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Coach
“We’ll bill you out as a 7th year but want to pay you as a 6th”
Coach
FWIW at my firm they don’t bill out people that got held at a higher class
Coach
It is BS. They are trying to underpay you while either raising rates for clients or keeping them lower for more experience to keep clients happy. Firms have no problem making you wait for Partnership at final associate level
Subject Expert
Sounds like you’re in a crowded class year and others are either higher priority to promote or have stronger credentials for it, so instead of putting you up for promotion next to people you will lose to, they are having you wait until the others get promoted first.
That was what I thought as well.
Following. I’m in a similar circumstance, however, I’m currently trying to lateral and leave them
Same thing happened to me and I’m leaving for sure.
Mentor
This is a real concern for internal firm politics. There might be a lot of people in the class years above that the group needs to place and throwing you as the most junior in the mix might be not good for you and make their life harder at the same time.
That said, would not put it beyond some people to abuse a career plan and aspiration.
Subject Expert
Need more facts. What year are you. Was this message part of a lateral move? How big is the first? Did you hear it from a mentor/someone you trust, or was it an official message as part of your review? How did it affect your pay?
There are circumstances in which this message might be in your best interest. For example some firms put arbitrary limits on the number of partners it will make in a particular practice group in a particular year. If your year is loaded and the next year has fewer stars in it, waiting a year could be strategically beneficial.
Mentor
This is what I wanted to say and said very incompletely.
it is a signal. i had that happened to me once as an associate, it didn't stop them from increasing my bill rate.
Hmm interesting. Would be helpful to hear from partners in this bowl
You are not their priority - you will unlikely be invested
Coach
One way to test this is to ask for same comp as if you were not bump down via guaranteed bonus true up
Does anyone know if it is difficult to regain the class year position when lateraling?
It shouldn't be