Naive poster here. How does 1300 hours of business development not translate into more billable hours of work? Do those hours create the work OP is calling “managing credits”? Does that mean OP brought in the work but she’s not doing the actual work and has handed it off to someone else to actually do, but gets a piece of that action?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:no you won't be paid more anywhere else. if you are making 600-700 on a million book, hold on for dear life.

He's a third year partner/ His pay should not in any way be related to his "book." If it is you are at the wrong firm.

If you are at a firm paying you as much as you bring in, run. Its lack of conservatism will put the partnership at risk.

It all depends on the firm. It can be more based on the group as a whole or the firm as a whole. I brought in nothing and was paid $2 million. Why? I oversaw more than $25 million in revenue a year from several matters. Some came from other partners but other work just came to the firm because of prior relationships or rep. There were six other partners on those matters. Two that generated some of the work and four that were junior and was paid less.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Recruiter here - no. Stay where you are unless there's a real platform issue.

Last person to listen to on a question like this is a recruiter -- they do not know how to handle or value partners that are new or with smaller books. Having said that I agree unless -- you have a specialty or skills/track record to move up to a better firm. A much higher tier firm would likely be paying you $1 million or more. But you have to have something to make them want you and they have to need what you have. And you will have to perform once there. Could be better to stay but you may have options.

LOL. No firm is going to pay a guy bringing in $1M that $1M.

OP, bring in more business, then leave.

There are plenty of firms that would pay over $1 million for someone with no business -- if there was the need in the space they were in or the potential. The going rate for a service partner at one of the top firms with little business is $1.5 million. That does not translate as you go down the pecking order of firms.

Equity partner here at top 30 amlaw firm. I sit on our compensation committee, so I well know how we'd approach you. Long story short--you are paid absolutely fine where you are, and it sounds like you have a good gig. This is too small a book to try to leverage up as a lateral, and you need to focus on your billable hours.

1. At my firm, we'd be beating you up based on your hours. 1500 billables is categorically insufficient for a book that small. We expect our non-equity partners to be billing at least 2k/year. 1800 or 1900 might be acceptable, but not great. 1500 gets you put on a watch list to be exited. So if you did that here--2800 hours notwithstanding--you'd be in jeopardy.

The 1300 BD is nice, but apparently not that effective if you are only bringing in 1mm originations. We'd tell you to bring that way back, and to guarantee 2k billables.

2. What effective rate are you getting on that 1mm? Unless you can get the effective rate on your own time north of 1450 or so, that business won't be that attractive in any event.

3. If you were a homegrown IP on our platform, I'd likely pay you 600 to $650k, and give you a stern lecture to get your billables up.

4. If you billed 2k hours + originated $1mm collections, I'd pay you 850k to 900k, perhaps more.

In all, your comp sounds fair and your firm generous. If you want to step up the practice, you absolutely can--but start by maxing your billable hours. Just my two cents.

Anonymous wrote:

Anonymous wrote:no you won't be paid more anywhere else. if you are making 600-700 on a million book, hold on for dear life.

He's a third year partner/ His pay should not in any way be related to his "book." If it is you are at the wrong firm.

If you are at a firm paying you as much as you bring in, run. Its lack of conservatism will put the partnership at risk.

Anonymous wrote:

Anonymous wrote:Recruiter here - no. Stay where you are unless there's a real platform issue.

Last person to listen to on a question like this is a recruiter -- they do not know how to handle or value partners that are new or with smaller books. Having said that I agree unless -- you have a specialty or skills/track record to move up to a better firm. A much higher tier firm would likely be paying you $1 million or more. But you have to have something to make them want you and they have to need what you have. And you will have to perform once there. Could be better to stay but you may have options.

LOL. No firm is going to pay a guy bringing in $1M that $1M.

OP, bring in more business, then leave.

Anonymous wrote:no you won't be paid more anywhere else. if you are making 600-700 on a million book, hold on for dear life.

He's a third year partner/ His pay should not in any way be related to his "book." If it is you are at the wrong firm.

Anonymous wrote:Recruiter here - no. Stay where you are unless there's a real platform issue.

Last person to listen to on a question like this is a recruiter -- they do not know how to handle or value partners that are new or with smaller books. Having said that I agree unless -- you have a specialty or skills/track record to move up to a better firm. A much higher tier firm would likely be paying you $1 million or more. But you have to have something to make them want you and they have to need what you have. And you will have to perform once there. Could be better to stay but you may have options.

Recruiter here - no. Stay where you are unless there's a real platform issue.

Anonymous wrote:no you won't be paid more anywhere else. if you are making 600-700 on a million book, hold on for dear life.

This.

no you won't be paid more anywhere else. if you are making 600-700 on a million book, hold on for dear life.

You are billing 1500 and doing 1300 business development? And getting paid 600-700k?

What's "managing credits?" If it's not portable it doesn't count.

3rd year non-equity partner making between $600-$700K at a firm that is in the bottom 100 in the V100 firms. Book of business is around $1 million (individually) and managing credits around $3 million. Would it be possible to move over to a higher ranked firm and make more money? Pretty sure the firm I am at is paying way below market. Billing around 1500 hours a year and additional business development hours for an all in around 2800 hours.