Let's talk in-house salaries Forum

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Re: Let's talk in-house salaries

Post by Anonymous User » Mon Mar 14, 2022 10:28 pm

Anonymous User wrote:
Mon Feb 28, 2022 12:06 am
Adding another data point here.

Sector: Renewable Energy, fully remote
Base Salary: $265k
Bonus: 30% guaranteed, usually exceeded by ~10%
Equity: Substantial option grants on an annual basis, 1 year cliff + 4 year vesting schedule
PTO: Unlimited (actually means unlimited, not like biglaw -- company doesn't even track it)
401k: 6% match vesting immediately
Hours: Roughly 9am to 5:30pm M-F, almost never weekend work
Medical: Fully paid PPO for self, spouse and dependents
Fringe benefits: $50k IVF allowance, 16 week fully paid parental leave, lots of other goodies

Moved in house with 5 years of experience from a top renewable energy firm.
Man, any chance you'd divulge the type of employer in a private message? I'm in the renewables space and most in-house jobs I'm looking at are offering more like $185-$200K base + 20% bonus, but nothing relating to equity and not even close to $250+ base.

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Re: Let's talk in-house salaries

Post by Anonymous User » Tue Mar 15, 2022 10:07 am

Anonymous User wrote:
Mon Mar 14, 2022 7:10 pm
Mind providing title and class year? Trying to figure out if my mid large cap tech (Non FAANG) salary of $230k is low given my class year and title.
Anonymous User wrote:
Fri Mar 11, 2022 3:10 pm
Anonymous User wrote:
Fri Mar 11, 2022 1:14 pm
Anonymous User wrote:
Tue Mar 01, 2022 3:24 pm
Class of 2016

Sector: FAANG
Base Salary: $255k
Bonus: ~25%
Equity: $100k/year
401k: 5% match vesting immediately
Hours: 40-50 hours a week
Medical: Fully paid PPO
That's crazy high, $420k all in/year? $450k 5th year big law comp last year. Amazon was what, $270k all-in comp for 5th years from what I understand.
Not the OP here. This sounds right based on my interviews with another tech company (not FAANG, but mid-large cap). Keep in mind the 100k is equity. For FAANG that feels very cash like because the equity very liquid, but there are plenty of non-publicly traded places where equity is a true gamble on the company's fortunes because you don't have a readily available secondary market to liquidate.

Here is what the non-FAANG tech company was offering:
Base: 245
Bonus: ~25%
Equity: 100k RSU/year
Role title was "senior counsel". My class year is somewhere in the 2013-2016 range, but I don't think they were sticklers about class year, just experience.

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Re: Let's talk in-house salaries

Post by Anonymous User » Tue Mar 15, 2022 4:47 pm

Not the poster above but that’s pretty much exactly the offer I took to go in-house at a renewable energy company. At least in my case, offer was for a permanent fully remote position.

Around 5 years exp at a top 3 project finance practice.

Renewable energy shops seem to be relatively close to this comp but this offer was definitely on the top top end of what I saw. It’s a good time to be a renewable energy lawyer, what can I say.

If build back better is somehow resuscitated, comp will likely trend even higher :)

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Re: Let's talk in-house salaries

Post by Anonymous User » Wed Mar 16, 2022 6:09 pm

Class of 2014-2017 big law Corporate, currently evaluating an in house offer at a pre-IPO company (expected to go public in the next 12-24 months) In the tech space:

Salary: $225k
Bonus: 20%
Stock: at strike price cost is about ~$500k, vests over 5 years, 1 year cliff, and based on publicly trading comps, could be worth about $1.2-1.5m
fully remote role; I live in secondary market in the midwest.

health insurance fully paid for by company; haven't received details on vacation; 12 weeks parental leave, currently no 401k match (not sure about mega backdoor) but apparently re-doing Benefits package and it might be offered.

Will probably try to negotiate salary up a bit to the $240-260k range (which would still below where I am now, but above where I was last year which is where I want to be). Role seems to provide for vertical movement, so that's a plus. Thoughts?

VentureMBA

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Re: Let's talk in-house salaries

Post by VentureMBA » Wed Mar 16, 2022 7:28 pm

Anonymous User wrote:
Wed Mar 16, 2022 6:09 pm
Class of 2014-2017 big law Corporate, currently evaluating an in house offer at a pre-IPO company (expected to go public in the next 12-24 months) In the tech space:

Salary: $225k
Bonus: 20%
Stock: at strike price cost is about ~$500k, vests over 5 years, 1 year cliff, and based on publicly trading comps, could be worth about $1.2-1.5m
fully remote role; I live in secondary market in the midwest.

health insurance fully paid for by company; haven't received details on vacation; 12 weeks parental leave, currently no 401k match (not sure about mega backdoor) but apparently re-doing Benefits package and it might be offered.

Will probably try to negotiate salary up a bit to the $240-260k range (which would still below where I am now, but above where I was last year which is where I want to be). Role seems to provide for vertical movement, so that's a plus. Thoughts?
Who told you they expect to go public in the next 12-24 months? Take this with a grain of salt, especially in this market. If they were really thinking an IPO is a year away, they'd more likely be granting RSUs than options and several workstreams to become public company ready would already be in place.

Many private companies that raised at high valuations over the last ~2 years could be in for a rude awakening as the public markets have returned to earth. It is totally company dependent, but many option holders at companies in that position are underwater on day 1.

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Anonymous User
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Re: Let's talk in-house salaries

Post by Anonymous User » Thu Mar 17, 2022 2:03 am

Anyone have data points for in-in-house employment counsel salaries?

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Re: Let's talk in-house salaries

Post by Anonymous User » Wed Mar 23, 2022 10:51 am

Just received an offer from in-house M&A in the tech/Crypto space:

Position: legal Counsel (M&A)
Location: 100% remote (no office)
Salary: ~$245k
Bonus 10% - and based on company performance and review, possibility for multiplier
Signing Bonus - $5k with 1 year claw back (if I leave or am terminated, pay back in full)
Options - 12k ISO, 6 year vest w/ 1yr cliff
Soft Benefits: 401k (no match now, but apparently might be on horizon (already maxed of 401k for the year so no big issue here); healthcare premium 100% paid by company; unlimited PTO; can get paid in BTC or ETH; company does frequent retreats that company pays for; apparently 9-5 with limited/no weekend work.

Pros: get in house counsel experience (been in biglaw for 7+ years); competitive salary for my market; apparently great W/L balance; rapidly growing space; stock options for Pre-IPO that could be worth more than Big law salary/bonus over next 5 years.

Negatives: Pre-IPO; strike and vesting is steep; salary+bonus below current pay, but above an in house offer received a year ago; have not done M&A in this space so new venture, worried might pigeon hole but decent experience; possible less job security at firm where I'm a hot commodity.

any thoughts?

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Re: Let's talk in-house salaries

Post by Anonymous User » Wed Mar 23, 2022 10:57 am

VentureMBA wrote:
Wed Mar 16, 2022 7:28 pm
Anonymous User wrote:
Wed Mar 16, 2022 6:09 pm
Class of 2014-2017 big law Corporate, currently evaluating an in house offer at a pre-IPO company (expected to go public in the next 12-24 months) In the tech space:

Salary: $225k
Bonus: 20%
Stock: at strike price cost is about ~$500k, vests over 5 years, 1 year cliff, and based on publicly trading comps, could be worth about $1.2-1.5m
fully remote role; I live in secondary market in the midwest.

health insurance fully paid for by company; haven't received details on vacation; 12 weeks parental leave, currently no 401k match (not sure about mega backdoor) but apparently re-doing Benefits package and it might be offered.

Will probably try to negotiate salary up a bit to the $240-260k range (which would still below where I am now, but above where I was last year which is where I want to be). Role seems to provide for vertical movement, so that's a plus. Thoughts?
Who told you they expect to go public in the next 12-24 months? Take this with a grain of salt, especially in this market. If they were really thinking an IPO is a year away, they'd more likely be granting RSUs than options and several workstreams to become public company ready would already be in place.

Many private companies that raised at high valuations over the last ~2 years could be in for a rude awakening as the public markets have returned to earth. It is totally company dependent, but many option holders at companies in that position are underwater on day 1.
I'm representing a company in connection with its IPO...and we have been working with them on it for almost a year now. Keeps pushing due to market conditions. Represent another company that was trying to start its IPO process in earnest last August/September...still hasn't really started (and likely won't for several more months at least). I would absolutely not take for granted that any company will IPO in the next 12-24 months if they are not actively engaged in the process today (and even then I would take it with a grain of salt). It's a lengthy and very involved process with a ton of potential pitfalls. Also I note that both of the companies that I represented that successfully went public in the past 6 months are currently trading >50% below initial price.
Last edited by Anonymous User on Wed Mar 23, 2022 10:59 am, edited 2 times in total.

Anonymous User
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Re: Let's talk in-house salaries

Post by Anonymous User » Wed Mar 23, 2022 10:58 am

Anonymous User wrote:
Wed Mar 23, 2022 10:51 am
Just received an offer from in-house M&A in the tech/Crypto space:

Position: legal Counsel (M&A)
Location: 100% remote (no office)
Salary: ~$245k
Bonus 10% - and based on company performance and review, possibility for multiplier
Signing Bonus - $5k with 1 year claw back (if I leave or am terminated, pay back in full)
Options - 12k ISO, 6 year vest w/ 1yr cliff
Soft Benefits: 401k (no match now, but apparently might be on horizon (already maxed of 401k for the year so no big issue here); healthcare premium 100% paid by company; unlimited PTO; can get paid in BTC or ETH; company does frequent retreats that company pays for; apparently 9-5 with limited/no weekend work.

Pros: get in house counsel experience (been in biglaw for 7+ years); competitive salary for my market; apparently great W/L balance; rapidly growing space; stock options for Pre-IPO that could be worth more than Big law salary/bonus over next 5 years.

Negatives: Pre-IPO; strike and vesting is steep; salary+bonus below current pay, but above an in house offer received a year ago; have not done M&A in this space so new venture, worried might pigeon hole but decent experience; possible less job security at firm where I'm a hot commodity.

any thoughts?
I don't know the details of the valuation/round, but 12k options with a 6 year vest seems like a positively tiny equity grant for someone with your experience.

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Re: Let's talk in-house salaries

Post by Anonymous User » Wed Mar 23, 2022 2:16 pm

Anonymous User wrote:
Wed Mar 23, 2022 10:58 am
Anonymous User wrote:
Wed Mar 23, 2022 10:51 am
Just received an offer from in-house M&A in the tech/Crypto space:

Position: legal Counsel (M&A)
Location: 100% remote (no office)
Salary: ~$245k
Bonus 10% - and based on company performance and review, possibility for multiplier
Signing Bonus - $5k with 1 year claw back (if I leave or am terminated, pay back in full)
Options - 12k ISO, 6 year vest w/ 1yr cliff
Soft Benefits: 401k (no match now, but apparently might be on horizon (already maxed of 401k for the year so no big issue here); healthcare premium 100% paid by company; unlimited PTO; can get paid in BTC or ETH; company does frequent retreats that company pays for; apparently 9-5 with limited/no weekend work.

Pros: get in house counsel experience (been in biglaw for 7+ years); competitive salary for my market; apparently great W/L balance; rapidly growing space; stock options for Pre-IPO that could be worth more than Big law salary/bonus over next 5 years.

Negatives: Pre-IPO; strike and vesting is steep; salary+bonus below current pay, but above an in house offer received a year ago; have not done M&A in this space so new venture, worried might pigeon hole but decent experience; possible less job security at firm where I'm a hot commodity.

any thoughts?
I don't know the details of the valuation/round, but 12k options with a 6 year vest seems like a positively tiny equity grant for someone with your experience.
Original Anon poster; agreed. Assuming they go public at the price their shares are currently trading hands on the private market (price I saw was $55-61/share) then after 2 years I'd break even w/ what I would have received from Big-Law w/ today's bonuses in my market.

Biggest question is if the IPO happens and of course, that's a crap shoot. Company has raised just less than 70m, current valuation based on last round is around 5B.

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Re: Let's talk in-house salaries

Post by Anonymous User » Wed Mar 23, 2022 3:48 pm

Anonymous User wrote:
Wed Mar 23, 2022 2:16 pm
Anonymous User wrote:
Wed Mar 23, 2022 10:58 am
Anonymous User wrote:
Wed Mar 23, 2022 10:51 am
Just received an offer from in-house M&A in the tech/Crypto space:

Position: legal Counsel (M&A)
Location: 100% remote (no office)
Salary: ~$245k
Bonus 10% - and based on company performance and review, possibility for multiplier
Signing Bonus - $5k with 1 year claw back (if I leave or am terminated, pay back in full)
Options - 12k ISO, 6 year vest w/ 1yr cliff
Soft Benefits: 401k (no match now, but apparently might be on horizon (already maxed of 401k for the year so no big issue here); healthcare premium 100% paid by company; unlimited PTO; can get paid in BTC or ETH; company does frequent retreats that company pays for; apparently 9-5 with limited/no weekend work.

Pros: get in house counsel experience (been in biglaw for 7+ years); competitive salary for my market; apparently great W/L balance; rapidly growing space; stock options for Pre-IPO that could be worth more than Big law salary/bonus over next 5 years.

Negatives: Pre-IPO; strike and vesting is steep; salary+bonus below current pay, but above an in house offer received a year ago; have not done M&A in this space so new venture, worried might pigeon hole but decent experience; possible less job security at firm where I'm a hot commodity.

any thoughts?
I don't know the details of the valuation/round, but 12k options with a 6 year vest seems like a positively tiny equity grant for someone with your experience.
Original Anon poster; agreed. Assuming they go public at the price their shares are currently trading hands on the private market (price I saw was $55-61/share) then after 2 years I'd break even w/ what I would have received from Big-Law w/ today's bonuses in my market.

Biggest question is if the IPO happens and of course, that's a crap shoot. Company has raised just less than 70m, current valuation based on last round is around 5B.
Just my opinion, but you shouldn't be taking a cash pay cut to take a chance on equity that would bring you even with what you lost if it hits. You should be taking a cash pay cut to take a chance on equity that will wildly exceed what you lost if it hits. That's the point of a lottery ticket.

1styearlateral

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Re: Let's talk in-house salaries

Post by 1styearlateral » Wed Mar 23, 2022 6:19 pm

Anonymous User wrote:
Wed Mar 23, 2022 3:48 pm
Anonymous User wrote:
Wed Mar 23, 2022 2:16 pm
Anonymous User wrote:
Wed Mar 23, 2022 10:58 am
Anonymous User wrote:
Wed Mar 23, 2022 10:51 am
Just received an offer from in-house M&A in the tech/Crypto space:

Position: legal Counsel (M&A)
Location: 100% remote (no office)
Salary: ~$245k
Bonus 10% - and based on company performance and review, possibility for multiplier
Signing Bonus - $5k with 1 year claw back (if I leave or am terminated, pay back in full)
Options - 12k ISO, 6 year vest w/ 1yr cliff
Soft Benefits: 401k (no match now, but apparently might be on horizon (already maxed of 401k for the year so no big issue here); healthcare premium 100% paid by company; unlimited PTO; can get paid in BTC or ETH; company does frequent retreats that company pays for; apparently 9-5 with limited/no weekend work.

Pros: get in house counsel experience (been in biglaw for 7+ years); competitive salary for my market; apparently great W/L balance; rapidly growing space; stock options for Pre-IPO that could be worth more than Big law salary/bonus over next 5 years.

Negatives: Pre-IPO; strike and vesting is steep; salary+bonus below current pay, but above an in house offer received a year ago; have not done M&A in this space so new venture, worried might pigeon hole but decent experience; possible less job security at firm where I'm a hot commodity.

any thoughts?
I don't know the details of the valuation/round, but 12k options with a 6 year vest seems like a positively tiny equity grant for someone with your experience.
Original Anon poster; agreed. Assuming they go public at the price their shares are currently trading hands on the private market (price I saw was $55-61/share) then after 2 years I'd break even w/ what I would have received from Big-Law w/ today's bonuses in my market.

Biggest question is if the IPO happens and of course, that's a crap shoot. Company has raised just less than 70m, current valuation based on last round is around 5B.
Just my opinion, but you shouldn't be taking a cash pay cut to take a chance on equity that would bring you even with what you lost if it hits. You should be taking a cash pay cut to take a chance on equity that will wildly exceed what you lost if it hits. That's the point of a lottery ticket.
This makes sense if you don't factor in the prospective exposure to "the business side." I can tell you from personal experience that the pay cut I took when I went in-house to a startup allowed me to get invaluable business experience, which has paid off ten-fold since and will continue to open doors that would have otherwise not been available to me had I stayed at the firm.

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Re: Let's talk in-house salaries

Post by Anonymous User » Thu Mar 24, 2022 10:31 am

1styearlateral wrote:
Wed Mar 23, 2022 6:19 pm
Anonymous User wrote:
Wed Mar 23, 2022 3:48 pm
Anonymous User wrote:
Wed Mar 23, 2022 2:16 pm
Anonymous User wrote:
Wed Mar 23, 2022 10:58 am
Anonymous User wrote:
Wed Mar 23, 2022 10:51 am
Just received an offer from in-house M&A in the tech/Crypto space:

Position: legal Counsel (M&A)
Location: 100% remote (no office)
Salary: ~$245k
Bonus 10% - and based on company performance and review, possibility for multiplier
Signing Bonus - $5k with 1 year claw back (if I leave or am terminated, pay back in full)
Options - 12k ISO, 6 year vest w/ 1yr cliff
Soft Benefits: 401k (no match now, but apparently might be on horizon (already maxed of 401k for the year so no big issue here); healthcare premium 100% paid by company; unlimited PTO; can get paid in BTC or ETH; company does frequent retreats that company pays for; apparently 9-5 with limited/no weekend work.

Pros: get in house counsel experience (been in biglaw for 7+ years); competitive salary for my market; apparently great W/L balance; rapidly growing space; stock options for Pre-IPO that could be worth more than Big law salary/bonus over next 5 years.

Negatives: Pre-IPO; strike and vesting is steep; salary+bonus below current pay, but above an in house offer received a year ago; have not done M&A in this space so new venture, worried might pigeon hole but decent experience; possible less job security at firm where I'm a hot commodity.

any thoughts?
I don't know the details of the valuation/round, but 12k options with a 6 year vest seems like a positively tiny equity grant for someone with your experience.
Original Anon poster; agreed. Assuming they go public at the price their shares are currently trading hands on the private market (price I saw was $55-61/share) then after 2 years I'd break even w/ what I would have received from Big-Law w/ today's bonuses in my market.

Biggest question is if the IPO happens and of course, that's a crap shoot. Company has raised just less than 70m, current valuation based on last round is around 5B.
Just my opinion, but you shouldn't be taking a cash pay cut to take a chance on equity that would bring you even with what you lost if it hits. You should be taking a cash pay cut to take a chance on equity that will wildly exceed what you lost if it hits. That's the point of a lottery ticket.
This makes sense if you don't factor in the prospective exposure to "the business side." I can tell you from personal experience that the pay cut I took when I went in-house to a startup allowed me to get invaluable business experience, which has paid off ten-fold since and will continue to open doors that would have otherwise not been available to me had I stayed at the firm.
Original ANON, appreciate that insight - that's a good point. Also get what the prior poster noted re lottery ticket. Also, pay decrease is about 25%, but if I gain some WLB (like rarely working past 6 or 7p and minimal weekend/vacation work, then that 25% is worth it. Maybe I have to make dinner at home a few more times and not upgrade to business class when flying over 5 hours - still worth it.

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Re: Let's talk in-house salaries

Post by Anonymous User » Tue Mar 29, 2022 10:40 am

Trying to weigh an offer right now as a 5th year. Thoughts appreciated. Seems decent, but I haven't been looking very long, so don't want to jump at the first thing that comes up... also generally happy at the firm for the time being so there is that (and am admittedly hesitant to take the cash hit).

Base 245
Bonus 20%
RSU ~120 a year at current stock
Total: ~420 a year
Couple of other perks that we don't have at the firm (401K match, cheaper healthcare), had to value, but maybe $5k...

Thoughts?

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Re: Let's talk in-house salaries

Post by Anonymous User » Tue Mar 29, 2022 11:14 am

Anonymous User wrote:
Tue Mar 29, 2022 10:40 am
Trying to weigh an offer right now as a 5th year. Thoughts appreciated. Seems decent, but I haven't been looking very long, so don't want to jump at the first thing that comes up... also generally happy at the firm for the time being so there is that (and am admittedly hesitant to take the cash hit).

Base 245
Bonus 20%
RSU ~120 a year at current stock
Total: ~420 a year
Couple of other perks that we don't have at the firm (401K match, cheaper healthcare), had to value, but maybe $5k...

Thoughts?
Where is this and for what role? This is hardly even a pay cut, which seems to be a great deal (assuming fewer hours).

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Re: Let's talk in-house salaries

Post by Anonymous User » Tue Mar 29, 2022 1:13 pm

Tech company. Position is corporate counsel (they have a GC). Could be remote/hybrid depending on preference. I think it is a good offer, but am getting cold feet based on the cash comp hit, and the fact that I really have not been looking much, so don't have a good sense of the market.

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Re: Let's talk in-house salaries

Post by Anonymous User » Tue Mar 29, 2022 1:17 pm

Anonymous User wrote:
Tue Mar 29, 2022 1:13 pm
Tech company. Position is corporate counsel (they have a GC). Could be remote/hybrid depending on preference. I think it is a good offer, but am getting cold feet based on the cash comp hit, and the fact that I really have not been looking much, so don't have a good sense of the market.
This is significantly over market for 4 YOE and you could go years without getting w/in 50k of this offer if that's helpful context :lol:

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Re: Let's talk in-house salaries

Post by Anonymous User » Tue Mar 29, 2022 2:30 pm

Anonymous User wrote:
Tue Mar 29, 2022 10:40 am
Trying to weigh an offer right now as a 5th year. Thoughts appreciated. Seems decent, but I haven't been looking very long, so don't want to jump at the first thing that comes up... also generally happy at the firm for the time being so there is that (and am admittedly hesitant to take the cash hit).

Base 245
Bonus 20%
RSU ~120 a year at current stock
Total: ~420 a year
Couple of other perks that we don't have at the firm (401K match, cheaper healthcare), had to value, but maybe $5k...

Thoughts?
Seems like a solid package. I'm looking at an offer at a pre-IPO tech company with a comparable package - would be more M&A than general corporate (but going to try to do some corporate work generally, which apparently is encouraged). ISO rather than RSU will be around that range if they go public and bonus is about half. So it seems good all in. I also will be taking a comp hit, but if the W/L balance plays out it'll be worthwhile I think. 100% remote so that helps. Planning to talk to my firm next week, see if they offer a retention bonus or something. Not sure how the tech or IPO market will fare the next 6-12 months; but looking at this as a stepping stone to better W/L balance, and if it means a bit of a comp hit that's okay with me. Still plan to work on my Side hustles, anyway.

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Re: Let's talk in-house salaries

Post by Anonymous User » Tue Mar 29, 2022 6:04 pm

Anyone have insight into salaries for in-house middle/lower-middle market PE firms? I'm considering an offer AGC offer from a regional PE shop with about $1 billion in assets under management, and I'm having trouble finding any real benchmarks.

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Re: Let's talk in-house salaries

Post by Anonymous User » Tue Mar 29, 2022 6:47 pm

Currently in-house and interviewing at another company. Would appreciate any thoughts.

Current company: Large, prestigious company
-total comp: about $315K (at current stock valuation, which is down about 20% YOY; there's questions about growth potential of company in near term)
-job is relatively easy, good QOL, don't work evenings or weekends
-like manager and colleagues

Other company: Interviewing with pre-IPO, medium sized high growth company
-total comp: about $320K (initial ballpack TC, which can be negotiated up), no sign-on bonus
-Can prob be negotiated up to at least $350K, maybe $375K
-valuation is based on a Fall 2020 valuation (so a high point in the markets), but if markets continue recovering equity package could be worth 2X-3X at IPO
-TC could potentially be worth $420K-$675K, or IPO could be delayed and/or stock could be worth less
-this role is more senior and I would be working more independently (which is both exciting and scary)

Other considerations:
-I'm thinking about FIRE. Have about $1.3M investments, $1.5M net worth. Might pursue a long sabbatical or just straight up retire early in 1-2 years with hopefully $1.6M - 2M in investments. I've been pursuing FIRE for a number of years in part because I hated firms but also because I want freedom and to focus on important things in life. But with that said, I also could change my mind, and decide to keep saving up if work is easy enough at the time.

Option 1 (stay with current company) offers a good paycheck for a relatively easy job (about $315K TC). Option 2 offers potentially more money ($320K-$600K+), but it's not guaranteed (depends on how IPO goes), has more responsibility (on the flip side, would look great on resume if I chose to continue working), and unknown whether I'd like colleagues as much.

What do folks think? Option 1 is certainly the safer bet, and it offers a solid income in a more prestigious environment I know and like. Option 2 is riskier, but maybe the potentially higher income is worth the risk since I'm considering only working 1-2 more years and can always quite in a year if I really didn't like it.

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Re: Let's talk in-house salaries

Post by attorney589753 » Tue Mar 29, 2022 6:58 pm

Anonymous User wrote:
Tue Mar 29, 2022 2:30 pm
Anonymous User wrote:
Tue Mar 29, 2022 10:40 am
Trying to weigh an offer right now as a 5th year. Thoughts appreciated. Seems decent, but I haven't been looking very long, so don't want to jump at the first thing that comes up... also generally happy at the firm for the time being so there is that (and am admittedly hesitant to take the cash hit).

Base 245
Bonus 20%
RSU ~120 a year at current stock
Total: ~420 a year
Couple of other perks that we don't have at the firm (401K match, cheaper healthcare), had to value, but maybe $5k...

Thoughts?
Seems like a solid package. I'm looking at an offer at a pre-IPO tech company with a comparable package - would be more M&A than general corporate (but going to try to do some corporate work generally, which apparently is encouraged). ISO rather than RSU will be around that range if they go public and bonus is about half. So it seems good all in. I also will be taking a comp hit, but if the W/L balance plays out it'll be worthwhile I think. 100% remote so that helps. Planning to talk to my firm next week, see if they offer a retention bonus or something. Not sure how the tech or IPO market will fare the next 6-12 months; but looking at this as a stepping stone to better W/L balance, and if it means a bit of a comp hit that's okay with me. Still plan to work on my Side hustles, anyway.
I agree with the posters writing that $250-300k base+bonus comp is super solid for a midlevel corporate associate. Anyone maximizing for money should just stay in a law firm because you may wait forever for base over $300K packages. Now to address the IPO comment specifically, next 12+ months will be really brutal for the tech IPO and late-stage markets because revenue multiples are going down. Lots of companies will be forced to wait longer or go out at a down round. If the company is truly late stage you might be able to get intel on how they specifically could fare, but overall I think many folks expect a bumpy next couple years for the highly valued tech companies.

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attorney589753

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Re: Let's talk in-house salaries

Post by attorney589753 » Tue Mar 29, 2022 7:04 pm

Anonymous User wrote:
Tue Mar 29, 2022 6:47 pm
Currently in-house and interviewing at another company. Would appreciate any thoughts.

Current company: Large, prestigious company
-total comp: about $315K (at current stock valuation, which is down about 20% YOY; there's questions about growth potential of company in near term)
-job is relatively easy, good QOL, don't work evenings or weekends
-like manager and colleagues

Other company: Interviewing with pre-IPO, medium sized high growth company
-total comp: about $320K (initial ballpack TC, which can be negotiated up), no sign-on bonus
-Can prob be negotiated up to at least $350K, maybe $375K
-valuation is based on a Fall 2020 valuation (so a high point in the markets), but if markets continue recovering equity package could be worth 2X-3X at IPO
-TC could potentially be worth $420K-$675K, or IPO could be delayed and/or stock could be worth less
-this role is more senior and I would be working more independently (which is both exciting and scary)

Other considerations:
-I'm thinking about FIRE. Have about $1.3M investments, $1.5M net worth. Might pursue a long sabbatical or just straight up retire early in 1-2 years with hopefully $1.6M - 2M in investments. I've been pursuing FIRE for a number of years in part because I hated firms but also because I want freedom and to focus on important things in life. But with that said, I also could change my mind, and decide to keep saving up if work is easy enough at the time.

Option 1 (stay with current company) offers a good paycheck for a relatively easy job (about $315K TC). Option 2 offers potentially more money ($320K-$600K+), but it's not guaranteed (depends on how IPO goes), has more responsibility (on the flip side, would look great on resume if I chose to continue working), and unknown whether I'd like colleagues as much.

What do folks think? Option 1 is certainly the safer bet, and it offers a solid income in a more prestigious environment I know and like. Option 2 is riskier, but maybe the potentially higher income is worth the risk since I'm considering only working 1-2 more years and can always quite in a year if I really didn't like it.
This is an easy one. Are you excited by taking on more responsibility and growing your career? If so, take option two. Do you just want to coast until you hit your FIRE number? Then stick with option one, because you're very likely going to be working more at two and better to stick with devil you know. Equity value is pretty risky if based on 2020 tech valuations so I think you have to take that part with a grain of salt.

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Joined: Tue Aug 11, 2009 9:32 am

Re: Let's talk in-house salaries

Post by Anonymous User » Wed Mar 30, 2022 12:48 am

Anonymous User wrote:
Tue Mar 29, 2022 1:17 pm
Anonymous User wrote:
Tue Mar 29, 2022 1:13 pm
Tech company. Position is corporate counsel (they have a GC). Could be remote/hybrid depending on preference. I think it is a good offer, but am getting cold feet based on the cash comp hit, and the fact that I really have not been looking much, so don't have a good sense of the market.
This is significantly over market for 4 YOE and you could go years without getting w/in 50k of this offer if that's helpful context :lol:
Basically this. Jobs paying this much are pretty rare at your level of experience. If you want to go in-house, I would consider that it might be awhile before you see a similar offer.

In terms of the cash hit, it can present significant issues. If you have other obligations, you may not have the cash on hand to meet them. For instance, you may only be able to liquidate your RSUs during certain periods during the year and you may decide you don't want to do that during such a window (e.g., you perceive the stock to be undervalued, or you believe it will continue to rise). Even if you're committed to selling, you may have to wait a long time before you get the comp (e.g., if your RSUs vest annually). Same thing goes for bonus (although that's true at a law firm, but there, you're getting more cash month-to-month, so you have less need for the bonus).

Anonymous User
Posts: 428113
Joined: Tue Aug 11, 2009 9:32 am

Re: Let's talk in-house salaries

Post by Anonymous User » Wed Mar 30, 2022 1:03 am

Anonymous User wrote:
Tue Mar 29, 2022 10:40 am
Trying to weigh an offer right now as a 5th year. Thoughts appreciated. Seems decent, but I haven't been looking very long, so don't want to jump at the first thing that comes up... also generally happy at the firm for the time being so there is that (and am admittedly hesitant to take the cash hit).

Base 245
Bonus 20%
RSU ~120 a year at current stock
Total: ~420 a year
Couple of other perks that we don't have at the firm (401K match, cheaper healthcare), had to value, but maybe $5k...

Thoughts?
Congrats! What practice group is your experience in? Did you use a recruiter?

Anonymous User
Posts: 428113
Joined: Tue Aug 11, 2009 9:32 am

Re: Let's talk in-house salaries

Post by Anonymous User » Wed Mar 30, 2022 7:48 am

Thanks all. Seems like it’s a good deal.

Re: the cash hit—it’s not an expenses/liquidity problem—in general we live well below our means—it’s more just the mental aspect of seeing the cash hit on paper that I’m coping with. But I’ll get over it, especially since the consensus seems to be this is a legit offer.

I am more or less general corporate doing mostly m&a and VC. Did not use a recruiter, but had someone recommend me.

Seriously? What are you waiting for?

Now there's a charge.
Just kidding ... it's still FREE!


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