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300x1800/3 = $180,000
I wouldn’t bother asking for a raise honestly. It won’t change your life at all, and hard to imagine you’ll ever get a raise commensurate with what it seems you might get at another firm. So just prep to switch, if money is the motive. Outsiders opinion, your judgment better than mine.
I disagree with this for a few reasons. First, I generally buy in to the 1/3 formula, but for NY market, you generally have to switch to 1/4. Second, the formula should be based on collections, not billable hours. Its about value generated for the firm, and as a first year, you are not bringing in your full billables. Third, deciding to walk knowing nothing other than what is posted is absurd.
Do you like your job? Is it a lockstep firm? Etc. Honestly, $125K for the numbers you posted is about right. If you go in to your meeting with this approach - say you are worth 1/3 your 1800 number, what happens when they tell you that they were only able to bill half your time to the clients? Or if they tell you to factor in partner level review?
At my firm it’s pretty small... maybe $2-4k?
AA1 sounds about right- slightly lower rate but higher billable requirement here and have received bumps of $5k the past two years but still relatively junior
Agree. I started in similar firm and received $5k after first year. How many attorneys in your firm? I was at at NYC firm with about 300+ attorneys