PI commission structure
Hello all:
This will be deleted within the next 24 hours but I am looking for insight after my yearly review. I am currently a salaried employee. I make 110k a year with a 12% bonus on any fees earned over 1 million. This is paid in one lump some at the end of the year. This does not include referral bonuses where I get 40% of the fee.
Offer A: increase my base to 125k everything stays the same.
Offer B
The boss wants to move the attorneys to a 100% commission plan. I would be the first associate. I would receive a draw of 80k payable weekly. I get a fee of 14% up to 1 mil and then 16% of anything over the mil. Commission is paid monthly. I would also get my commission earned for last quarter (about 25k). Referral fees were not discussed but I assume they remain. I have not received anything in writing as we are in the discussion phases.
This is my first full year with the firm. Recent turn over has afforded me the opportunity to grab some great cases. I am on track to do 2 mil + this year.
Next year I do not know what to expect but I am confident I can hit a million given the fact that I love what I do and can hustle. I am also frugal and will save a good bulk of my commission earned this year to cover the reduced pay every week.
I wanted to get everyone’s opinion on a regular salary vs commission with a draw and what you all would recommend. TIA