Career Associates Forum

[RaceJudicata]

When is the last time Of Counsel comp got raised?

2014. For complicated reasons, there is an inverse relationship between associate-salary pressure and of-counsel-salary pressure. When associates salaries are skyrocketing, Of Counsel salaries tend to stay stagnant. But when associate salaries are flat--as they've been since 2007--Of Counsel salaries increase. This is especially true at V30 firms.

Ah ok thanks for that. Any info on Of Counsel Comp at V48 firms?

I can't speak for all of V48, but V44-V48 uniformly pays Of Counsel around $285k + non-discretionary/non-negotiable and mandatory 50k bonus.

[TLSModBot]

When is the last time Of Counsel comp got raised?

2014. For complicated reasons, there is an inverse relationship between associate-salary pressure and of-counsel-salary pressure. When associates salaries are skyrocketing, Of Counsel salaries tend to stay stagnant. But when associate salaries are flat--as they've been since 2007--Of Counsel salaries increase. This is especially true at V30 firms.

Ah ok thanks for that. Any info on Of Counsel Comp at V48 firms?

I can't speak for all of V48, but V44-V48 uniformly pays Of Counsel around $285k + non-discretionary/non-negotiable and mandatory 50k bonus.

lol @ this. Baker Botts much dude? Some Of Counsel friends of mine at Cahill and K&L Gates get $250K fixed but with a sweet bonus (last year was 85K - it hovers around this most years I think).

[Anonymous User]

When is the last time Of Counsel comp got raised?

2014. For complicated reasons, there is an inverse relationship between associate-salary pressure and of-counsel-salary pressure. When associates salaries are skyrocketing, Of Counsel salaries tend to stay stagnant. But when associate salaries are flat--as they've been since 2007--Of Counsel salaries increase. This is especially true at V30 firms.

Ah ok thanks for that. Any info on Of Counsel Comp at V48 firms?

I can't speak for all of V48, but V44-V48 uniformly pays Of Counsel around $285k + non-discretionary/non-negotiable and mandatory 50k bonus.

lol @ this. Baker Botts much dude? Some Of Counsel friends of mine at Cahill and K&L Gates get $250K fixed but with a sweet bonus (last year was 85K - it hovers around this most years I think).

This has been hilarious. People don't get that this is all a joke? Of Counsel position salaries vary widely. Ours tend to start at 300k with a possibility of a 150-200k bonus - but you don't make of counsel until after 9-10 years (usually "take a couple laps" when up for partner) then when you are not going to make it they may offer you counsel. But it is hilarious to see people believing it is the same everywhere. It varies by firm and by the person.

[RaceJudicata]

When is the last time Of Counsel comp got raised?

2014. For complicated reasons, there is an inverse relationship between associate-salary pressure and of-counsel-salary pressure. When associates salaries are skyrocketing, Of Counsel salaries tend to stay stagnant. But when associate salaries are flat--as they've been since 2007--Of Counsel salaries increase. This is especially true at V30 firms.

Ah ok thanks for that. Any info on Of Counsel Comp at V48 firms?

I can't speak for all of V48, but V44-V48 uniformly pays Of Counsel around $285k + non-discretionary/non-negotiable and mandatory 50k bonus.

lol @ this. Baker Botts much dude? Some Of Counsel friends of mine at Cahill and K&L Gates get $250K fixed but with a sweet bonus (last year was 85K - it hovers around this most years I think).

This has been hilarious. People don't get that this is all a joke? Of Counsel position salaries vary widely. Ours tend to start at 300k with a possibility of a 150-200k bonus - but you don't make of counsel until after 9-10 years (usually "take a couple laps" when up for partner) then when you are not going to make it they may offer you counsel. But it is hilarious to see people believing it is the same everywhere. It varies by firm and by the person.

Not sure what firms you are referring to, Anon. Maybe anon abuse. But I can definitively say, that all V48 firms I have ever heard of offer approximately $335k, give or take $0.

[TLSModBot]

I think he was just vastly overestimating the bonus there. The salary at his firm is understandable if they worked out a more fixed income scheme with very small performance bonus structured in. Something around $35K as a bonus would work for most firms.

[Anonymous User]

When is the last time Of Counsel comp got raised?

2014. For complicated reasons, there is an inverse relationship between associate-salary pressure and of-counsel-salary pressure. When associates salaries are skyrocketing, Of Counsel salaries tend to stay stagnant. But when associate salaries are flat--as they've been since 2007--Of Counsel salaries increase. This is especially true at V30 firms.

Ah ok thanks for that. Any info on Of Counsel Comp at V48 firms?

I can't speak for all of V48, but V44-V48 uniformly pays Of Counsel around $285k + non-discretionary/non-negotiable and mandatory 50k bonus.

lol @ this. Baker Botts much dude? Some Of Counsel friends of mine at Cahill and K&L Gates get $250K fixed but with a sweet bonus (last year was 85K - it hovers around this most years I think).

This has been hilarious. People don't get that this is all a joke? Of Counsel position salaries vary widely. Ours tend to start at 300k with a possibility of a 150-200k bonus - but you don't make of counsel until after 9-10 years (usually "take a couple laps" when up for partner) then when you are not going to make it they may offer you counsel. But it is hilarious to see people believing it is the same everywhere. It varies by firm and by the person.

Not sure what firms you are referring to, Anon. Maybe anon abuse. But I can definitively say, that all V48 firms I have ever heard of offer approximately $335k, give or take $0.

Anon because I am talking about the firm I am at. Which could possibly be outed by my profile. In any case, how many of counsel do you know at V50 (or V48?) firms? What you are telling me is that they take a pay cut from being an 8th year? That is definitely not the case where I am (a V50/V48 firm). I don't know if you are being serious or still trying to give OP a hard time?

[rpupkin]

Anon because I am talking about the firm I am at. Which could possibly be outed by my profile. In any case, how many of counsel do you know at V50 (or V48?) firms? What you are telling me is that they take a pay cut from being an 8th year? That is definitely not the case where I am (a V50/V48 firm). I don't know if you are being serious or still trying to give OP a hard time?

I can understand you posting anon, but if your firm indeed offers above-market comp for Of Counsel, then OUT THE FIRM.

[reasonable_man]

No one here knows anything.

Of counsel make 346k

Senior counsel make 347k

Special counsel make 352k (because they are special)

Trial counsel make 353k (because the ABA lets them try cases)

Senior special counsel make 361k

Contract partner make 362k

Jr. Equity partners make 401.5k

Equity partner make 1.2 Million

Sr. Equity partner make 1 Million (cause they're old as hell and the regular equity partners are stealing from them)

Founding partner don't get paid - they just take.

This is set in stone. There is no room for deviation on any of this.

[BigZuck]

Thread is feeling a bit Inception-y with all the multilayered whooshings

[Anonymous User]

I'm familiar with plaintiffs-side boutique "of counsel" positions.

It's common for of-counsel positions plaintiffs' side compensation to be based on case performance. Both base pay and bonuses tend to be variable from firm-to-firm (and year-to-year), although total take home compensation seems to even out. So, for example, my best friend's firm does higher base and lower bonuses. A recent of-counsel lateral at his firm got $310k base + a Christmas bonus (which last year he said was $25k firm wide). I know another of-counsel at a different firm with lower base pay ($110k) who got a performance bonus of about 2x base.

[Anonymous User]

I am hoping to become of counsel. $335k without the stresses of partnership sounds great. I am also a weirdo that likes being a biglaw associate.

How long have you been a biglaw associate?

OP of this post here. I'm a fourth year.

[Anonymous User]

I'm familiar with plaintiffs-side boutique "of counsel" positions.

I know another of-counsel at a different firm with lower base pay ($110k) who got a performance bonus of about 2x base.

I think I might know which firm this is... do they also offer a $5k summer bonus?

[Anonymous User]

I'm familiar with plaintiffs-side boutique "of counsel" positions.

I know another of-counsel at a different firm with lower base pay ($110k) who got a performance bonus of about 2x base.

I think I might know which firm this is... do they also offer a $5k summer bonus?

I'm the plaintiffs-boutique anon -- yea, I'm pretty sure we're thinking of the same firm.

[TLSModBot]

Thread is feeling a bit Inception-y with all the multilayered whooshings

Yeah I'm actually starting to believe

[BigZuck]

Thread is feeling a bit Inception-y with all the multilayered whooshings

Yeah I'm actually starting to believe

This post was extremely underrated, especially the bolded:

I'm familiar with plaintiffs-side boutique "of counsel" positions.

It's common for of-counsel positions plaintiffs' side compensation to be based on case performance. Both base pay and bonuses tend to be variable from firm-to-firm (and year-to-year), although total take home compensation seems to even out. So, for example, my best friend's firm does higher base and lower bonuses. A recent of-counsel lateral at his firm got $310k base + a Christmas bonus (which last year he said was $25k firm wide). I know another of-counsel at a different firm with lower base pay ($110k) who got a performance bonus of about 2x base.

[Anonymous User]

it's $335k across the board. I've heard Skadden played around with calling its Counsels by a different name ("Senior Attorney") and paying sub-335k, but the market didn't put up with it and they saw a lot of lateraling.

[rpupkin]

it's $335k across the board. I've heard Skadden played around with calling its Counsels by a different name ("Senior Attorney") and paying sub-335k, but the market didn't put up with it and they saw a lot of lateraling.

I've got a friend who is a senior associate at Quinn Emanuel. Apparently, John Quinn circulated an email about creating an "On Counsel" position. Senior associates (defined as attorneys with at least five years of experience) can apply. Salary and bonus structure for On Counsels are the same they are for first-year associates (i.e., 160K base + "above market" bonus). But after three years, an On Counsel will be considered for an Of Counsel position, based on a vote of the partnership.