Biglaw Bonus Watch (2013)

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How will bonuses compare to last year?

Up
21
22%
Same
66
68%
Down
10
10%
 
Total votes: 97

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El Pollito
party fowl
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Re: Biglaw Bonus Watch (2013)

Postby El Pollito » Thu Nov 14, 2013 6:35 pm

Biglaw_Associate_V20 wrote:bone us

:lol: :cry:

Anonymous User
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Re: Biglaw Bonus Watch (2013)

Postby Anonymous User » Fri Nov 15, 2013 3:27 pm

Just out of curiosity what were bonuses like in the good ole days aka pre 08?

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thesealocust
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Re: Biglaw Bonus Watch (2013)

Postby thesealocust » Fri Nov 15, 2013 3:37 pm

1st year associate bonus was ~35K.

The best part was reading in-depth TLS analysis of how quickly you could pay down student loans, at 2009 tuition levels, assuming 195K first year comp and steady increases thereafter... assuming NY didn't get to 190K before you started working in BigLaw, that was.

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seespotrun
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Re: Biglaw Bonus Watch (2013)

Postby seespotrun » Fri Nov 15, 2013 3:39 pm

thesealocust wrote:1st year associate bonus was ~35K.

The best part was reading in-depth TLS analysis of how quickly you could pay down student loans, at 2009 tuition levels, assuming 195K first year comp and steady increases thereafter... assuming NY didn't get to 190K before you started working in BigLaw, that was.

Reading this made me really sad.

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thesealocust
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Re: Biglaw Bonus Watch (2013)

Postby thesealocust » Fri Nov 15, 2013 3:42 pm

Ah to be young again.

Given how bad things did get, it's honestly a little surprising 1st year salaries didn't drop, and there are still as many 1st year big firm jobs as there are.

09042014
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Re: Biglaw Bonus Watch (2013)

Postby 09042014 » Fri Nov 15, 2013 4:34 pm

thesealocust wrote:Ah to be young again.

Given how bad things did get, it's honestly a little surprising 1st year salaries didn't drop, and there are still as many 1st year big firm jobs as there are.


Things didn't get that bad from a revenue prospective. But the growth is just gone.

I'm hoaping and praying patent trolling reform doesn't happen.

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thesealocust
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Re: Biglaw Bonus Watch (2013)

Postby thesealocust » Fri Nov 15, 2013 4:40 pm

yeah but that's the point - stocks fell 50%, half of wall street exploded, unemployment skyrocketed... and law firm growth stopped.

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ExBiglawAssociate
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Re: Biglaw Bonus Watch (2013)

Postby ExBiglawAssociate » Fri Nov 15, 2013 5:09 pm

thesealocust wrote:1st year associate bonus was ~35K.


Thanks, Obama.

run26.2
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Re: Biglaw Bonus Watch (2013)

Postby run26.2 » Fri Nov 15, 2013 5:34 pm

I hear stories from attorneys that graduated in the early- to mid-2000s, that they sometimes got mid-year bonuses in the 25k-60k range, as well as their end of the year bonus.

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Big Shrimpin
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Re: Biglaw Bonus Watch (2013)

Postby Big Shrimpin » Tue Nov 19, 2013 1:02 pm

Any whispers yet?

Anonymous User
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Re: Biglaw Bonus Watch (2013)

Postby Anonymous User » Tue Nov 19, 2013 1:07 pm

Not from my V10, but I really doubt anybody is going to hear a rumor before a bonus memo drops from a top firm, and I really doubt it'll take more than a few minutes from then until the story hits ATL...

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JazzOne
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Re: Biglaw Bonus Watch (2013)

Postby JazzOne » Tue Nov 19, 2013 1:16 pm

thesealocust wrote:yeah but that's the point - stocks fell 50%, half of wall street exploded, unemployment skyrocketed... and law firm growth stopped.

Many firms are covertly hiring non-partner track entry positions. That's essentially a decrease in pay for first-years.

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Big Shrimpin
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Re: Biglaw Bonus Watch (2013)

Postby Big Shrimpin » Tue Nov 19, 2013 2:16 pm

Anonymous User wrote:Not from my V10, but I really doubt anybody is going to hear a rumor before a bonus memo drops from a top firm, and I really doubt it'll take more than a few minutes from then until the story hits ATL...


Eh, true.

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ExBiglawAssociate
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Re: Biglaw Bonus Watch (2013)

Postby ExBiglawAssociate » Sat Nov 23, 2013 3:01 am

run26.2 wrote:I hear stories from attorneys that graduated in the early- to mid-2000s, that they sometimes got mid-year bonuses in the 25k-60k range, as well as their end of the year bonus.


Shut up.

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Old Gregg
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Re: Biglaw Bonus Watch (2013)

Postby Old Gregg » Sat Nov 23, 2013 12:13 pm

Big Shrimpin wrote:
Anonymous User wrote:Not from my V10, but I really doubt anybody is going to hear a rumor before a bonus memo drops from a top firm, and I really doubt it'll take more than a few minutes from then until the story hits ATL...


Eh, true.


Not necessarily. I've heard rumors. ATL has a weird way of deciding to pick up stories.

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Big Shrimpin
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Re: Biglaw Bonus Watch (2013)

Postby Big Shrimpin » Sat Nov 23, 2013 12:54 pm

zweitbester wrote:
Big Shrimpin wrote:
Anonymous User wrote:Not from my V10, but I really doubt anybody is going to hear a rumor before a bonus memo drops from a top firm, and I really doubt it'll take more than a few minutes from then until the story hits ATL...


Eh, true.


Not necessarily. I've heard rumors. ATL has a weird way of deciding to pick up stories.


Rumors? Please, do tell. I'd imagine the first announcements will go out on Monday.

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Old Gregg
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Re: Biglaw Bonus Watch (2013)

Postby Old Gregg » Sat Nov 23, 2013 1:00 pm

Big Shrimpin wrote:
zweitbester wrote:
Big Shrimpin wrote:
Anonymous User wrote:Not from my V10, but I really doubt anybody is going to hear a rumor before a bonus memo drops from a top firm, and I really doubt it'll take more than a few minutes from then until the story hits ATL...


Eh, true.


Not necessarily. I've heard rumors. ATL has a weird way of deciding to pick up stories.


Rumors? Please, do tell. I'd imagine the first announcements will go out on Monday.


I've already shared what I know anonymously.

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Old Gregg
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Re: Biglaw Bonus Watch (2013)

Postby Old Gregg » Sat Nov 23, 2013 1:02 pm

Also, poll results look like a giant middle finger. Probably what bonuses will be like too.

run26.2
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Re: Biglaw Bonus Watch (2013)

Postby run26.2 » Sat Nov 23, 2013 1:47 pm

Biglaw_Associate_V20 wrote:
run26.2 wrote:I hear stories from attorneys that graduated in the early- to mid-2000s, that they sometimes got mid-year bonuses in the 25k-60k range, as well as their end of the year bonus.


Shut up.

This was a response to the anonymous user's question about pre-08 bonuses.

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El Pollito
party fowl
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Re: Biglaw Bonus Watch (2013)

Postby El Pollito » Sat Nov 23, 2013 5:52 pm

zweitbester wrote:Also, poll results look like a giant middle finger. Probably what bonuses will be like too.

Biglaw_Associate_V20 wrote:bone us

Anonymous User
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Re: Biglaw Bonus Watch (2013)

Postby Anonymous User » Sun Nov 24, 2013 12:32 pm

I have it on good authority that we will be seeing the same scale as last year from at least one of the market-setters.

(Posting anon but I'm a regular around here, not some xo troll, etc.)

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thesealocust
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Re: Biglaw Bonus Watch (2013)

Postby thesealocust » Sun Nov 24, 2013 12:34 pm

Anonymous User wrote:I have it on good authority that we will be seeing the same scale as last year from at least one of the market-setters.

(Posting anon but I'm a regular around here, not some xo troll, etc.)


I consider this good news and something to be thankful for ITE. Thanks for the tip!

Anonymous User
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Re: Biglaw Bonus Watch (2013)

Postby Anonymous User » Sun Nov 24, 2013 1:06 pm

thesealocust wrote:
Anonymous User wrote:I have it on good authority that we will be seeing the same scale as last year from at least one of the market-setters.

(Posting anon but I'm a regular around here, not some xo troll, etc.)


I consider this good news and something to be thankful for ITE. Thanks for the tip!


No problem. The tip hasn't been vetted with a confirming second source, but I know the person and don't believe them to have a motive to lie about it.

KaNa1986
Posts: 79
Joined: Thu Feb 07, 2013 6:32 pm

Re: Biglaw Bonus Watch (2013)

Postby KaNa1986 » Sun Nov 24, 2013 1:16 pm

Anonymous User wrote:I have it on good authority that we will be seeing the same scale as last year from at least one of the market-setters.

(Posting anon but I'm a regular around here, not some xo troll, etc.)


Which firms are market-setters? Aren't Cravath and S&C the only two firms that set the market in recent years?

Anonymous User
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Joined: Tue Aug 11, 2009 9:32 am

Re: Biglaw Bonus Watch (2013)

Postby Anonymous User » Mon Nov 25, 2013 1:04 am

The speculation around Cravath is that the bonus memo will drop around 4 pm Monday and the scale will be the same as last year or marginally higher.




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