Anyone have the word on this firm?
What are the billables required? Anyone been across from them? Are they legit?
Egan Nelson? Forum
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Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
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Anonymous User
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Re: Egan Nelson?
Hard to believe any firm offering the package they claim to offer would need months of non-stop mass mailing every associate in Texas (and probably beyond).
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Anonymous User
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Re: Egan Nelson?
Agreed. I think the random recruiter said you effectively get paid 50% of your collections. I am not sure what the hourly rate is, but that could be a huge payday. One concern I would have is if things slow down - you have given up the guaranteed big salary. Sure, you will be slow, so may be worth it, but feels like there has to be a catch.Anonymous User wrote: ↑Thu Apr 07, 2022 9:45 pmHard to believe any firm offering the package they claim to offer would need months of non-stop mass mailing every associate in Texas (and probably beyond).
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Anonymous User
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Re: Egan Nelson?
Bump if anyone has more info
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Anonymous User
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Re: Egan Nelson?
Anon because I know someone who works there.
Their billing rate is a bit less than 50% of biglaw. 1500 billable hours is average, so at that pace their senior associates would make just under $300k (multiply current biglaw rate by 25% by 1500 hours). Not sure if they recently hiked rates -- if not, the gap is wider than they advertise. I know a senior who made $270k there in 2021 vs ~$500k they would have made had they stayed at biglaw for "only" 400 more hours (1500 vs 1900) due to various COVID bonuses.
Also, note:
1. you get paid on collections, not billables. Enough said.
2. lack of biglaw perks like heavily subsidized health insurance, paid parental leave (remember, the new biglaw standard is 4 months, even for guys), etc.
3. aside from doing venture capital financings and Carta management for startups, it's dubious how good their M&A practice can be without subject-matter specialists in-house.
4. probably a good place for a partner to chill at, but questionable for mid-levels and seniors (see unadvertised pay differential above).
5. a decent move for someone wanting to flee toxic biglaw, but anyone else should think twice IMO.
Their billing rate is a bit less than 50% of biglaw. 1500 billable hours is average, so at that pace their senior associates would make just under $300k (multiply current biglaw rate by 25% by 1500 hours). Not sure if they recently hiked rates -- if not, the gap is wider than they advertise. I know a senior who made $270k there in 2021 vs ~$500k they would have made had they stayed at biglaw for "only" 400 more hours (1500 vs 1900) due to various COVID bonuses.
Also, note:
1. you get paid on collections, not billables. Enough said.
2. lack of biglaw perks like heavily subsidized health insurance, paid parental leave (remember, the new biglaw standard is 4 months, even for guys), etc.
3. aside from doing venture capital financings and Carta management for startups, it's dubious how good their M&A practice can be without subject-matter specialists in-house.
4. probably a good place for a partner to chill at, but questionable for mid-levels and seniors (see unadvertised pay differential above).
5. a decent move for someone wanting to flee toxic biglaw, but anyone else should think twice IMO.
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LittleRedCorvette
- Posts: 167
- Joined: Sun Jan 07, 2018 3:57 pm
Re: Egan Nelson?
Bumping this topic since I am now getting approximately 5 emails a week from headhunters who have to be referring to Egan Nelson. The latest said they would consider a partner title.
Any thoughts from folks?
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