How much do partners in regional biglaw make?
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Date: July 2nd, 2024 8:08 AM Author: mentally impaired stage
Shockingly little in many cases. Perhaps $500k
Of course, if that flyover state is Illinois or Texas, then they make as much as East or West coast biglaw.
(http://www.autoadmit.com/thread.php?thread_id=5549004&forum_id=2...id.#47800887) |
Date: July 2nd, 2024 8:35 AM Author: Talking Unholy Macaca Liquid Oxygen
i'm at what most would consider a midlaw firm (600-700 lawyers, full service, regional footprint) and i believe "income" partners make $300+. i'm in the bottom tier of equity and should make just under $500k this year depending on firm profits.
it's hard to generalize though. there are people here with $10 million books and "officially" they make like $1.5 or $2m in firm "share" payout, but they get these huge bonuses and are probably really making $3-4m/year.
(http://www.autoadmit.com/thread.php?thread_id=5549004&forum_id=2...id.#47800927) |
Date: July 8th, 2024 10:15 PM Author: wine hairless gaping institution
Like a non-vault am law 200 firm?
“Income” partners make around $450-550K with a bonus based on hours worked and for origination. These are mostly service “partners” who have a valued specialty but not really their own business.
Top partners with their own business and associates/service partners all billing under them often clear $1-$2M.
(http://www.autoadmit.com/thread.php?thread_id=5549004&forum_id=2...id.#47822642) |
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Date: July 9th, 2024 7:29 AM Author: Talking Unholy Macaca Liquid Oxygen
this isn't necessarily correct, it can be worse if you are truly talking amlaw 200.
i was at a firm called miles and stockbridge for several months in 2012, and they're in the amlaw 200 (and were in the amlaw 200 at the time).
newly promoted income partners without books (which describes nearly everyone) made - not flame - UNDER 200k. i think they were at like 180 or 190k. this is when biglaw first years made 160k. and the kicker is that first years at miles at the time made 120k. so the new partners were barely making more than the first years.
there was a big rainmaker at the firm who got thrown out for fucking multiple clients and his secretary, and he only made $700k. i did know of one massive rainmaker who supposedly made $3 mil.
even within the vault 100, the picture sometimes isn't as rosy as half a mil for income partners. i was in the DC office of baker hostetler (i think they're ranked vault 65 or something) for several years and made partner there. my fifth year as a partner, i was making about $360-375k. i was a pure service partner so because i had no book, my pay was shit. i think by anyone's definition, baker is biglaw but i was making nowhere close to 450k.
(http://www.autoadmit.com/thread.php?thread_id=5549004&forum_id=2...id.#47823367) |
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Date: July 9th, 2024 8:15 AM Author: Talking Unholy Macaca Liquid Oxygen
it really is insane. my situation was a bit of an outlier, though. i worked on a team of a huge rainmaker (i think he has like a 10-15m book), who has a deal with the firm where all travel expenses are absorbed by the firm, not the clients, and no lawyers bill for travel time.
i never thought about this until i left, but the travel expenses - mine in 2019 were about $175k- are reflected on the individual lawyer's numbers. so rainmaker was getting the benefit of the origination that i brought in (as well as the other lawyers on his team), but the 6-8 people he had servicing his book were getting their profitability whacked to shit because of the expenses and inability to bill for travel.
i suspect other service partners at BH make more like 425-450, but it's still less than you'd expect because BH is definitely solidly within the v100 and i think everyone agrees that it fits the definition of biglaw.
i stole nearly $1m of his book and ran off to midlaw. i'm equity and should make close to $500k this year. i'm good with that because it's much more money that i need or ever thought i'd make.
(http://www.autoadmit.com/thread.php?thread_id=5549004&forum_id=2...id.#47823432)
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