Knobbe Martens Pay & Bonuses

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Knobbe Martens Pay & Bonuses

Postby Anonymous User » Tue Oct 15, 2013 12:36 am

Anyone have insight on Knobbe Marten's bonuses? I can't find any salary info besides the first year starting salary. I hear the remaining year salaries are compressed, but I don't know how much compression is there? Do bonuses bring you up to market rates?

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Re: Knobbe Martens Pay & Bonuses

Postby Anonymous User » Tue Oct 15, 2013 11:22 pm

Anonymous User wrote:Anyone have insight on Knobbe Marten's bonuses? I can't find any salary info besides the first year starting salary. I hear the remaining year salaries are compressed, but I don't know how much compression is there? Do bonuses bring you up to market rates?


I'm friends with a couple of ex-Kmobers so I can tell you this exactly as they explained it.

It's pretty straightforward, they pay .25 * billing rate * hour that you exceed your yearly billed hour quota.

For example, a second year associate at Knobbe makes $160k with a billing rate around $325 per hour. Their yearly quota is 1750 hours, but they get 105 hours of optional quota credit, bringing the yearly quota down to 1645 if you use all 15 days. Let's say an associate manages to then bill 2000 hours. That gives 355 hours on top of quota.

So then the bonus would be 355 * .25 * 325 = $28,843.75

Keep in mind, this is a billed versus billable system.

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Re: Knobbe Martens Pay & Bonuses

Postby Anonymous User » Wed Oct 16, 2013 3:19 pm

Anonymous User wrote:
Anonymous User wrote:Anyone have insight on Knobbe Marten's bonuses? I can't find any salary info besides the first year starting salary. I hear the remaining year salaries are compressed, but I don't know how much compression is there? Do bonuses bring you up to market rates?


I'm friends with a couple of ex-Kmobers so I can tell you this exactly as they explained it.

It's pretty straightforward, they pay .25 * billing rate * hour that you exceed your yearly billed hour quota.

For example, a second year associate at Knobbe makes $160k with a billing rate around $325 per hour. Their yearly quota is 1750 hours, but they get 105 hours of optional quota credit, bringing the yearly quota down to 1645 if you use all 15 days. Let's say an associate manages to then bill 2000 hours. That gives 355 hours on top of quota.

So then the bonus would be 355 * .25 * 325 = $28,843.75

Keep in mind, this is a billed versus billable system.


Knobbe doesn't pay $160,000 though...

Anonymous User
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Re: Knobbe Martens Pay & Bonuses

Postby Anonymous User » Wed Oct 16, 2013 3:42 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Anyone have insight on Knobbe Marten's bonuses? I can't find any salary info besides the first year starting salary. I hear the remaining year salaries are compressed, but I don't know how much compression is there? Do bonuses bring you up to market rates?


I'm friends with a couple of ex-Kmobers so I can tell you this exactly as they explained it.

It's pretty straightforward, they pay .25 * billing rate * hour that you exceed your yearly billed hour quota.

For example, a second year associate at Knobbe makes $160k with a billing rate around $325 per hour. Their yearly quota is 1750 hours, but they get 105 hours of optional quota credit, bringing the yearly quota down to 1645 if you use all 15 days. Let's say an associate manages to then bill 2000 hours. That gives 355 hours on top of quota.

So then the bonus would be 355 * .25 * 325 = $28,843.75

Keep in mind, this is a billed versus billable system.


Knobbe doesn't pay $160,000 though...


Not even for 2nd years?

Anonymous User
Posts: 273139
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Re: Knobbe Martens Pay & Bonuses

Postby Anonymous User » Wed Oct 16, 2013 3:55 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Anyone have insight on Knobbe Marten's bonuses? I can't find any salary info besides the first year starting salary. I hear the remaining year salaries are compressed, but I don't know how much compression is there? Do bonuses bring you up to market rates?


I'm friends with a couple of ex-Kmobers so I can tell you this exactly as they explained it.

It's pretty straightforward, they pay .25 * billing rate * hour that you exceed your yearly billed hour quota.

For example, a second year associate at Knobbe makes $160k with a billing rate around $325 per hour. Their yearly quota is 1750 hours, but they get 105 hours of optional quota credit, bringing the yearly quota down to 1645 if you use all 15 days. Let's say an associate manages to then bill 2000 hours. That gives 355 hours on top of quota.

So then the bonus would be 355 * .25 * 325 = $28,843.75

Keep in mind, this is a billed versus billable system.


Knobbe doesn't pay $160,000 though...


Not even for 2nd years?


Not unless they get an almost 10% raise

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Re: Knobbe Martens Pay & Bonuses

Postby Anonymous User » Wed Oct 16, 2013 5:42 pm

1st year staring is 150k on NALP So they would only need a 6.7% raise.

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Re: Knobbe Martens Pay & Bonuses

Postby Anonymous User » Thu Oct 17, 2013 10:03 am

Anonymous User wrote:1st year staring is 150k on NALP So they would only need a 6.7% raise.


I rounded up. But if we want to get real specific. The typical salary increase from 1st year to 2nd year with market pay is 10,000 (from 160 to 170) or 6.25%. Knobbe is known to pay less than market as a trade off for life style (even though the last few years junior associates have said that they work just as many hours). So is it reasonable that a firm that is known to pay less to give more of an increase? Or even if you don't even count the change in percentage and just ask would it be reasonable for a firm that totes itself as paying less to give the same amount (10,000)?

Lawyered/Engineered.

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Re: Knobbe Martens Pay & Bonuses

Postby Anonymous User » Thu Oct 17, 2013 10:15 am

Knobbe starts at $150,000 and then gives $10,000 per year raises for 6 years. After 6 years, you make partner, and then the pay raises increase. About 50% of Knobbe associates make partner (or so I was told).

So a first year makes $150k, a second year makes $160k... a sixth year makes $200k.

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Re: Knobbe Martens Pay & Bonuses

Postby Anonymous User » Thu Oct 17, 2013 4:33 pm

Anonymous User wrote:Knobbe starts at $150,000 and then gives $10,000 per year raises for 6 years. After 6 years, you make partner, and then the pay raises increase. About 50% of Knobbe associates make partner (or so I was told).

So a first year makes $150k, a second year makes $160k... a sixth year makes $200k.


I interviewed at Knobbe. Different partners said different things. The most consistent story that I heard was 50% of 6th year associates make partner. I think 1/6 to 1/3 of the incoming class make it to the 6th year, meaning that overall 1/12 to 1/6 of the incoming class makes partner, which is a lot more believable.




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