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| Re: Philly compensation |
Jay Gatsby |
July 02, 2008 06:29 am |
No idea what Cozen O'Conner pays its non-equity partners, but $200K plus a bonus doesn't sound unreasonable at all. Anything less would put you below what the math would indicate (i.e. $5k x 12-13 years in practice). Regardless, I would base your math more on a percentage of revenues generated (i.e. $300/hr x 2,000 hrs x 37.5% = $225,000). I used 37.5% rather than the standard 1/3 because the latter typically applies to associates, not partners).
All of the foregoing is based on working someone else's clients. You should also negotiate what percentage of the revenues you generate from your own clients. The rule of thumb for junior partners starts at 10%, though I've seen up to 33% for steady clients.
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