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| *Ostroff, Fair and Company>>>Law & Legal |
How are paid associates in law firm? |
How are paid associates in law firm? Commission, wage, stock option? i am an associate and i get paid a salary and i am compensated for each hour i work, plus i get bonuses and attorney's fees depending on the type of case. i work about 50-55hrs/wk but when i am at work i do things like answering people's questions on ask yahoo! Associates usually draw a paycheck, as employees of any other business would, without regard to the number of hours each one works. New associates in big firms are expected to put in brutal hours as a matter of course. 80 or 100 hours a week is not unusual in major firms in New York, Boston, or Los Angeles. Those who have done extremely well may get some sort of bonus, but generally nothing to do with ownership of the firm. Partners do not hand out shares or options lightly. As stated above, generally, associates are paid an annual Salary (wage). Many firms will also promise bonuses. The article below discusses some of the current information on associate salaries -- pretty interesting reading. http://www.law.com/jsp/article.jsp?id=11... |
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