Law Partner Salary

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Venable profits per partner is about $1.4 million. Troutman is about $1.9. Of course, this is equity, not NEP.

So do u get profit per partner as compensation? Not sure what NEP is?

That’s what the average equity partner brings home. Profits are the compensation (usually there’s a monthly draw and then a big “bonus” EOY). Non equity partner isn’t a real partner. They’re paid a salary and bonus. There’s much less transparency around non equity partner pay.

yep, at some firms like Kirkland NEP is just what they make 8th+ year associates.

What are they making as a percentage of collections? Are they working 2200 hours a year?

Kirkland actually promotes to NEP at year 6 or 7.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Range is really enormous. For NEP in AmLaw 50-100, typical range would be between $250 and $800, depending on a lot of factors including specialty. For equity, range is even wider, from $300 to many millions. It's really difficult to identify a typical example, but say a replacement level 30 year attorney in a litigation practice at a AmLaw 60-90 firm with average originations would be in the range of $800K to $1.5m.

I don’t understand how the range could possible go that low for NEPs. 250 is literally $1000 LESS than a first-year associate makes.

Less than a 1st year associate makes at Cravath-scale firms. A lot of firms in the lower Amlaw 100 do not pay on that scale - and it makes sense that they don’t because they don’t have the rates/PPP that support it. Also that 250 is likely just the base- it could easily double or more based on originations.

[Anonymous]

Anonymous wrote:

Anonymous wrote:DH is $1.3-4 for a lower-lucrative practice, bills less than 1500.

International tax law?

There were partners like this at my firm too. Not many. And they didn’t get much respect. If the whole partnership did this the firm would fall apart.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is $1.3-4 for a lower-lucrative practice, bills less than 1500.

International tax law?

There were partners like this at my firm too. Not many. And they didn’t get much respect. If the whole partnership did this the firm would fall apart.

LOL, he brought in $8M+ last year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is $1.3-4 for a lower-lucrative practice, bills less than 1500.

International tax law?

There were partners like this at my firm too. Not many. And they didn’t get much respect. If the whole partnership did this the firm would fall apart.

LOL, he brought in $8M+ last year.

Well, you are following the very typical DCUM rule of burying the lead. Of course, if you bring in that much business you can get away with billing 1500 a year for 1.4 million. But it also begs the question: How much time is he spending on business development? He’s not sitting back around doing nothing while $8 million a year pours in. So something is amiss. In other words, you’re a little full of shit about something.

Let me guess: he works downtown and lives in the suburbs and leaves for work around 8 or 9 but magically for him his commutes only 15 minutes. Right?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Range is really enormous. For NEP in AmLaw 50-100, typical range would be between $250 and $800, depending on a lot of factors including specialty. For equity, range is even wider, from $300 to many millions. It's really difficult to identify a typical example, but say a replacement level 30 year attorney in a litigation practice at a AmLaw 60-90 firm with average originations would be in the range of $800K to $1.5m.

I don’t understand how the range could possible go that low for NEPs. 250 is literally $1000 LESS than a first-year associate makes.

Less than a 1st year associate makes at Cravath-scale firms. A lot of firms in the lower Amlaw 100 do not pay on that scale - and it makes sense that they don’t because they don’t have the rates/PPP that support it. Also that 250 is likely just the base- it could easily double or more based on originations.

If 250 is just base that’s totally different. The discussion here is total comp.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is $1.3-4 for a lower-lucrative practice, bills less than 1500.

International tax law?

There were partners like this at my firm too. Not many. And they didn’t get much respect. If the whole partnership did this the firm would fall apart.

LOL, he brought in $8M+ last year.

Well, you are following the very typical DCUM rule of burying the lead. Of course, if you bring in that much business you can get away with billing 1500 a year for 1.4 million. But it also begs the question: How much time is he spending on business development? He’s not sitting back around doing nothing while $8 million a year pours in. So something is amiss. In other words, you’re a little full of shit about something.

Let me guess: he works downtown and lives in the suburbs and leaves for work around 8 or 9 but magically for him his commutes only 15 minutes. Right?

I’m not burying the lede, I answered the question in the OP. I added that info when you wrongly stated someone like that would be a drain on the firm, when in fact, he’s penalized for not actually billing more—a choice he makes. I don’t know why you need a breakdown of his business development versus his billable hours versus his commute to believe it, but IDC if you do or not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is $1.3-4 for a lower-lucrative practice, bills less than 1500.

International tax law?

There were partners like this at my firm too. Not many. And they didn’t get much respect. If the whole partnership did this the firm would fall apart.

LOL, he brought in $8M+ last year.

Well, you are following the very typical DCUM rule of burying the lead. Of course, if you bring in that much business you can get away with billing 1500 a year for 1.4 million. But it also begs the question: How much time is he spending on business development? He’s not sitting back around doing nothing while $8 million a year pours in. So something is amiss. In other words, you’re a little full of shit about something.

Let me guess: he works downtown and lives in the suburbs and leaves for work around 8 or 9 but magically for him his commutes only 15 minutes. Right?

I’m not burying the lede, I answered the question in the OP. I added that info when you wrongly stated someone like that would be a drain on the firm, when in fact, he’s penalized for not actually billing more—a choice he makes. I don’t know why you need a breakdown of his business development versus his billable hours versus his commute to believe it, but IDC if you do or not.

The commute question was sarcastic. I assumed you’d underestimate that too.

My point is that he’s not working 9 to 5 putting in 1500 hours and generating $8 million in collections. His working harder than that. He’s just not billing all the time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is $1.3-4 for a lower-lucrative practice, bills less than 1500.

International tax law?

There were partners like this at my firm too. Not many. And they didn’t get much respect. If the whole partnership did this the firm would fall apart.

LOL, he brought in $8M+ last year.

Well, you are following the very typical DCUM rule of burying the lead. Of course, if you bring in that much business you can get away with billing 1500 a year for 1.4 million. But it also begs the question: How much time is he spending on business development? He’s not sitting back around doing nothing while $8 million a year pours in. So something is amiss. In other words, you’re a little full of shit about something.

Let me guess: he works downtown and lives in the suburbs and leaves for work around 8 or 9 but magically for him his commutes only 15 minutes. Right?

I’m not burying the lede, I answered the question in the OP. I added that info when you wrongly stated someone like that would be a drain on the firm, when in fact, he’s penalized for not actually billing more—a choice he makes. I don’t know why you need a breakdown of his business development versus his billable hours versus his commute to believe it, but IDC if you do or not.

The commute question was sarcastic. I assumed you’d underestimate that too.

My point is that he’s not working 9 to 5 putting in 1500 hours and generating $8 million in collections. His working harder than that. He’s just not billing all the time.

I never said we eat dinner at 5:30. 😉 Add a couple hours, occasional work trips, or long days or a weekend and you’ll get there.

[Anonymous]

I also said he doesn’t bill 1500 hours.