Tuesday, November 29, 2016

Comp Survey 2016

The last two years we have done a magic numbers survey, but this year we decided to mix things up and do a compensation survey. Go here to let us know how long you've been practicing and how much you're making. We'll share the results before Christmas...

In the meantime, feel free to continue to discuss the Supreme Court's antics or anything else going on out there, just remember to keep it work-appropriate and slander-free.

29 comments:

  1. I like this better than magic number. Most of us don't work at the firms listed in the magic number. I'm a 5th year making about $120k, and I wonder where I stack up. I suspect a lot of my peers lie about their salaries, but I could be wrong. Based upon what head hunters offer me, I suspect that my salary is above average, but I'm not really sure. This will be illuminating.

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  2. So, my family has decided to stop buying mandatory health insurance for my wife and kids, due to the ever increasing costs. We are going to pay the penalty (only if we get a refund, which is unlikely). My employer provides my health insurance, but it is way too expensive to buy for my family. We have been insured by Sierra Health, but the costs keep rising. We pay more than $6,000/year in premiums, only to have the privilege of then paying $10,000 in deductibles before the insurance actually kicks in. The penalty will by approximately $3,000. I know there is a risk in going uninsured, but (knock on wood), my family has always been very healthy and rarely goes to the doctor. Anyone else doing this due to the cost of health insurance?

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    1. I've thought about it. Our premiums now total $13,000/year and that's for a plan with pretty high deductibles/co-insurance. Unfortunately, I have four kids and can't take the risk of going without. Before the *Affordable* Care Act, my premiums were $7200/year and we had a much better plan. Thanks, Obama.

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    2. Hell no. And here's why (true story): Dad was in law school 25 years ago. No money was coming in, and the situation was temporary, so they forewent health insurance (just for the time being, of course!), for themselves and for their kids. Flash forward to Thanksgiving break, 2L year. We traveled to my uncle's house, 350 miles away. Mom and Dad in Dad's little commuter car, the rest of the kids driven by my older brother. Retread shows up in the middle of the highway, brother avoids it, overcorrects, and rolls the suburban. Boom. Lifeflight, ICU and massive medical bills for him. Emergency care for just about everyone else.

      I'm never going without health insurance for my family. It. Will. Not. Happen.

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    3. I thought my family was fairly healthy until we found out my son had a birth defect which required brain surgery and has required extensive medical care since that time. He was 11 years old when we discovered the problem. The biggest benefit of insurance was not the actual payments, but the negotiated rates with the hospital and surgeons. They billed over $200,000 for the surgery and hospital stay, but the insurance company rate was $30,000. Even though I ended up paying close to $10,000 with my share and the deductibles, it was possible. The hospital told me that it would violate their contracts with the insurance companies to give a discount to people who pay on their own. There's no way I could have afforded the $200,000 or the many bills since that time at a non-discounted rate.

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    4. This is a common way to end up in bankruptcy.

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    5. @ 10:32: Isn't it THE most common way to end up in bankruptcy?

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    6. I can't believe someone would bitch about $6k a year. That's nothing. I paid $14k for my family this year, and while it sucks, there's no way I would go without health insurance. As a provider, I have a duty to protect my family's financial security and provide for their health. I can't be a responsible parent and roll the dice, especially where I have the $14k to pay. I'd rather pay the $14k than risk financial ruin or not being able to obtain crucial and necessary treatment for my kids.

      Obamacare sucks. But the Republicans have had 30 years to come up with an alternative, and they have nothing to show for it except the absurd idea that we all just save tens of thousands of dollars in HSA's, because you know how easy that is for a family of four making $60k a year.

      As the Boomers age, this problem will only get worse. The rest of us will continue to subsidize their health care. The Republicans may actually make the problem worse. At this point, the GOP has had their chance, they've blown it. Let's just do single payer.

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    7. I agree with 10:40. I understand Obamacare sucks. During the deliberations for healthcare in 2009, they discussed single payer option but canned it. If they had that it wouldve at least saved a lot of people money who couldn't afford the higher stuff. The biggest issue is that health insurance is a for-profit industry. That alone is a conflict of interest, where you are pitting the bottom line of the insurance company against the lives of those in poor health. If health insurance as non-profit, there would be more money in the system covering people and keeping premiums low. But since (mostly) republicans have lobbyists from such industries, that will never happen. And lets be real here, Republican approach to healthcare has been shit. Even they like that fact that obamacare allows children to stay on parents insurance until 26 and ridding the policy of pre-exisiting condition exclusion. My question is, why did they not come up with that during the Bush era??? Because they don't want to piss off the people who fill their campaign coffers..

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    8. 9;30, would your employer pay you the difference if you choose not to use the employer provided insurance? And have you tried pricing bronze, silver, gold plans on Nevada's ACA exchange? If your employer pays you for not using their healthcare, you may be able to price out a plan on the exchange that, if not the equivalent of your previous plan, is at least better than no health insurance at all. (Assuming, of course that all of this is not repealed as of 1/22/17, in which case insurance rates will all magically drop to mere pennies and we'll all get a free pony, too!)

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    9. Uh, 11:47, have you looked at the plans on the ACA exchange? They're shite, every one of them.

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    10. To all of those who complain that their raise is not big enough or bonus is not big enough, your Bonus and raise went to pay the increases in health insurance. @11:47-- we do this at our firm. If you would like to opt out of the employer insurance, we will be fine paying you a proportionate amount of the savings (with the understanding that the increase in salary comes with additional taxes for the employer and the employee).

      I have carried an HSA and catastrophic coverage for years and have saved so much money over the years. Is there a catastrophic risk? Sure. Life is replete with risk. But the margin between the amounts of money being paid to subsidize the uninsurable, the actuarial risk that my family will need catastrophic care and the penalties are so narrow that it is worth the risk.

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    11. I had to cancel my family insurance plan. I hope Trump gets rid of Obamacare completely and deregulates the entire medical industry. Deregulation works. Yes, I know, I dream.

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    12. Health insurance should be seperated from employer based to individual based with portibability. In addition to the simple issue of breaking the lock an employer may have over the employee for fear of loosing insurance, why should an employee doing the same job with the same results earn a greater total compensation because they have a spouse/children/both?

      Paying them a salary for their work and having them purchase their own insurance (along the creation of buying pools to get the benefits of group plans) makes more sense and is more equitable.

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  3. How much someone makes and bonuses are my least favorite part of this blog. WWLB was a little too much but bonuses and salaries are tacky to declare and discuss. Just one 25 year attorneys opinion. I realize the younglings are much more interested in it.

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    1. But don't you understand?! I heard a rumor from a Kolesar Associate who heard from Snell Associate that Holland & Hart associates heard that Fennemore Associates make more than Akerman Associates and are going to demand their just desserts. I guarantee Bob Eglet, Randall Jones and Frank Schreck aren't posting their compensation on this board.

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    2. That's because Eglet and Schreck are the beneficiaries of the information asymmetries in law firms. There are reasons other than "tacky" bragging for publicly discussing compensation. This is especially true amongst the "younglings."

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    3. Agreed. The only people who benefit from silence and suppressing reasonable discussion of compensation issues are the fat cats at the top.

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    4. Nobody is silencing or suppressing your speech. You are free to be a douchebag if you want and we are free to identify your nozzle and call a douche a douche.

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    5. I agree with 4:23's point. I think that's the best value these blogs bring -- clarity of the black box compensation structure without the need to be the guy that talks about salaries in real life conversations.

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    6. I'd rather be déclassé than ripped off or complicit in my friends being ripped off. 6th year. Small firm. $120K total between base and bonus.

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    7. 6th year, large firm, about $125k with bonus. Insurance for my family of four is about $10k a year.

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  4. People who discuss how much they make or are worth are total tacky shallow cads and losers. How many beers you can drink is a much better topic instead of the greedy money hungry d-bags.

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    1. I can drink as many beers as I have dollars. Which means I can drink 120K beers per year.

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    2. Dollar beers - you are crazy!

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  5. What is going on with the bar's login. "Unavailable until Dec. 8" or something. Does this mean my free access to Fastcase is also unavailable?

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  6. Go to www.nvbar.org, mouse-over 'member services', click on 'Legal Research', then click on 'Fastcase'. then click on the link in the 'Login' section named "State Bar of Nevada Members Login Page". Then bookmark that bastard and go straight there next time to avoid all this BS.

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  7. I just called the bar and lady said their vendor mailed notices before the invoices were ready. You can go to fastcase as noted above, 10:10, or call the bar and they'll give you temporary log in information. She was very helpful and apologetic. I'm sure they're not happy with their vendor right now.

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