Should I Try to Make this Move? Forum

[Anonymous User]

I'm about 12 years as a lawyer, currently at at 30 attorney firm doing mostly construction litigation and some other real estate related ligation (title defense, landlord-tenant, etc.) as well as some business disputes/general collections work. The firm has a great reputation in the region. In the last year I made $155K with bonuses, which includes a 10% origination bonus. 1800 billable hours per year. I have been here about 5 years and the partners at this Firm have told me that they want me to become a partner very soon, but they want certain metrics to be reached (receipts, origination, billable hours, etc.). I am close to meeting those, but to be honest it has been a challenge with my family life, as I have 3 young children. From what I can tell, partner compensation varies but is generally $250K to $450K/year.

I have met with the owner of a very well regarded and successful 4 attorney firm that does exclusively construction litigation and some government contracts work, which is where I want to continue to focus. I got a great vibe at the first interview and he has expressed a lot of interest in hiring me. The Firm is essentially the owner, 3 junior associates and paralegal. He has indicated he is willing to offer at least $180K/year, plus 10% bonus on what I originate. This firm has a 1400 hour billable hour minimum requirement, but it sounds like there will be a lot more work than that expected. The owner has indicated he is willing to make me an equity partner, presumably if things work out, or even sell the firm to me down the road (owner in his 50s). However, I have no idea what long term/partner compensation looks like. He has never had any other partners, so it seems that is somewhat uncharted territory. Benefits (401K, healthcare) seem about the same at both firms.

At this stage in my career, is it a bad idea to pursue this position at a smaller firm, coming from a larger more established firm where I am close to becoming a partner? I don't have an official offer from the other firm, but the owner wants to set up another interview and he seems VERY interested in hiring me. I hate to waste everyone's time if I am not going to follow through if offered a position at the new firm.

If I do pursue this new position, what other things in terms of compensation or employment terms should I be thinking about? Thanks.