Salary vs. Billing Statistics Thread

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Salary vs. Billing Statistics Thread

Postby Anonymous User » Fri Feb 09, 2018 1:21 am

This thread may be helpful to people. The purpose is to collect information that can be used for salary comparison, self performance evaluations and firm comparisons. Please list:

Mandatory
1. Firm name or type (V10, AmLaw 50, Mid Law, Etc.)
2. Class year
3. Billing Rate
4. Hour Requirement

Optional
5. Fees billed
6. Fees collected
7. Bonus information

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Fri Feb 09, 2018 10:46 am

1. V100
2. 2012
3. $450
4. 1800

Billed 1667, Salary $188k

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Fri Feb 09, 2018 11:37 am

May want to add market to the OP.

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Fri Feb 09, 2018 11:43 am

V100 (NYC)
2016
$500
2,000

Billed 1800, Salary $180,000

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Fri Feb 09, 2018 11:45 am

V100 (NYC)
2016
$500
2,000

1,800 hours billed; $180,000 salary

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Fri Feb 09, 2018 2:07 pm

V25, Secondary Market, Litigation
Class of 2013
$715/hr. this year, $660 last year
1800 requirement

Last year: Billed just over 2200, made $300,000 (NY market salary and bonus). Looks like revenue from my billables were about $1.45 million, give or take a bit. Ridiculous.

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Fri Feb 09, 2018 6:22 pm

1. V10 (Non-NYC)
2. Class of 2015
3. $825 Corporate. I know our litigators bill at slightly less.
4. None for bonus, realistically 2000 to stay employed for multiple years

I don't really understand the optional section, but billed 2350 and received above-market bonus. I've never seen my hours (or any other attorney's hours) written down in a bill.

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Sat Feb 10, 2018 5:37 pm

1. V100 (South East secondary market)
2. 2016
3. 300
4. 1900 and 165k

Do you all really bill out at those rates? Those are rates our partners bill at (around 800-900). Crazy. I guess those big city office spaces are pretty expensive to rent.

RaceJudicata

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Re: Salary vs. Billing Statistics Thread

Postby RaceJudicata » Sun Feb 11, 2018 1:26 am

Anonymous User wrote:1. V10 (Non-NYC)
2. Class of 2015
3. $825 Corporate. I know our litigators bill at slightly less.
4. None for bonus, realistically 2000 to stay employed for multiple years

I don't really understand the optional section, but billed 2350 and received above-market bonus. I've never seen my hours (or any other attorney's hours) written down in a bill.



This seems absurdly high for a second/third year associate.

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zhenders

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Re: Salary vs. Billing Statistics Thread

Postby zhenders » Sun Feb 11, 2018 9:42 am

RaceJudicata wrote:
Anonymous User wrote:1. V10 (Non-NYC)
2. Class of 2015
3. $825 Corporate. I know our litigators bill at slightly less.
4. None for bonus, realistically 2000 to stay employed for multiple years

I don't really understand the optional section, but billed 2350 and received above-market bonus. I've never seen my hours (or any other attorney's hours) written down in a bill.



This seems absurdly high for a second/third year associate.


It is high, but it’s almost certainly accurate. It just narrows the firms a lot. In fact given V10 it probably narrows to one firm.

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Sun Feb 11, 2018 11:39 am

RaceJudicata wrote:
Anonymous User wrote:1. V10 (Non-NYC)
2. Class of 2015
3. $825 Corporate. I know our litigators bill at slightly less.
4. None for bonus, realistically 2000 to stay employed for multiple years

I don't really understand the optional section, but billed 2350 and received above-market bonus. I've never seen my hours (or any other attorney's hours) written down in a bill.



This seems absurdly high for a second/third year associate.


OP of this... I certainly do not disagree with your assessment.

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Sun Feb 11, 2018 3:59 pm

Mandatory
1. V25 (is that a thing?) - secondary market
2. 2014 (4th year)
3. $575
4. 2000

Optional is kinda weird. About $1MM was billed/collected from me last year. And my bonus was NY market.

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Sun Feb 11, 2018 5:53 pm

1. SV V100
2. 2015
3. $515
4. 1950

5. $800k
6. $600K
7. Market bonus

I probably billed more like $1M+ worth of fees but that was written down to just under $800K, which is what was billed to clients. Billing rate is current, the bills above were based on $495/hr. I think I had about 2150 worth of billables and about 150 hours of pro bono and other items creditable to the hours requirement.

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Mon Feb 12, 2018 10:01 pm

Anonymous User wrote:This thread may be helpful to people. The purpose is to collect information that can be used for salary comparison, self performance evaluations and firm comparisons. Please list:

Mandatory
1. Firm name or type (V10, AmLaw 50, Mid Law, Etc.)
2. Class year
3. Billing Rate
4. Hour Requirement

Optional
5. Fees billed
6. Fees collected
7. Bonus information


1. Boutique firm (patent)
2. 2013
3. $235/h
4. 1750

Salary $131,500/yr

5. Billed about 1800
6. Collected about 1500
7. $4k to $5k

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Tue Feb 13, 2018 11:21 am

1. V100
2. 2015
3. almost $400/hr
4. 1950

Billed about 2000 last year
Bonus about 5k

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Tue Feb 13, 2018 6:21 pm

1. Midlaw/Boutique in major market
2. 2014
3. 350
4. 1850

$100k salary. Am I getting milked?

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Re: Salary vs. Billing Statistics Thread

Postby Anonymous User » Tue Feb 13, 2018 6:25 pm

Anonymous User wrote:1. Midlaw/Boutique in major market
2. 2014
3. 350
4. 1850

$100k salary. Am I getting milked?

Probably. You're supposedly bringing in $647500 revenue. Most firms would give you at least 1/4 of that.

shock259

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Re: Salary vs. Billing Statistics Thread

Postby shock259 » Wed Feb 14, 2018 1:18 am

Anonymous User wrote:
Anonymous User wrote:1. Midlaw/Boutique in major market
2. 2014
3. 350
4. 1850

$100k salary. Am I getting milked?

Probably. You're supposedly bringing in $647500 revenue. Most firms would give you at least 1/4 of that.


Yeah, I agree. For biglaw at least, I'm told that the general split of your revenue generated should be about 1/3 to salary, 1/3 to overhead (HR, IT, building lease, whatever), and 1/3 to "tithing" AKA partner profits.

1/6th seems pretty bad, assuming that the firm is collecting on most of that $650k you're generating.



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