Compensation and Benefits
In recruiting experienced attorneys to join our ranks, our goal is to provide competitive options that are attractive to you as a candidate, recognize your career trajectory and set you up for success as a member of the Varnum team. We will work with you to determine a path that makes the most sense for you and for the firm.
Lateral hires with more than eight years of practice experience typically fall into two categories: counsel or income partner.
Counsel compensation consists of the following components:
- An initial base salary, determined by billing rate and annual target for personal productivity
- This target addresses the possibility for collection delay in the lateral transition
- Bonuses recognizing efforts in two categories:
- A personal production component, reflecting receipts in excess of the target
- A business development component, reflecting work performed for clients for which you are the billing attorney
Income partner consists of the following components:
- A flat salary/monthly draw determined by billing rate with a personal fee receipt expectation
- Bonuses recognizing efforts in two ways:
- A bonus based on specific criteria set forth annually
- A discretionary bonus dependent on personal production and business development
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