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[quote=Anonymous]This seems like a question of priorities and trade offs, which only you can answer.  I also left Big Law for a small firm and I haven't looked back.  I'm not sure there's anything my old firm could do to entice me to come back.  Pay now is less, but so are my hours and it is very flexible.  I have my own practice and clients, so have a lot of freedom to manage my own practice as I wish.  I can't imagine heading back into the land of red tape, bureaucracy and ***holes.

If I were you, I'd be strongly inclined to figure out how I could make things at the current firm work.  If you do the same things at the small firm that you'd need to do to have a realistic change at equity in the V10 firm, will that increase your small firm pay to some middle ground?  Or will you only have those opportunities at the small firm?  If you have your own clients, you have more stability and predictability where you are now, but you probably know that.  Building up a practice at a V10 firm is a very iffy proposition.  It might work, it might not and you don't know how long the firm will be willing to invest in it.  Or they could they could bring in some big shot muckety-muck and throw a bunch of money at him in a way that leaves you on the outside.  [/quote]

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