I recently received an offer to lateral to a smaller firm in a city I’d like to be in. It’s a respected firm, lower AmLaw, and doesn’t pay market. I enjoyed meeting with the team and I think I’d enjoy the more relaxed 1800 billable requirement (requirement for bonus, not class standing).
I think salary trajectory is something like this:
170, 180, 200, 220, 235, 250, 275.
I’m currently at a very well regarded firm that pays significantly more and has market/above market bonuses. I just honestly hate my supervisors and want to leave. I get a sinking feeling in my stomach every time I get an email from one of them.
I’ve had some bites at market-paying firms, but nothing yet. Should I hold out for a market paying firm or take this offer? FWIW, I work in a specialty group and there aren’t too many positions, so I may be waiting 6 months to a year.
Edit: I’m a mid-level, so the salary gap is pretty significant
Hold out or take lateral offer? Forum
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Anonymous User
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Re: Hold out or take lateral offer?
Have you ever billed an 1800 hour year? I'm on track to bill a little under 1900 this year and felt like I had a life and didn't work many weekends. The difference between 1800 and 2000-2200 is substantial (as you're aware).
What's your practice area? To the extent that you're in one without great exit options (lit, maybe finance) this would be hard to turn down. And don't forget the COL difference between NYC and whatever market this is.
What's your practice area? To the extent that you're in one without great exit options (lit, maybe finance) this would be hard to turn down. And don't forget the COL difference between NYC and whatever market this is.
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Anonymous User
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Re: Hold out or take lateral offer?
I had a slow year last year, so I billed a bit under 1800. I agree that it’s nice only billing that much. I spoke to an associate at the firm who billed 1650 last year and didn’t get any flack for it.Anonymous User wrote:Have you ever billed an 1800 hour year? I'm on track to bill a little under 1900 this year and felt like I had a life and didn't work many weekends. The difference between 1800 and 2000-2200 is substantial (as you're aware).
What's your practice area? To the extent that you're in one without great exit options (lit, maybe finance) this would be hard to turn down. And don't forget the COL difference between NYC and whatever market this is.
The practice area I’m in doesn’t have the greatest exit options. I think most in-house positions look for 8+ years of experience (so partner level). Most people seem to jump from firm to firm becoming counsel eventually. I think that I could always “lateral up” again down the line if the salary gap becomes too much to deal with.
