jerichosmom
Shiny_Rock
- Joined
- Sep 23, 2008
- Messages
- 241
I've never posted in this section so forgive me if I break any rules...but I really need some outside opinions on this. Thanks in advance.
My husband is leaving a very toxic work environment for something hopefully better. Here are his options. We need to decide in the next few days as both firms are expecting an answer. He's currently an income partner at a very large (top 10) law firm that is quietly shutting down his practice group.
Option 1 - Mid-sized firm only 6 miles away from home. 27 attorneys, coming an as income partner. The firm seems to have a very strong core group of experienced attorneys and steady corporate clients. In 2 years, they will revisit his offer and adjust accordingly...meaning he may be up for equity partner and will get a much bigger share of profits. Gets 15% of whatever he brings in plus a base salary. He's never worked (or even heard of) this firm so it's unchartered territory.
Option 2 - Small, boutique firm consisting of only 2 partners and 3 associates of which he's worked with and has known the partners for almost 20 years. Same salary as above but will revisit the arrangement in 6 months and possibly be a named/equity partner within a year. Work load seems to be consistent but DH will really have to hustle to bring in clients which he's never had to do before. My concern is the lack of solid associate help unlike option 1 and the constant stress of finding new business. If he makes equity/named partner, his share of profits could be at the 50% level since there is so little overhead.
DH is very risk adverse when it comes to personal situations which is why Option #1 is an ideal. But, it will take years (if it even happens), for him to reach the same career and financial level that Option #2 presents.
Please give me your thoughts.
My husband is leaving a very toxic work environment for something hopefully better. Here are his options. We need to decide in the next few days as both firms are expecting an answer. He's currently an income partner at a very large (top 10) law firm that is quietly shutting down his practice group.
Option 1 - Mid-sized firm only 6 miles away from home. 27 attorneys, coming an as income partner. The firm seems to have a very strong core group of experienced attorneys and steady corporate clients. In 2 years, they will revisit his offer and adjust accordingly...meaning he may be up for equity partner and will get a much bigger share of profits. Gets 15% of whatever he brings in plus a base salary. He's never worked (or even heard of) this firm so it's unchartered territory.
Option 2 - Small, boutique firm consisting of only 2 partners and 3 associates of which he's worked with and has known the partners for almost 20 years. Same salary as above but will revisit the arrangement in 6 months and possibly be a named/equity partner within a year. Work load seems to be consistent but DH will really have to hustle to bring in clients which he's never had to do before. My concern is the lack of solid associate help unlike option 1 and the constant stress of finding new business. If he makes equity/named partner, his share of profits could be at the 50% level since there is so little overhead.
DH is very risk adverse when it comes to personal situations which is why Option #1 is an ideal. But, it will take years (if it even happens), for him to reach the same career and financial level that Option #2 presents.
Please give me your thoughts.