Bridge Rocks: A "Things Could Be Worse" Update

[Bob78164]

I may manage to land on my feet after all.

As I mentioned, my firm switched my compensation to hourly at a rate that, even if I kept my plate full, would result in a 25%-30% pay cut. However, to soften the blow, the firm also made the highly unusual move of authorizing me to moonlight. They even suggested that I contact one of the former partners, who left to open his own firm a few years ago.

As it happens, when I got the news of the change in my compensation, I had arranged a bridge game with one of my teammates from the Flight B Grand National Teams -- the event in which we had lost in the finals. Bruce is a lawyer with a two-person firm. A couple of months ago, he'd sent me a small bit of business. I thanked him and told him, of course, that I'd be more than happy to keep my eyes open for opportunities to reciprocate. Surprisingly, though, he asked me not to -- he already had more business than he could handle.

So naturally, after our game Tuesday night, I explained my new situation to Bruce and asked if he had work I could help him with. He does. Lots. He's telling me he thinks he can keep my plate full. Even better, he's willing to pay me at a rate that, if projected to a full year, would result in a substantial pay increase even after accounting for self-employment taxes. The other guy, in contrast, is willing to pay me the same hourly rate that the firm is now paying me, so I end up netting even less than I would from the firm. However, he, too, tells me that he can give me enough work to fill my day. And on top of that, a patent analysis just came into the firm that will give me a decent chunk of work.

So it looks like I had more resources than I knew. I'll still be sweating a bit for the next month or two while the new income streams come on line, but it appears that there's at least a reasonable chance I'll be able to weather this storm without too many cutbacks. Let's hope everything works out. --Bob

[Bob Juch]

That's the power of networking! I've gotten many jobs that way.

[peacock2121]

Telling people the truth about situations is a powerful thing.

Hooray for you!

[slam]

Sounds like things will turn out just fine in the end.

Yes, the bridge world is a very powerful place for connections.

[kayrharris]

Very good news. I'm glad.

[SportsFan68]

Congratulations!

My brother landed a great job after he ran into his old boss at a Susan G. Komen Foundation fundraiser.

Then the same thing happened at the new job as the old -- a buyout in which the new owners brought in their own senior management team. He's been out of work about six months.

Maybe I'll invite him for a visit to learn to play bridge.

[Appa23]

As I was reading this good news, my one concern was your malpractice insurance -- I did not know if it came through your firm.

Under my employment, I am not allowed to practice privately, in any sense of the word, as my malpractice insurance is the Government as self-payer.

It is a different factual situation, but I wanted to be sure that you were covered on that issue. I am guessing that you know that you are.

Good luck with your side work.

[Bob78164]

As I was reading this good news, my one concern was your malpractice insurance -- I did not know if it came through your firm.

Under my employment, I am not allowed to practice privately, in any sense of the word, as my malpractice insurance is the Government as self-payer.

It is a different factual situation, but I wanted to be sure that you were covered on that issue. I am guessing that you know that you are.

Good luck with your side work.

One of the conditions the firm placed on my permission to moonlight is proof of insurance, either through my own insurance or through any firm with which I'll be working. I submitted my application yesterday and am expecting approval today. --Bob