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The Four Stages of Sales Compensation Structures in Early Stage Startups • Tomasz Tunguz
Your startup is just getting off the ground. You might have a few account executives and a sales leader in place; maybe some revenue and a handful of customers. The sales team costs real money, and the question before the company is: how do you know what quota plan to assign to the account executives?
ESB6  CH10  sales  salesmanagement  compensation  incentives 
18 days ago by jeromekatz
Big Law Should Raise Partner Billing Rates 10+ Percent Now |
The connection between delegation and partner billing rates isn’t entirely obvious but it’s real. Many partners recognize that much of the work they do is not true partner-level work. Hence, they are wary about charging full partner billing rates; but rather than delegating (as they should), they appease their conscience by shaving a little off their billing rates. Despite this back-pressure, the failure to delegate results in unnecessarily-increased client fees and also denies associates learning opportunities and disinclines partners from doing that which they should be doing, i.e. going out and finding more high-quality work. Raising partners’ billing rates assertively will push back on this dynamic, increase delegation, lower fees, and thus help stem the contraction in market demand.
On the issue of re-balancing where margin is generated, let’s again start with two observations. The first is that, over time, technology will continue to reduce the demand for junior lawyer time relative to that of senior lawyers. The second is that today’s billing rates generate higher margin on junior lawyer time than on senior lawyer time. To see this latter, take a look at the amount by which billing rates exceed compensation (converted to an hourly equivalent) by lawyer cohort. What you’ll find is that billing rates are 4.5 to 5.0 times compensation for junior associates and only 3.5 to 4.0 times compensation for senior associates and counsel. Again, linking the two observations: Big Law is on a path to see margins and profitability diminish as technology continues to erode the demand for junior lawyer time.

Big Law’s margin structure is befuddling. It is inverted relative to all other businesses—all others charge a higher mark up on their higher-value products—e.g. in the rag trade, the mark up on haute couture is much higher than that on prêt-à-porter (ready-to-wear). The inversion is the cumulative effect of many years of raising associate rates more than partner rates while being careful not to let senior associate and counsel rates come too close to junior partner rates. Clients are instinctively aware of the nonsense that associate billing rates have become; that’s why they say they see the value in partner billing rates but balk at the junior associate rates. The truly weird part is that Big Law’s wacky billing rate structure is entirely of its own making. Clients care greatly about the total fee charged; they care little about how that total is arrived at in the law firm’s billing system.
partners  pricing  compensation  clients 
25 days ago by JordanFurlong
Software Architect Startup Salary & Equity - AngelList
Startup salary and equity data for thousands of software architect startup jobs. Explore by role, location, skill, or market.
compensation  analysis  equity  salary 
26 days ago by lgtout
Buffer - Transparent Salary Calculator
Calculate what you would make at Buffer using this online calculator based on the most recent Buffer salary formula.
calculator  salary  compensation  analysis 
26 days ago by lgtout
The Next Evolution of Transparent Salaries: Our New Remote-First Formula and Updated Salary Calculator - Open
Today we’re introducing Buffer’s Salary Formula 3.0 - a fresh, remote-first approach to our salaries. See the new formula, our salaries, and the calculator.
analysis  salary  calculator  compensation  maryrussell 
26 days ago by lgtout

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