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RealTalk: Often better to be Counsel than NonEquity Service Partner
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Date: September 26th, 2023 5:47 AM Author: Godawful sex offender Paying for own healthcare + hour pressure + shitty comp metrics + more nonbillable work.... so far better to be counsel. Obviously firm / group specific. thoughts? |
Date: November 16th, 2023 4:41 AM Author: Godawful sex offender (http://www.autoadmit.com/thread.php?thread_id=5412952&forum_id=2#47062071) |
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Date: August 22nd, 2024 4:31 PM Author: Godawful sex offender yep (http://www.autoadmit.com/thread.php?thread_id=5412952&forum_id=2#47995018) |
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Date: August 22nd, 2024 4:50 PM Author: chest-beating appetizing pisswyrm (http://www.autoadmit.com/thread.php?thread_id=5412952&forum_id=2#47995100) |
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Date: February 5th, 2025 6:45 AM Author: Godawful sex offender how is healthcare so fucking expensive (http://www.autoadmit.com/thread.php?thread_id=5412952&forum_id=2#48624037) |
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Date: February 5th, 2025 7:01 AM Author: flatulent kitchen party of the first part this is true. when i was a partner in biglaw (pretty much nonequity, but we had that one tier bullshit. i was 10% equity, which doesn't count) and there was a guy in my group who was counsel, got put up and dinged. he was way better off than i was. made about as much as i did, but remained a w-2 employee while i was a k-1.
he stayed, i left. he makes 500k now and doesn't really do legal work. he basically does union avoidance training for clients. hilarious that he gets paid half a million to do work that someone's secretary could do if given enough training.
i wound up wishing often that i'd been denied as well so they could promote me to counsel. shit, they'd have likely given me a big raise to compensate for dinging me for partner. |
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Date: February 5th, 2025 9:11 AM Author: chest-beating appetizing pisswyrm But isn't he shackled with the Golden Handcuffs?
Other than this firm, WTF is going to pay this guy $500k to do something that could be performed by a well-trained paralegal?
He has no equity in the firm and is a wage-cuck. The moment the firm needs to shed some weight, he's gonna get the axe. |
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Date: February 5th, 2025 9:27 AM Author: flatulent kitchen party of the first part he has no skills. if he left this place, he'd probably be able to land in midlaw because he does have some business (which he can't service himself).
that whole group depends on a 71 year old rainmaker. he's gonna retire soon, and i dunno what happens after that. there's one guy in there who's my age, mid 40s, who is a good rainmaker, but the other clients may scatter to the winds. if so, my friend is in trouble.
he's like 51 though and his wife cashed out of a wall st gig worth a few million. he's coasting until the guy retires and just gonna either not work or do some bullshit job, so he says anyway.
i regret leaving often bc i'd have inherited like 2 mil in business, but given that the whole thing may crash over there, i probably did right by leaving (and instead of inheriting 2 mil, i stole 1 mil and leveraged it into more money back in 2022, so that may be the better deal overall). |
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Date: February 5th, 2025 7:02 AM Author: rambunctious judgmental corner useless brakes You, a 10th Senior Associate, Owe Both Awe. (http://www.autoadmit.com/thread.php?thread_id=5412952&forum_id=2#48624055) |
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Date: February 5th, 2025 9:49 AM Author: motley toilet seat No way. Everyone gets promoted to fake partner these days so it looks bad if you could only manage counsel. (http://www.autoadmit.com/thread.php?thread_id=5412952&forum_id=2#48624334) |
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Date: February 5th, 2025 10:31 AM Author: Cerise spectacular brethren heaven doesn't fake partner have to pay for his own healthcare now? and no bonuses? (http://www.autoadmit.com/thread.php?thread_id=5412952&forum_id=2#48624434) |
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Date: February 5th, 2025 11:15 AM Author: flatulent kitchen party of the first part often, yes. i was at a "one tier" biglaw firm (see above) and was treated as equity when it came to all the bad shit. benefit costs, taxes, etc.
i am likely going to a midlaw firm as a nonequity and was kind of surprised to learn that all partners are k-1 and i believe have to pay full freight for benefits. i'd assumed that nonequity partners were still treated as employees.
fwiw, baker hostetler evidently didn't shaft nonequities with all the k-1, benefit bs back when they had a two-tier system. |
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Date: March 18th, 2025 9:24 PM Author: Godawful sex offender v20 / non-equity / paying $4k per month for healthcare (http://www.autoadmit.com/thread.php?thread_id=5412952&forum_id=2#48760464) |
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Date: November 5th, 2025 6:07 AM Author: ;::;:;;::;;;;;:::: The best part is the generous "loan" they offer you to become equity.... (http://www.autoadmit.com/thread.php?thread_id=5412952&forum_id=2#49403052) |