Solo Practice vs. Government Job
Posted: Sun Jan 12, 2020 9:37 am
I am about 5-6 years post-graduation and started my own solo practice last year. Generally very happy doing this.
I was not hunting for a job or anything, but a Common Pleas Magistrate called me and asked if I'd be interested in working in the City Law Department. One thing led to another and now I've been offered a pretty good gig at the City Law Department. Wondering what people think.
Solo Practice
-Net income was $94,000 last year (not including taxes)
-Zero benefits (current healthcare is through wife and sucks)
-Pretty much unlimited autonomy
-Do a lot of low fee work (flat fee appearance work, criminal court appointment list) that I don't particularly enjoy but do because I have the time
-Generally enjoy doing this and being on my own
Government Job
-Starting salary of $68,000
-Retirement contributions of 24% of salary after six months ($17,000 per year by my math)
-Basically best you can imagine healthcare
-Hours would be 8:00 - 4:00 with an hour paid lunch
-Job would include managing city litigation, personnel issues, legislation issues, land/real estate issues (takings, sewer, streets, etc.)
-Most seem to think this would establish great connections
Perhaps most importantly, this is a "serve at the pleasure of mayor" job, not a lifetime gig. So theoretically, a new administration could come in and fire everyone. That never happens but it's a possibility.
But, in my interview, I turned this on its head and said, "That's exactly why I can't completely shut my practice down. I need to keep that up and running in case I get canned." The city law director was totally on board with it. I could do my private practice during lunch, after 4:00, and on weekends; and if I need to attend hearings, then I make up for that via "flex time" (i.e., attend hearing for an hour, but work through lunch or stay until 5:00).
My thoughts are to take the government job and try to make my law practice work on the side. I can get rid of all my low fee work and, after reviewing my active matter list, I'd like to keep maybe 8-10 clients. I think that's manageable and would be 10-15 hours per week on the side. I think I can make about $3,000 - $4,000/month in my practice doing this, maybe more.
Worst case scenario -- if the government job is a bad fit, then I can just return to solo practice. It basically stays there as an insurance policy. I can get back on the flat fee and appointment list almost immediately.
I'm leaning towards taking it but wondering what those here think.
I was not hunting for a job or anything, but a Common Pleas Magistrate called me and asked if I'd be interested in working in the City Law Department. One thing led to another and now I've been offered a pretty good gig at the City Law Department. Wondering what people think.
Solo Practice
-Net income was $94,000 last year (not including taxes)
-Zero benefits (current healthcare is through wife and sucks)
-Pretty much unlimited autonomy
-Do a lot of low fee work (flat fee appearance work, criminal court appointment list) that I don't particularly enjoy but do because I have the time
-Generally enjoy doing this and being on my own
Government Job
-Starting salary of $68,000
-Retirement contributions of 24% of salary after six months ($17,000 per year by my math)
-Basically best you can imagine healthcare
-Hours would be 8:00 - 4:00 with an hour paid lunch
-Job would include managing city litigation, personnel issues, legislation issues, land/real estate issues (takings, sewer, streets, etc.)
-Most seem to think this would establish great connections
Perhaps most importantly, this is a "serve at the pleasure of mayor" job, not a lifetime gig. So theoretically, a new administration could come in and fire everyone. That never happens but it's a possibility.
But, in my interview, I turned this on its head and said, "That's exactly why I can't completely shut my practice down. I need to keep that up and running in case I get canned." The city law director was totally on board with it. I could do my private practice during lunch, after 4:00, and on weekends; and if I need to attend hearings, then I make up for that via "flex time" (i.e., attend hearing for an hour, but work through lunch or stay until 5:00).
My thoughts are to take the government job and try to make my law practice work on the side. I can get rid of all my low fee work and, after reviewing my active matter list, I'd like to keep maybe 8-10 clients. I think that's manageable and would be 10-15 hours per week on the side. I think I can make about $3,000 - $4,000/month in my practice doing this, maybe more.
Worst case scenario -- if the government job is a bad fit, then I can just return to solo practice. It basically stays there as an insurance policy. I can get back on the flat fee and appointment list almost immediately.
I'm leaning towards taking it but wondering what those here think.