Employment Offer Question

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Anonymous User
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Employment Offer Question

Postby Anonymous User » Sun Dec 03, 2017 7:31 pm

I received an offer from a small firm. I met with the main partner last Wednesday and we discussed general perameters. She emailed me this morning and summarized the offer as follows:

This would be a salary position at the starting rate of $2,692.31 bi-weekly, with an additional incentive of ten percent (10%) of the collected fee, of all hourly billing generated by you. Likewise, additional benefit of legal malpractice insurance, continuing education, office and support staff would be made available to you.

The bolded and underlined portion has me a bit confused. Based on my discussions with her last Wednesday, I got the feeling that the incentive was 10% for receipts on hours billed by me, no matter who originated the client. However, I think the verb "generated" is quite vague, and could be read to only include collected fees on hours originated (i.e., my own clients) by me.

I assume this is vague enough to seek clarification from the partner, but I'm just curious how the board interprets this.

Anonymous User
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Joined: Tue Aug 11, 2009 9:32 am

Re: Employment Offer Question

Postby Anonymous User » Sun Dec 03, 2017 7:47 pm

I don't read this as origination, but just your hours that are billed and paid (i.e., not billable, but billed and actually collected).

That said, you should absolutely ask questions of the firm until you understand fully. If you don't want to nag the partner, see if their recruiter or HR, or one of the associates you met (who are presumably under the same system) know.

foregetaboutdre

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Re: Employment Offer Question

Postby foregetaboutdre » Sun Dec 03, 2017 8:48 pm

Anonymous User wrote:I received an offer from a small firm. I met with the main partner last Wednesday and we discussed general perameters. She emailed me this morning and summarized the offer as follows:

This would be a salary position at the starting rate of $2,692.31 bi-weekly, with an additional incentive of ten percent (10%) of the collected fee, of all hourly billing generated by you. Likewise, additional benefit of legal malpractice insurance, continuing education, office and support staff would be made available to you.

The bolded and underlined portion has me a bit confused. Based on my discussions with her last Wednesday, I got the feeling that the incentive was 10% for receipts on hours billed by me, no matter who originated the client. However, I think the verb "generated" is quite vague, and could be read to only include collected fees on hours originated (i.e., my own clients) by me.

I assume this is vague enough to seek clarification from the partner, but I'm just curious how the board interprets this.


I didn't read it as origination either, but I would ask. It seems pretty generous for a small firm if not origination.

65k base and lets say you have 1,500 billed and collected and they bill you @ $200 then you'd be looking at $30,000 on top of this at around $95,000 per year (if my math is right).

If you're in NYC that may be the case, but out in flyover land it might not be.



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