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I am currently interviewing at TikTok for the Content Partnerships Lead role. Can anyone share some insight into the salary bands in the Sub-Saharan African market? Should I benchmark with the global rates?
Any tips and experiences interviewing in this region are also welcome - and highly appreciated! :)
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Depends really, really heavily. Firms that operate on a contingency fee is a pretty far a varied firm. But rough outline:
1) a lot of firms on contingency are just making a lot less per lawyer, some run a bit of a burn in churn model only making enough for the top handful of equity partners to really make bank (more on that below.)
2) some high end plaintiffs firms work on contingency and do pay market or close to market, although year to year comp is usually more varied with you base comp being below market and a much larger bonus. Also mid-level at high end plaintiffs shops due tend to make below market.
3) Top contingency equity partners make bank. Even at some of the burn and churn type place you can make a lot, but the equity partners at a lot of the high end plaintiff shops are making more then most equity biglaw partners (except maybe tippy top rainmakers). So yea. Eventually you can end up making more. But remember there's really not a lot of lawyers in that position in the country. Not necessarily a realistic goal. Between junior partner and equity there are too many variables, but again, at that top shops I think the pay gap is less significant.
Very helpful! Thank you for that informative response!
Because they don’t have a steady monthly income. So basically they’re going to be cautious about what their monthly expenses are. If you want to succeed long term at those places you need to generate cases, then you can do really well.
Generally true at small firms, not so at bigger contingency firms.
The simplest answer is because they can. The market is different. First off, most contingency firms have almost no place for first, second, or third year associates. They don’t know anything yet and it’s too expensive and timely to train. So by definition most associates who come to contingency firms are leaving something they didn’t like—like insurance defense or even big law. That means they’re willing to get paid less to do something they like more. Second, most contingency firms have a decent bonus structure so if you crush it you can still make good money. Third, the potential is enormous. Most contingency firms have at least one person who is killing it and the associate wants to learn from her/him and is willing to take a pay cut to do it in the hopes on one day being just like that. Then there’s the “cult” factor. The contingency world is filled with eccentric personalities and is made up of a group of people who really have accomplish incredible things and for the most part have beaten the odds. Big verdicts are like getting lightning in a bottle and people want to be near that kind of energy.
Can you elaborate on the “burn and churn type place”? Does that exist in the biglaw world too?
No (at least I don't think, not in the way that I mean it.)
Burn and churn for a plaintiff shop is someplace bringing a shit ton of cases without really trying to craft great complaints or pick good cases to push through a lot of smaller settlements and maybe hit it big sometimes. Man power intensive so you're never going to really make enough to pay all your associates market. But profitable enough for the equity partnership to still grab a healthy cut especially with a big haul every few years.
Biglaw kind of burn and churns man power wise with the up and outmodel, but thats not really what I'm talking about.