What’s the catch? There isn’t one – our consultants really can cash in
The aggregate fee revenue of Nexa’s consultant solicitors has increased over 10 times in 3 years and the fees earned per lawyer has doubled.
We know people sometimes feel uncomfortable discussing money, but we believe in telling it how it is. Transparency is vital for those deciding whether or not to make the leap into legal consultancy.
Of course, the financials really matter, everyone has obligations and liabilities to meet, so we are always up front about what you can expect when it comes to your future earnings at Nexa.
We’ve got nothing to hide – there really is no catch!
Different ways to earn fees
There is not just one way to earn fees at Nexa; doing your own work for your own clients, is the most obvious, but there are other, just as lucrative avenues. For example:
What are top up payments?
It’s not uncommon for firms in the legal consultancy market to cap their solicitors’ earnings at 70% of what they bill. Some firms only pay you 70% once you hit a certain level of billing.
We have no truck with that at Nexa – you get 75% of your billing from day one.
Even better, if you go above a certain level of billing we will pay you a “top up” on the work you have billed on your own matters.
We try and help you get to that higher percentage by including the referral income within the calculation. Let’s look at a simple calculation.
A simple example
Solicitor Davinder bills £180,000 and refers £25,000 worth of work to colleagues at Nexa.
If Davinder works for a new model law firm capping the amount solicitors earns at 70%, they receive £126,000 plus whatever rate they get from their firm for referrals.
Working for Nexa, Davinder is entitled to a top up payment. We add in their referral income so they reach a higher band and receive £141,300 (8.5% more than the other firm), plus 15% for their referred work an extra £3,750.
Our promise to you
We aim to be the most commercial and transparent SRA regulated new model law firm in the market. We will give you:
Want to find out more?
If you’re interested in finding out a bit more detail about life as a consultant lawyer and what we can offer you at Nexa , check out our careers pages here or, have a look at our brochure. For a confidential, no obligation chat, contact David Roth.
-Eliot Hibbert, COO & Founder