Have a yearly review coming up at a firm (top 30-40 firm (not MC, SC or US) that I have been at for 2 years that I need advice on how to best approach. I am at Of counsel/director level and have some of my own clients that I have brought in and this year billed in the low 6 figures in respect of fees.
I can’t say I am entirely happy at the firm (as below);
- Partners do not really like me cultivating my own relationships/working on work for my own clients – they prefer I do work for their clients. Knock on effect is that I have less time to utilise my existing contacts;
- No real junior support on work that I bring in – to free me up to bring in bigger jobs;
- As far as I am aware, no one else at my level in the team is bringing in clients/fees of their volition and the fees are allocated to a partner in the team – that partner has to do no real work/client management for these fees;
- The firm has a hybrid wfh policy which admittedly I have not really been complying with – some weeks I do 1 day in the office, some weeks more, some weeks no days. However the work is always done, my utilisation is one of the highest in the team and I meet financial targets;
- I prefer wfh as it allows me some work/life balance – if I have plans in the evening etc. in the office it is frowned upon to leave at 5.30pm. I do not want to be in the office 10-12 hours a day the same way the partners are (I appreciate a pyramid structure is based on the people at the top squeezing people below them).
I am doing research on salary and bonus levels but I do feel I should get some flexibility on the wfh/autonomy because of the fees I have brought in. I enjoy the BD side but just don’t have the time to do this because the partners just load on the work. How to make this point to the partners in the right way during the review meeting? Undecided yet whether I want partnership at this firm...or at all.
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Just say ‘don’t know’
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We're gonna leave that there ....
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What's 'low 6 figures'?
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Very much so
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118,240
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Close Jelly,120 to 140k
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What do you want from the job? What can the appraisor give you?
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Mmm'k.
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You're doing great.
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Sounds like reasonable billing for first three months of the year but I am not in a top 40 firm.
However, your points are contradictory. Either you are wanting to play ball, exploit every opportunity and need support to help you do that in your 26 hour Yorkshireman days or you actually want a life in which case I doubt appraisals matter as you are in the wrong career.
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Are you a millennial? Decide what you want and proceed accordingly. Sounds like you want perma choice. Up or out.
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I assume the low six figures is the billing for his own clients with additional billing and work being on top.
OP your problem is you don’t seem to know what you want or what your firm wants of you.
Some thoughts.
There is always a client partner who will always get credit for client fees even if originated and done by you as non partner. That’s just how it works.
Bringing in clients is great if (and only if) you want to talk about partnership with the firm (and if you want it and you’ve not yet had a tap on the shoulder then you need to bring it up).
The fact the firm doesn’t seem to have initiated this conversation with you might be telling.
Also, you seem not to know what you want. Clients and billing = bonuses and partnership, but you’re wibbling on about wfh (and it’s not clear if your current patterns are an issue or not with the firm).
Is the firm that interested in your clients? Are they of a level that could generate serious cash now or are they just a topping on the institutional clients they really want?
If you like wfh and work life balance then carry on as you are and push for a decent bonus for bringing in work.
If you want to be a partner then have the conversation.
If you want to be a partner somewhere else then work out if your clients will go with you and where they may be better served (a smaller firm?)
If you don’t do this pre thinking you will get nothing out of your appraisal
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