I routinely blow way past it. This year’s compensation? Probably about $1.5 million to $1.6 million based on my current shares, with a spitting shot of getting bonused up further in the compensation cycle. My own origination will likely come in somewhere between $3.5mm to $5mm (hard to say because Q4 revenue is usually the same size as Q1-Q3 revenue). I also share more credit with others than others share with me, so I drive more revenue than the numbers reflect. Revenue I manage (which is separate and in addition to revenue I originate) can fluctuate anywhere between $5mm and $12mm in a given year. Spending less and less time where I don’t get origination credit because it doesn’t matter as much as origination (but it does help to build future origination credit).
What type of practice? Years of experience?
Target is 1800. Comp is $200k (salary, NEP).
Yes, but it’s “discretionary” so very black box, which is unfortunate.
I do not have expected billables. Comp is $400k to $600k - depending on firm profits.
Good for you guys, that's terrific. Takes and shows trust.
I’m an equity partner and on track to bill $2.9M this year and budgeted comp is $1.1M plus a percentage of profits (likely another $150k if we stay ahead of budget). Average billings over last 3 years are approximately $2M per year.
Edit: Hourly target is 1,500 hours.
Less than the estimated comp. 1500 hours translates to approx $800k, but traditionally I’ve blown past that to something between 1700-1900 hours.
2100hrs annual requirement 200k per year comp
Collecting more than $250/hour?
1,900 hours is the unofficial expectation. I’ll hit that with about $300k in originations. Comp is about $215k-$240k. Feels like I’m underpaid bc comp is a black box.
How much is being collected on the 1,900?
No hours requirement, it’s all about collections and crediting. I am working a ton right now though.
Will bring in $2.6M under my “credit”, $950k working.
I’m a first year equity partner, AM law 90-ish. My base salary is $450k, total comp will be around $700k with profit share and bonus, and I’m going to be arguing for a salary bump.
Was an NEP last year with about half the collections
Curious, how much of the work would walk out the door with you? If more than 60%, I would expect a decent reception to the push for more salary
I am a NEP. I do not have any official expected billables, but I cannot imagine falling below 500k in collections.
I roughly shoot for 600-700k in collections. From that, I will personally get about 250k.
I do patent prosecution and counseling.
Equity partner with small piece of the pie -1800 hours - $125k base + 60% of collections after 300k + 2.5% of firm profits.
CRE equity partner -$600k revenue - $500k originations - no hours expectation - $175k salary - $50-$150k bonus based on revenue/origination/firm profits. Lifestyle is great but am I underpaid? 20 years experience
1500 on average.
No hours requirement, but our system encourages working collections (we call those timekeeper dollars). Comp ranges are huge and not hours based in any way - focus is on dollars collected.