Negotiating Raise - How to Assess Market Value (Small Law)

[Anonymous]

I have been at a small law firm with a niche practice for over a year. I am 10 years out of law school, but didn't practice for 5 of those years (3 in a related field - business side, and 2 spent with kids at home). This practice area is new for me - one I had been trying to transitioning when I was a junior associate, but it didn't happen then.

The firm has my Virginia office and another office in a major metro area and we do national financial work. I had to sit for the VA bar in February - and passed.

Overall, I am happy with the gig. I was hired at a reasonable salary, and was given a small bump and nominal bonus after being there three months.

I am trying to assess how much of a raise and bonus I should be asking for / expecting. I have performed well, I have passed the bar, and I expect to hit billables.

Unfortunately, I did not talk salary structure when hired - looking back, I was grateful for the opportunity and didn't want to rock the boat (typical female approach???).

The firm is not "lockstep" because it is so small. How should I go about this?

[Anonymous]

Can you get close with other associates and get a ball park idea on salary. Maybe ask what straight out of law school makes? You can surely ask in review process about average raises and whether you are in line with others. Try and make friends though with people at work. I had a friend join small law in VA and made 100k out of law school with 5k bonus.

[Anonymous]

Anonymous wrote:Can you get close with other associates and get a ball park idea on salary. Maybe ask what straight out of law school makes? You can surely ask in review process about average raises and whether you are in line with others. Try and make friends though with people at work. I had a friend join small law in VA and made 100k out of law school with 5k bonus.

Currently, I'm the only full time associate at my office! There are a few partners, and then more associates and partners in our other metro office.

What practice area was your friends firm?

[Anonymous]

hard to answer without knowing what you make now, op.

actually, it will be hard to answer even then. small firms are all over the map. i worked for a solo when i started out, who hired me at 60k. my first raise was to 78k, then to 98k, then to 120k. very atypical, probably, but small firms often aren't typical.

[Anonymous]

Anonymous wrote:hard to answer without knowing what you make now, op.

actually, it will be hard to answer even then. small firms are all over the map. i worked for a solo when i started out, who hired me at 60k. my first raise was to 78k, then to 98k, then to 120k. very atypical, probably, but small firms often aren't typical.

OP here - I make $175K. Started at $170K a year ago, received a $5K bump at end of 2016 and got a $5K bonus.

[Anonymous]

probably a fairly similar raise to last year - maybe 7k bump and 7-10k bonus?

[Anonymous]

Anonymous wrote:probably a fairly similar raise to last year - maybe 7k bump and 7-10k bonus?

I only worked there for 3 months in 2016. Do you think it makes sense to expect / ask for a 4x bump for 2017?

[Anonymous]

Anonymous wrote:

Anonymous wrote:probably a fairly similar raise to last year - maybe 7k bump and 7-10k bonus?

I only worked there for 3 months in 2016. Do you think it makes sense to expect / ask for a 4x bump for 2017?

Yes. 4x the bump and 4x the bonus if they are a competitive firm you should be getting market bumps and bonuses

[Anonymous]

Anonymous wrote:

Anonymous wrote:hard to answer without knowing what you make now, op.

actually, it will be hard to answer even then. small firms are all over the map. i worked for a solo when i started out, who hired me at 60k. my first raise was to 78k, then to 98k, then to 120k. very atypical, probably, but small firms often aren't typical.

OP here - I make $175K. Started at $170K a year ago, received a $5K bump at end of 2016 and got a $5K bonus.

Wow! May I ask what area of practice you are in? I interviewed with a handful of small firms a few years ago and the salaries were MUCH lower than 170k.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:hard to answer without knowing what you make now, op.

actually, it will be hard to answer even then. small firms are all over the map. i worked for a solo when i started out, who hired me at 60k. my first raise was to 78k, then to 98k, then to 120k. very atypical, probably, but small firms often aren't typical.

OP here - I make $175K. Started at $170K a year ago, received a $5K bump at end of 2016 and got a $5K bonus.

Wow! May I ask what area of practice you are in? I interviewed with a handful of small firms a few years ago and the salaries were MUCH lower than 170k.

Yup, interested in hearing as well. I'm assuming this wouldn't be the stereotypical "sh*tlaw" such as traffic/personal injury practice. Am I wrong to guess that this an area that actually has presence in Biglaw but your firm just specializes in the lower net wealth clients cause of the firm's billables?

[Anonymous]

This can't be a typical shitlaw firm - they can't justify paying people that kind of money, nor would they need to.

The firm is likely a "boutique" servicing smaller to midsize businesses in a biglaw practice area. OP said the firm does "national financial work," but I'm not sure what that means.

[Anonymous]

I thought the general rule was to take your annual collections and divide it by 3. That 1/3 should include your salary and benefits so if you know approximately how much your insurance costs the firm you'll have a ballpark of what your salary should be.