Amy Cozatt’s Post

Associates: Is that Big Law salary worth it? Our latest blog post helps you crunch the numbers and consider your options. #LegalCareer #WorkLifeBalance https://lnkd.in/gBtd8HJE

Calling all new associates! Have you considered the true value of your Big Law salary? Our new blog post breaks down the $225,000 starting pay and what it really means for your life. We discuss the transparency of lockstep systems, the importance of non-billable work, and the potential for additional bonuses. But we also address the elephant in the room - lifestyle creep and the "golden handcuffs" that can trap you in a high-stress job. Explore alternatives and learn how to align your career with your personal values. Your future self will thank you! #LegalProfession #CareerAdvice #BigLaw https://lnkd.in/eiGyDx6V

𝙒𝙝𝙮 𝙖𝙧𝙚 𝙬𝙚 𝙨𝙚𝙚𝙞𝙣𝙜 𝙢𝙤𝙧𝙚 𝙞𝙣 𝙝𝙤𝙪𝙨𝙚 𝙡𝙖𝙬𝙮𝙚𝙧𝙨 𝙬𝙖𝙣𝙩𝙞𝙣𝙜 𝙩𝙤 𝙧𝙚𝙩𝙪𝙧𝙣 𝙩𝙤 𝙥𝙧𝙞𝙫𝙖𝙩𝙚 𝙥𝙧𝙖𝙘𝙩𝙞𝙘𝙚 𝙩𝙝𝙚𝙨𝙚 𝙙𝙖𝙮𝙨? The one answer we are hearing again and again is that it's for career progression reasons. A lot of senior in house lawyers feel that their careers, and often hand in hand with this, their salaries, stall. This often hits at a time when their law mates are partners in law firms and are starting to reap the financial rewards of their hard yards in private practice. The interesting thing is that we are seeing more senior in house lawyers who can put together a compelling business case for partnership if they can bring a key corporate relationship to the firm or can solidify a relationship with a key client. The challenge is often being able to quantify the amount of work that will come with them, nearly always the cornerstone of a partnership business plan. #glassceiling #careerprogression #inhousecounsel #lawfirmpartners

𝙒𝙝𝙮 𝙖𝙧𝙚 𝙬𝙚 𝙨𝙚𝙚𝙞𝙣𝙜 𝙢𝙤𝙧𝙚 𝙞𝙣 𝙝𝙤𝙪𝙨𝙚 𝙡𝙖𝙬𝙮𝙚𝙧𝙨 𝙬𝙖𝙣𝙩𝙞𝙣𝙜 𝙩𝙤 𝙧𝙚𝙩𝙪𝙧𝙣 𝙩𝙤 𝙥𝙧𝙞𝙫𝙖𝙩𝙚 𝙥𝙧𝙖𝙘𝙩𝙞𝙘𝙚 𝙩𝙝𝙚𝙨𝙚 𝙙𝙖𝙮𝙨? The one answer we are hearing again and again is that it's for career progression reasons. A lot of senior in house lawyers feel that their careers, and often hand in hand with this, their salaries, stall. This often hits at a time when their law mates are partners in law firms and are starting to reap the financial rewards of their hard yards in private practice. The interesting thing is that we are seeing more senior in house lawyers who can put together a compelling business case for partnership if they can bring a key corporate relationship to the firm or can solidify a relationship with a key client. The challenge is often being able to quantify the amount of work that will come with them, nearly always the cornerstone of a partnership business plan. #glassceiling #careerprogression #inhousecounsel #lawfirmpartners

Today’s tip for young lawyers: Charge for your consultations unless the matter is going to be taken on contingency. I typically tell potential clients my hourly rate and let them know they can pay in advance for a 1/2 hour consult. It serves 3 purposes: 1. It weeds out those folks who have no intention of paying you or who otherwise cannot afford your rates - thus saving you valuable time. 2. Those who do pay the consultation fee are more likely to retain you, as they are already invested in having you handle their case. 3. It will keep the consult to a short, clearly defined timeframe, allowing to you schedule the rest of your day accordingly. #advice #younglawyers #lawyering

𝙒𝙝𝙮 𝙖𝙧𝙚 𝙬𝙚 𝙨𝙚𝙚𝙞𝙣𝙜 𝙢𝙤𝙧𝙚 𝙞𝙣 𝙝𝙤𝙪𝙨𝙚 𝙡𝙖𝙬𝙮𝙚𝙧𝙨 𝙬𝙖𝙣𝙩𝙞𝙣𝙜 𝙩𝙤 𝙧𝙚𝙩𝙪𝙧𝙣 𝙩𝙤 𝙥𝙧𝙞𝙫𝙖𝙩𝙚 𝙥𝙧𝙖𝙘𝙩𝙞𝙘𝙚 𝙩𝙝𝙚𝙨𝙚 𝙙𝙖𝙮𝙨? The one answer we are hearing again and again is that it's for career progression reasons. A lot of senior in house lawyers feel that their careers, and often hand in hand with this, their salaries, stall. This often hits at a time when their law mates are partners in law firms and are starting to reap the financial rewards of their hard yards in private practice. The interesting thing is that we are seeing more senior in house lawyers who can put together a compelling business case for partnership if they can bring a key corporate relationship to the firm or can solidify a relationship with a key client. The challenge is often being able to quantify the amount of work that will come with them, nearly always the cornerstone of a partnership business plan. #glassceiling #careerprogression #inhousecounsel #lawfirmpartners

Did you have a class in law school that taught you the foundation of starting your own law firm and hiring employees? You’re not alone.... most did not. Join John Unruh, Dave Crutcher and myself for a talk for law firm owners or managers who may find being an employer daunting. We’ll break down the basics and present them in a way that you can be assured about your own best practices. Learn how to confidently: * Avoid common pitfalls in hiring * Learn which wage and hour laws are most likely to land you in hot water * Harassment and Discrimination. Still? Yes, still * Learn why you shouldn’t think of “at-will employment” as “at-will employment” * Everything you wanted to know about ERISA but were afraid to ask The Bar Association of San Francisco presents this talk on Wednesday, October 16, 2024 11:30 a.m. - 12:00 p.m. The Virtual Program is 12:00 - 1:45 p.m. Sign up at: https://lnkd.in/gp9m42jg

I’m not out to trash anyone but, for the record, “Biglaw” is not equal to “best lawyers.” It means expensive lawyers, some who are good, some who are mediocre, and some who are not good. I was wildly obsessed with landing a Biglaw job when I was in law school. I did all the right things, top grades, law review, and then the economy went to shit. I worked at a tiny plaintiff’s employment law firm down an alley in a former storage room for the first 6 months after graduation for a low hourly wage. That experience taught me a lot, but I carried a chip on my shoulder for years, feeling the need to “prove myself.” Now, after being involved with a few billion dollar cases, I’ve seen it all. The good, the bad, the ugly. I’ve seen the supposed “best of the best” lawyers charging over $1000 an hour concoct utter trash in work product. I’ve seen lawyers work themselves into the ground for that money. Now I get why someone would want to open a small firm. Do good work on your own time for the clients you want to work with. The same is true with scaling companies. Sometimes you sell your soul for it. So, remember that bigger isn’t always better. Sometimes it is … just not always in law or business. #lawyerlife #lawfirms #biglaw

🚀 Launching Our Series on Law Firm Compensation Best Practices! 🚀 As law firms strive to attract, retain, and motivate top-tier talent, the way they handle associate and partner compensation goes beyond mere numbers—it involves blending the goals of legal professionals, the economic pulse of law firms, and the deep-rooted values of organizational culture. We are delighted to present the first part of our series: "Unraveling the Threads: Navigating Law Firm Compensation in a Changing World." This series guarantees to bring clarity to the crucial factors that shape effective compensation strategies. Check out the first post here: https://bit.ly/49DLViO

No surprise that compensation is the top reason associates stay at their law firms. If you're a firm owner and need help optimizing your finances so that you can offer a more competitive salary to your attorneys, I can help! #lawfirm #lawfirmowner #lawyersalary