Spin-off post - Big law Partners and how much $$ it would take for you to move in house

[Anonymous]

How much $$$ is enticing enough to give up the big law firm partner grind and all that comes with it (biz dev, billables, etc).

In house roles are a mix of base/bonus/equity so keep that in mind.

Assume better QOL generally in house.

Would $1 Million all in be enough? Less/more?

[Anonymous]

Depending on the role and hours, I’d do it for $450k.

[Anonymous]

Anonymous wrote:Depending on the role and hours, I’d do it for $450k.

+1. Absolutely!

[Anonymous]

Knowing what you know now (assuming you are a profit-sharing big law partner), would you have skipped that path and gone in-house for $450K?

[Anonymous]

Anonymous wrote:Knowing what you know now (assuming you are a profit-sharing big law partner), would you have skipped that path and gone in-house for $450K?

My DH has toggled back and forth between big law and in house. A well-paid in-house job that is stable and comfortable is the best of all worlds. The problem is that they are hard to find. So yeah, if a good one is dropped in your lap, take it. But you never know when the company is going to sell, or have a leadership change or hit hard times or whatever. He is currently back at BigLaw after a series of less than ideal in house jobs.

[Anonymous]

Anonymous wrote:Knowing what you know now (assuming you are a profit-sharing big law partner), would you have skipped that path and gone in-house for $450K?

I can speak from the consulting (closest cousin) side of things. I transitioned from a partnership position to "in house", and my quality of life is immeasurably better despite the decrease in comp. In my previous role, I felt trapped and envied people who weren't hustling/bidding/delivering/worrying 24/7 (and knowing that each year performance metrics reset at 0). It was a miserable way to live.

[Anonymous]

Bumping! Given the # of big law PPs on the board, I think we can get a few more responses!

Otherwise we will assume that no amount is sufficient to get you off the partner train

[Anonymous]

Anonymous wrote:Bumping! Given the # of big law PPs on the board, I think we can get a few more responses!

Otherwise we will assume that no amount is sufficient to get you off the partner train

I already posted - agreeing that $450k was enough for the right job. But we live well beneath our means and have tons of savings. Many BigLaw partners work hard and play hard and spend like the money will always be there. One we know is in the process of divorcing. Apart from their two (mortgaged homes) they have virtually no assets to divide and he is going to pay the ex $500k/year in alimony. He will have to work until he dies. He even says "I have no idea where the money goes."

[Anonymous]

I’m a mid career fed attorney advisor looking at in house roles and the base salary posted all are around $150-200k. What does that mean for total package?

[Anonymous]

Anonymous wrote:I’m a mid career fed attorney advisor looking at in house roles and the base salary posted all are around $150-200k. What does that mean for total package?

This salary range suggests it’s a corporate counsel position requiring 3-5 years experience. I’m guessing 15-20% bonus and possibly some small amount of equity but possibly not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’m a mid career fed attorney advisor looking at in house roles and the base salary posted all are around $150-200k. What does that mean for total package?

This salary range suggests it’s a corporate counsel position requiring 3-5 years experience. I’m guessing 15-20% bonus and possibly some small amount of equity but possibly not.

My experience is that it’s very rare to get equity at a low level like that. Most companies don’t do equity until senior counsel or managing counsel levels.

[Anonymous]

Anonymous wrote:I’m a mid career fed attorney advisor looking at in house roles and the base salary posted all are around $150-200k. What does that mean for total package?

A $200k base probably means $240-$250k all in. Like I said above, in-house jobs that pay $450k+ exist but they are few and far between.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’m a mid career fed attorney advisor looking at in house roles and the base salary posted all are around $150-200k. What does that mean for total package?

A $200k base probably means $240-$250k all in. Like I said above, in-house jobs that pay $450k+ exist but they are few and far between.

That’s not true. There are plenty of them, but they are not for lawyers with only 3-5 years experience. Many senior counsels (12+ year experience) and virtually all managing counsels and above at large companies will make $450k plus once long incentives kick in.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m a mid career fed attorney advisor looking at in house roles and the base salary posted all are around $150-200k. What does that mean for total package?

A $200k base probably means $240-$250k all in. Like I said above, in-house jobs that pay $450k+ exist but they are few and far between.

That’s not true. There are plenty of them, but they are not for lawyers with only 3-5 years experience. Many senior counsels (12+ year experience) and virtually all managing counsels and above at large companies will make $450k plus once long incentives kick in.

You misunderstand, I said those jobs exist. But they are hard to get, even with the right amount of experience. There is usually 1-2 attorneys per company making over that amount. Obviously huge companies might have a handful making that. But so much of the legal work is outsourced to…wait for it…law firms.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m a mid career fed attorney advisor looking at in house roles and the base salary posted all are around $150-200k. What does that mean for total package?

A $200k base probably means $240-$250k all in. Like I said above, in-house jobs that pay $450k+ exist but they are few and far between.

That’s not true. There are plenty of them, but they are not for lawyers with only 3-5 years experience. Many senior counsels (12+ year experience) and virtually all managing counsels and above at large companies will make $450k plus once long incentives kick in.

You misunderstand, I said those jobs exist. But they are hard to get, even with the right amount of experience. There is usually 1-2 attorneys per company making over that amount. Obviously huge companies might have a handful making that. But so much of the legal work is outsourced to…wait for it…law firms.

I understood fine and you are wrong. I work at a company with about 75 in house lawyers. Roughly 80% of them are making $450k or more (at least in years when the company and stock are doing well).