Boutique law firm salary?

[Anonymous]

There is so little transparency out there re: salaries and I'm trying to figure out what to ask for and whether to negotiate if offered a job. Does anyone know the salary range for a non-equity partner at a DC litigation boutique? Coming from government and this is all so new.

[Anonymous]

Anonymous wrote:There is so little transparency out there re: salaries and I'm trying to figure out what to ask for and whether to negotiate if offered a job. Does anyone know the salary range for a non-equity partner at a DC litigation boutique? Coming from government and this is all so new.

this is very hard to pin down because practice areas vary and firms vary. There are a LOT of factors that go into salary calculation.

I assume you are talking about an associate job?

I would try to think of it in terms of revenue. you should be making somewhere around 1/3 of your expected revenue in salary.

So if your expected revenue (that is, actually collected, not just billed) is around 300K, then 100K would be a reasonable salary, with standard benefits paid by the firm. This helps the firm pay for administrative expenses and gives them some profit.

If your revenue exceeds this number, then you could ask for a bonus based upon those numbers.

To get this number you have to have some insight as to your billing rate as well as the recovery rate from the firm's clients. This is really closely held information that you are not likely to have without some experience in the field.

If your revenue consistently beats this target then you can ask or your salary to be readjusted.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There is so little transparency out there re: salaries and I'm trying to figure out what to ask for and whether to negotiate if offered a job. Does anyone know the salary range for a non-equity partner at a DC litigation boutique? Coming from government and this is all so new.

this is very hard to pin down because practice areas vary and firms vary. There are a LOT of factors that go into salary calculation.

I assume you are talking about an associate job?

I would try to think of it in terms of revenue. you should be making somewhere around 1/3 of your expected revenue in salary.

So if your expected revenue (that is, actually collected, not just billed) is around 300K, then 100K would be a reasonable salary, with standard benefits paid by the firm. This helps the firm pay for administrative expenses and gives them some profit.

If your revenue exceeds this number, then you could ask for a bonus based upon those numbers.

To get this number you have to have some insight as to your billing rate as well as the recovery rate from the firm's clients. This is really closely held information that you are not likely to have without some experience in the field.

If your revenue consistently beats this target then you can ask or your salary to be readjusted.

Thanks. It's a non-equity partner position.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is so little transparency out there re: salaries and I'm trying to figure out what to ask for and whether to negotiate if offered a job. Does anyone know the salary range for a non-equity partner at a DC litigation boutique? Coming from government and this is all so new.

this is very hard to pin down because practice areas vary and firms vary. There are a LOT of factors that go into salary calculation.

I assume you are talking about an associate job?

I would try to think of it in terms of revenue. you should be making somewhere around 1/3 of your expected revenue in salary.

So if your expected revenue (that is, actually collected, not just billed) is around 300K, then 100K would be a reasonable salary, with standard benefits paid by the firm. This helps the firm pay for administrative expenses and gives them some profit.

If your revenue exceeds this number, then you could ask for a bonus based upon those numbers.

To get this number you have to have some insight as to your billing rate as well as the recovery rate from the firm's clients. This is really closely held information that you are not likely to have without some experience in the field.

If your revenue consistently beats this target then you can ask or your salary to be readjusted.

Thanks. It's a non-equity partner position.

Right. Non-equity partner. Aka associate, but too much pride to take a position with that title.

[Anonymous]

Non-equity partner might mean the following thing: No subsidy for firm health insurance so very high premiums for your family. Taxes in other states if this firm has offices in multiple firms. Not every firm has the same set up, but it is worth looking into to ask for higher compensation to make up for this.

[Anonymous]

Is it niche and prestige or just small?

[Anonymous]

I am considering the similar switch (nonprofit to a firm, in-house to NE partner). If you have any friends, neighbors, etc who are partners in law firms, ask their advice. I found that the most helpful person to me was a recently retired firm managing partner who happens to be my neighbor. There are many variables that I didn't really know about (ie billing recovery rates, compensation structure, etc). This is a good article that hits on some key aspects, but you will need to talk through any offer with someone who is well versed in law firm compensation.

https://www.mlaglobal.com/en/insights/articles/so-they-offered-you-non-equity-partner

[Anonymous]

Anonymous wrote:There is so little transparency out there re: salaries and I'm trying to figure out what to ask for and whether to negotiate if offered a job. Does anyone know the salary range for a non-equity partner at a DC litigation boutique? Coming from government and this is all so new.

Expect to pay the entire premium for health insurance. Can be expensive. Best situation is if you have a working spouse who can add you to his/her health insurance plan as a dependent.

Expect to pay full FICA tax.

Expect to pay other taxes that the law firm faces.

[Anonymous]

Ask if you will be expected / required to make a capital contribution now and/or in the future.

Ask & examine whether being a non-equity partner is better for your situation than being "of counsel" (essentially a permanent senior associate).

If expected to bring in clients and continue existing client relationships, then the title of partner is important.

Ask to which type of expenses you will be required to contribute.

[Anonymous]

OP here. This is all so useful. Thank you so much!

[Anonymous]

+1 on asking about health insurance. I was at a firm long ago, but back then the NE partners complained about how they weren't making more than senior associates because of the cost of health insurance.