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I just graduated from a good law school and am about to look for a first year associate job. Based on my contacts from my previous career I expect to bring in TONS of well-paying new clients. Are there any type of arrangements that are customary in these types of situations? Perhaps a bonus or shorter partner track? I don't want to be too demanding when I negotiate my salary, but I don't want to sell myself short either.
Thanks much in advance. |
| Troll. |
| Ger hired THEN bring in the clients. You don't need to talk it up, just do it. Your reward will be that you are picked to become a partner eventually and not kicked to the curb like so many in your cohort will be. |
| Depends on the type of firm and the way that the billing is arranged. My husbands gets a higher percentage of his billing rate for clients that he brings on himself. |
OP here. Great tip, thanks much! |
| If you're going to a biglaw firm, I doubt they'll offer this. You'd just have to handle it on a case-by-case basis. |
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OP here. Thanks, but no biglaw for me.
What percentage should I ask for? |
| More likely you'll bring clients in then partners will do their darnedest to steal them from you and make your life so miserable that you want to quit. |
| If you have so many clients, why not start your own firm? |
| My small firm gives a percentage of the fee 40% or 50% and fronts the costs on those clients' cases. We don't get to count our clients' hours in our billables. |
OP here. I don't want to start my own law firm because sole practitioners are not taken as seriously. |
that's nuts (not counting your own clients' hours in your billables)....
the partners are really taking advantage in that case, imo (making you, in effect, do your own clients' work at the expense of making you work even harder to make the firm's billable quota -- that is absurd imo). |
New lawyers should never be solo practioners unless maybe if they have a dedicated mentor. It is irresponsible to clients, since law school does not actually teach you to be a lawyer. |
| Ah, to be a baby lawyer.... Just learn to be a good attorney. Nobody will actually hire you - neither firms nor clients - despite close relationships until you do. Get over yourself and learn your place, then grow balls, but not yet, kid. |
| If you really think you will bring in clients, then like any other form of compensation, this is something to bring up after you get your offer. Small firms are not homogeneous, so you should just put what you want on the table. Note that partners also take on a lot of risk at small firms - so you can't expect to get partner-level compensation if you have no skin in the game. But a percentage of billings for clients you bring in sounds reasonable. |