Hi,
I'm an attorney in a small family-owned firm in a rural state. (50k people in town, about that many in surrounding towns put together) I've practiced for 21 years. It's a general practice, but like many small firms, I do quite a bit of family and criminal law. I've practiced with my Father my entire career, and now he's retiring. I'm nervous and unsure which direction to proceed, i.e., keep on alone, hire a partner or associate, apply for a Judicial position.. I'm reaching out to similarly situated peers to get an idea of what you might have done, and get any advice you might have.
Numbers: He and I have averaged 300-370k in gross income, each, for the past several years. Out of that, we pay ourselves $143k, plus approximately 5k each for gas/repairs, 20k each for retirement, and around 20-50k each as an annual bonus. How does this compare to others in similar sized areas? Also, what have you guys found in terms of hiring someone new? Obviously if I hired someone with an established clientele who brought in what my Dad did, little would change, but what should i be offering if I hire someone, and how much will that throw me off and for how long? I could likely get on as a judge making about 130, which is probably less work, but also less pay, etc.
Any advice would be great!
Where do I stand? Forum
-
- Posts: 428793
- Joined: Tue Aug 11, 2009 9:32 am
Re: Where do I stand?
Personally, I'd love to be a judge, hah. I think there's a lot of fun to be had, stability, and perks in general (benefits and great hours).
I live in a rural area but work in the city. Surprised you are able to pull that much in tbh. I think most of the folks I know here that have wheeling and dealing shops are making around 80-100 in our area- but my town is like 200 people and I think the whole county is around 50k.
I live in a rural area but work in the city. Surprised you are able to pull that much in tbh. I think most of the folks I know here that have wheeling and dealing shops are making around 80-100 in our area- but my town is like 200 people and I think the whole county is around 50k.