Bonuses

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Anonymous User
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Bonuses

Postby Anonymous User » Sat Aug 21, 2010 12:27 pm

Where can I find data on the bonuses that firms have paid out in recent years to associates, also minimum billables, whether "discretionary," etc.?

Thanks!

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Big Shrimpin
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Re: Bonuses

Postby Big Shrimpin » Sat Aug 21, 2010 12:36 pm

G. T. L. Rev. wrote:Above The Law is your best bet. The info is not organized in such a way that it will be easy, but most of what you are seeking is there--at least for the major firms.



Best 'tar evarrr

Anonymous User
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Re: Bonuses

Postby Anonymous User » Sat Aug 21, 2010 12:36 pm

Big Shrimpin wrote:
G. T. L. Rev. wrote:Above The Law is your best bet. The info is not organized in such a way that it will be easy, but most of what you are seeking is there--at least for the major firms.



Best 'tar evarrr


agreed

270910
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Re: Bonuses

Postby 270910 » Sat Aug 21, 2010 12:42 pm

The best bonuses lately have been "still having a job." It's a different era.

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Big Shrimpin
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Re: Bonuses

Postby Big Shrimpin » Sat Aug 21, 2010 12:49 pm

disco_barred wrote:The best bonuses lately have been "still having a job." It's a different era.


TCR, of course.

Anonymous User
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Re: Bonuses

Postby Anonymous User » Sun Aug 22, 2010 12:57 pm

disco_barred wrote:The best bonuses lately have been "still having a job." It's a different era.


Sure, but folks fortunate enough to have 8 or more callbacks are likely to have to choose among several offers. Bonus data will play into that decision.

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Bosque
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Re: Bonuses

Postby Bosque » Sun Aug 22, 2010 1:19 pm

Anonymous User wrote:
disco_barred wrote:The best bonuses lately have been "still having a job." It's a different era.


Sure, but folks fortunate enough to have 8 or more callbacks are likely to have to choose among several offers. Bonus data will play into that decision.


True. But if I were them, I would consider what the high bonuses mean. It could be an indicator of a risky business model. A lot of the firms who give out more modest bonuses are also the ones who did not have to lay as many people off over the last few years. The high bonuses are sometimes indicative of a high risk business strategy. When things are good, great! Everyone gets rich. But when things are bad, there is no buffer to fall back on and people get fired.

I am of course not saying that all firms with high bonuses are going to topple and you should stay away. I am just saying that you should consider what those bonuses say about how the firm is run. Some firms, it is just an indication that they are doing well and have extra money. Some are trying to buy the loyalty of the people who are remaining after massive cuts. Some are creating a smokescreen to hide their troubled books. Try and figure out the reason for the bonuses before you jump at the firm with the highest.

Action Jackson
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Re: Bonuses

Postby Action Jackson » Sun Aug 22, 2010 1:27 pm

Anonymous User wrote:
disco_barred wrote:The best bonuses lately have been "still having a job." It's a different era.


Sure, but folks fortunate enough to have 8 or more callbacks are likely to have to choose among several offers. Bonus data will play into that decision.

So we're pretending it's 2006 again? Good luck with that.

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Bosque
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Re: Bonuses

Postby Bosque » Sun Aug 22, 2010 1:33 pm

Action Jackson wrote:
Anonymous User wrote:
disco_barred wrote:The best bonuses lately have been "still having a job." It's a different era.


Sure, but folks fortunate enough to have 8 or more callbacks are likely to have to choose among several offers. Bonus data will play into that decision.

So we're pretending it's 2006 again? Good luck with that.


Basically the TLDR version of what I said. Good show. :mrgreen:

Action Jackson
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Re: Bonuses

Postby Action Jackson » Sun Aug 22, 2010 1:49 pm

Bosque wrote:
Action Jackson wrote:
Anonymous User wrote:
disco_barred wrote:The best bonuses lately have been "still having a job." It's a different era.


Sure, but folks fortunate enough to have 8 or more callbacks are likely to have to choose among several offers. Bonus data will play into that decision.

So we're pretending it's 2006 again? Good luck with that.


Basically the TLDR version of what I said. Good show. :mrgreen:

Pretty much, but with an extra scroop of dickishness on top. :lol:

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rayiner
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Re: Bonuses

Postby rayiner » Sun Aug 22, 2010 4:01 pm

disco_barred wrote:The best bonuses lately have been "still having a job." It's a different era.


Right. There are some questionable firms still paying market bonus that you'd be a fool to take over more stable alternatives that might pay out lower amounts.

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underdawg
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Re: Bonuses

Postby underdawg » Sun Aug 22, 2010 5:43 pm

for all you know, OP is in the position to weigh these kinds of things. don't be a dick because someone might be in a better spot than you.

of course, it's more likely OP is just being naive, but...yknow

270910
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Re: Bonuses

Postby 270910 » Sun Aug 22, 2010 5:51 pm

underdawg wrote:for all you know, OP is in the position to weigh these kinds of things. don't be a dick because someone might be in a better spot than you.

of course, it's more likely OP is just being naive, but...yknow


its not about being a dick. As rayiner noted, even if you have 25 offers from the V25, there are many metric that will be more relevant to your decision ite than bonus. As already pointed out, ATL has the low down, but it's worth noting that gone are the days of trying to figure out where the big bonuses would be when choosing amongst firms.

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rayiner
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Re: Bonuses

Postby rayiner » Sun Aug 22, 2010 6:10 pm

underdawg wrote:for all you know, OP is in the position to weigh these kinds of things. don't be a dick because someone might be in a better spot than you.

of course, it's more likely OP is just being naive, but...yknow


If you're picking among V10's, maybe bonuses might be relevant enough to make a thread about. Outside that, your first, second, and third questions really need to be about firm health/management. Even then, Latham was a V10 just a couple of years ago...

It's not just a matter of being risk averse. You have to look at the expected return. Say a typical biglaw stint lasts 5 years, with a total expected payoff of $1 million. Even a 10% difference in the probability of making it through all 5 years can easily swamp the difference in bonus amounts between aggressively and conservatively managed firms.

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underdawg
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Re: Bonuses

Postby underdawg » Sun Aug 22, 2010 6:34 pm

yeah that's my point. who knows if he's looking at...say boies schiller v. quinn emanuel. both firms are healthy. bonuses are a valid consideration at that point.

270910
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Re: Bonuses

Postby 270910 » Sun Aug 22, 2010 8:28 pm

underdawg wrote:yeah that's my point. who knows if he's looking at...say boies schiller v. quinn emanuel. both firms are healthy. bonuses are a valid consideration at that point.


Eh, Boies had a 75% offer rate summer of '09. Not necessarily unhealthy, but still...

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rayiner
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Re: Bonuses

Postby rayiner » Sun Aug 22, 2010 8:29 pm

disco_barred wrote:
underdawg wrote:yeah that's my point. who knows if he's looking at...say boies schiller v. quinn emanuel. both firms are healthy. bonuses are a valid consideration at that point.


Eh, Boies had a 75% offer rate summer of '09. Not necessarily unhealthy, but still...


They always have a low offer rate. They're just tools. But your larger point stands. That sort of shit (low offer rates in a good economy) would definitely be more important to me than bonus amounts.




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