I am an attorney, approximtely 10 years experience. Was prosecutor, now private criminal defense at small firm (<5 lawyers, <5 other staff). Our defense area is generally in a classic niche area with plenty of work in our jurisdiction (think motor vehicle stuff, drugs, etc.). 5 years into this role.
I know I am good at my job. I don't hate the substance of my work, nor do I love or obsess over it. I don't have another type of legal job or role in mind that I think I would enjoy more at this point in time. I have worked 9-5pm desk jobs in the past, and they aren't for me. Like many of you, I am that classic Type A, overachieving employee. Nights, weekends, whatever the job demands. I am not nieve to the tradeoffs that come along with living this way.
Current compensation, all-in, about 175k. I have done the breakdown on the "hourly" rate, not a great success. It does provide a very solid floor for lifestyle in my area of the country (HCOL). No equity stake.
I am quite disillusioned with my firm and the other attorneys I work with. I know I am used as a form of deoderant for a variety of short-sighted, bad, and sometimes outright lazy firm management practices and coworker behaviors. I am basically the only enduring associate in my time here, at least 2 others have come and gone in that time (both were let go, but at the end of the day you could deem it a mutual bad fit, criminal defense isn't for everyone, nor is this firm).
Although I did not raise these issues with boss at prior points, I have been doing so lately. I have been fairly direct about them. Boss does the classic listen/acknowledge, but not actually change anything maneuver. If anything, my role expands without more compensation reguarly.
I want equity stake, boss says no. I do everything from A-Z. Boss rebuttal is that firm does most of origination work, and this is true. It is also true that many repeat clients these days come back looking for me directly, so in some ways not a true origination, but it is more than nothing. If I went solo these former clients may be more likely to contact firm out of not knowing how to get in touch with me directly, a factor I am aware of. Our firm has no shortage of work, if anything, we turn some work away or can't handle it all. It has always been this way.
My question: Given what you know from I have said, am I crazy for walking away from this and hanging my own shingle? Like anyone contemplating that idea, I am terrified at the idea of having to generate all clients. At the same time, I look at my contemporaries and have no doubt in myself to be able to "figure it out." I work 70-90 hours per week, my biggest conern is that I don't think I can give it a true go until I am no longer working here. I have laid some basic ground-work (website domain, motion/pleading bank compiled, email set-up, some of the basics). I have the savings for 12 months of runway, though I am quite terrified at the idea of losing it and failing.
I understand I may be trading one set off problems for another, but if I owned all of these problems as truly mine with the chance of upside to if I can solve them, I feel it would be easier to get out of bed in the morning. I fear I don't know what I don't know.
Anyways, I suppose this equal parts rant and looking for advice from those who have been here before, especially if there is anything you wish you had considered when in a similar situation in the past.
Longtime lurker of this sub, and on an unrelated note will add I appreciate all who have posted before me. We are truly all in this together, and more alike than different, regardless of practice area or experience level.