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Curious what some of your fees collected YTD (not billable hours, not billed hours, not billable rate X hours, but actual fees collected YTD) is, especially compared to your take home pay. At ~2000 hours by the end of this fiscal year I should have brought in ~750,000 for my firm on a 180 salary (non-NYC biglaw). Some of my fees (not included in the 750,000 will be collected next year when deal closes or when we actually get paid, but as of now 750,000 has flowed to the firm. How about you guys?

Are you trying to humble brag that you have a realization rate of 100%?

Anyway, I’ve collected on 92% so far (roughly 700,000).

Anonymous User wrote:Are you trying to humble brag that you have a realization rate of 100%?

Anyway, I’ve collected on 92% so far (roughly 700,000).

Nowhere close to that, you wouldn't know my realization rate based on the above unless you knew my billable rate.

Non-NYC big law, midyear corporate. Looks like $1.2M collected for me. They really should pay me more.

Almost to the end of the billable year. Looking like 89% realizations, and total will be ~$1.1MM. You're welcome, partners.

Non-NYC market firm and my firm has collected a scant 485,000 on me. I believe this is from February though (fiscal year to date). About 1/3 of my fees this year are from one deal that has not been collected yet. I should come in a tad over $1.1M by end of year I would guess.

TUwave wrote:Lol I don't even know where to find this info

Accidental anon, apologies

Anonymous User wrote:Non-NYC big law, midyear corporate. Looks like $1.2M collected for me. They really should pay me more.

What percentage of your compensation (salary + expected bonus) are you million+ fee collectors getting paid?

redsox550 wrote: What percentage of your compensation (salary + expected bonus) are you million+ fee collectors getting paid?

My firm pays NY market, so I'm getting just a bit under 1/3 of what I'm generating in salary. I've been told by a partner that my firm generally looks for the following with respect to associates and collections:

~1/3 of collections go to the associate salary
~1/3 to overhead (office lease, IT, marketing, benefits, etc.)
~1/3 to partners

Anonymous User wrote:

redsox550 wrote: What percentage of your compensation (salary + expected bonus) are you million+ fee collectors getting paid?

My firm pays NY market, so I'm getting just a bit under 1/3 of what I'm generating in salary. I've been told by a partner that my firm generally looks for the following with respect to associates and collections:

~1/3 of collections go to the associate salary
~1/3 to overhead (office lease, IT, marketing, benefits, etc.)
~1/3 to partners

1/3 to overhead seems a bit high...

2013 wrote:

Anonymous User wrote:My firm pays NY market, so I'm getting just a bit under 1/3 of what I'm generating in salary. I've been told by a partner that my firm generally looks for the following with respect to associates and collections:

~1/3 of collections go to the associate salary
~1/3 to overhead (office lease, IT, marketing, benefits, etc.)
~1/3 to partners

1/3 to overhead seems a bit high...

Different anon: 1/3rd to overhead might seem high, but it's in line with overhead at my previous firm. NY's expensive, for both real estate and staff.

Anonymous User wrote:

redsox550 wrote: What percentage of your compensation (salary + expected bonus) are you million+ fee collectors getting paid?

My firm pays NY market, so I'm getting just a bit under 1/3 of what I'm generating in salary. I've been told by a partner that my firm generally looks for the following with respect to associates and collections:

~1/3 of collections go to the associate salary
~1/3 to overhead (office lease, IT, marketing, benefits, etc.)
~1/3 to partners

1/3 to the associate is high if you bill a lot. For example, I’ll be at ~2600-2700 on the year and assuming all of that is biled and collected, my salary would be 13% of the collected amount. Even if the realization rate is 90% (low end), my salary would still only be 15% of the collected amount. Even at 1800 it’d be around 18-20%.