3 years as a solo--here are my numbers
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Poast new message in this thread
Date: May 23rd, 2022 10:42 PM Author: Greedy Lavender Round Eye
Legal experience prior to going solo: 4 years sh!t law; 4 years govt.
Location: NY/NJ/CT
Lol school: top 50
Solo practice area: RE/small business transactions and the occasional crim coverage
Overhead: 12K/year for rent (small office within a larger office; shared concierge); ~5k misc. and another 7-8K to other attorneys for coverage/assistance.
Subscriptions: none. If I need to do heavy research/write a motion I just outsource to one or two sad sack solo who can't find clients if their life depended on it. I pay them about $75/hour.
Malpractice ins: none
Work week: billables, not sure--I'm mostly flat-fee; but I work about 25-30 hrs a week
First 12 months: 126K gross; 92K* net (I spent a lot on advertising, computers, and profit sharing with other attorneys. etc)
Month 13-24: 138k gross; ~ 110-113k* net
Month 25-36: 165k gross; -140k* net
*I take in cash every now and then; $100 to $200 for consults, $500 here and there for quick work like reviewing a K, etc. I pocket these and don't keep track of them.
Thoughts? I'd like to make more $ but I do like the flexibility and light workload. I work 4 days a week and pretty much take off whenever I want.....
(http://www.autoadmit.com/thread.php?thread_id=5115417&forum_id=2#44562147) |
Date: May 23rd, 2022 10:59 PM Author: Aphrodisiac theater
looks good. a solo told me to look for significant jumps every 3 years. that was the case for 4x, but probably will not happen outside of increase in rates as ive gone to taking in less work. i hope you are satisfied with your income. whether its good really depends on COL.
solo 14+ years
(http://www.autoadmit.com/thread.php?thread_id=5115417&forum_id=2#44562247) |
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Date: May 23rd, 2022 11:23 PM Author: Greedy Lavender Round Eye
Pre-covid I had pens and calendars printed and handed it out to small businesses; joined SBAs; FB and Google ads, referrals from other Atty’s etc.. I dropped close to $8k I believe, plus 100+ hours networking and doing guest-speaking year 1.
My FB page is at ~4,600 people.
I stopped advertising around month 12, except for the occasional article and FB post plus ~$600 a year to keep 2 websites going. A large chunk of my clients the last 2 years have been referrals from former clients.
(http://www.autoadmit.com/thread.php?thread_id=5115417&forum_id=2#44562382) |
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Date: May 23rd, 2022 11:41 PM Author: Flirting razzle antidepressant drug
a) Why do you have 2 websites;
b) Why does it cost so much to keep them running?
c) What was your strategy for increasing your FB page? My has remained stagnant at 400 for a long time.
(http://www.autoadmit.com/thread.php?thread_id=5115417&forum_id=2#44562468) |
Date: May 24th, 2022 6:58 AM Author: red turdskin crackhouse
>Malpractice ins: none
go on...
(http://www.autoadmit.com/thread.php?thread_id=5115417&forum_id=2#44563167) |
Date: May 27th, 2022 12:50 AM Author: bearded ruddy location dingle berry
I'll play.
Legal experience prior to going solo: 6 years biglaw
Location: CA
Lol school: top 50
Solo practice area: entertainment/advertising
Overhead: 12K/year for rent; 17k misc, 5k for health insurance.
Subscriptions: Westlaw, Lexis, Adobe Pro, Clio, Stamps.com, WeTransfer
Malpractice ins: $2300/yr
Work week: something like 25 billables
First 12 months: ~$90k net
Month 13-24: $330k net
Month 25-36: $415k net
Probably will do $350k this year.
(http://www.autoadmit.com/thread.php?thread_id=5115417&forum_id=2#44581885) |
Date: May 27th, 2022 1:07 AM Author: Low-t Parlour French Chef
For me from what I remember, my first nine months I made 10k. then the net 4-5 months I made like 110k
Then next round of cases over a like 15m period I made like 170k
Then third round of cases 300k
(http://www.autoadmit.com/thread.php?thread_id=5115417&forum_id=2#44581955) |
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