2014 Biglaw Bonus Thread

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.

Bonuses will be _____ from last year

Up
62
61%
Unchanged
34
33%
Down
6
6%
 
Total votes: 102

User avatar
Desert Fox
Progressively loosing literacy
Posts: 14421
Joined: Thu Sep 04, 2014 4:34 pm

Re: 2014 Biglaw Bonus Thread

Postby Desert Fox » Mon Nov 24, 2014 2:53 pm

desertlaw wrote:Never think optimistically? Got it. Thx.


If you want a bigger bonus, why not work for a firm that gives it? KE, Cahill, etc. etc.

User avatar
B.B. Homemaker
Posts: 3452
Joined: Fri Jan 18, 2013 11:00 pm

Re: 2014 Biglaw Bonus Thread

Postby B.B. Homemaker » Mon Nov 24, 2014 2:53 pm

desertlaw wrote:Never think optimistically? Got it. Thx.

Optimism can be useful as motivation when you could potentially do something to alter the outcome. For things totally beyond my control, like firm bonuses, I don't see much use.

Anonymous User
Posts: 273311
Joined: Tue Aug 11, 2009 9:32 am

Re: 2014 Biglaw Bonus Thread

Postby Anonymous User » Mon Nov 24, 2014 2:54 pm

Any word on what Skadden NY plans to do for bonuses?

User avatar
Old Gregg
Posts: 5413
Joined: Thu Sep 01, 2011 1:26 pm

Re: 2014 Biglaw Bonus Thread

Postby Old Gregg » Mon Nov 24, 2014 2:57 pm

B.B. Homemaker wrote:
desertlaw wrote:Never think optimistically? Got it. Thx.

Optimism can be useful as motivation when you could potentially do something to alter the outcome. For things totally beyond my control, like firm bonuses, I don't see much use.



Exactly. Just saving people from their own stupidity.

Anonymous User
Posts: 273311
Joined: Tue Aug 11, 2009 9:32 am

Re: 2014 Biglaw Bonus Thread

Postby Anonymous User » Mon Nov 24, 2014 3:13 pm

desertlaw wrote:Any chance that SullCrom, Skadden, and DPW are waiting because they suspect that Cravath might go higher than Simpson, and don't want to look bad if that happens? Or is that wishful thinking?

DPW will wait for S&C and Cravath to announce and will match the more conservative of those two plus Simpson most likely. That's consistent with the institutional approach. They shouldn't be included in the hoping to raise market crowd.

User avatar
Desert Fox
Progressively loosing literacy
Posts: 14421
Joined: Thu Sep 04, 2014 4:34 pm

Re: 2014 Biglaw Bonus Thread

Postby Desert Fox » Mon Nov 24, 2014 3:16 pm

Anyone wanna make baseless speculations on why Simpson decided to set the market? Prevent someone else from raising junior bonuses too high?

User avatar
lhanvt13
Posts: 2379
Joined: Wed Jun 09, 2010 12:59 am

Re: 2014 Biglaw Bonus Thread

Postby lhanvt13 » Mon Nov 24, 2014 3:46 pm

Desert Fox wrote:Anyone wanna make baseless speculations on why Simpson decided to set the market? Prevent someone else from raising junior bonuses too high?

good will

Anonymous User
Posts: 273311
Joined: Tue Aug 11, 2009 9:32 am

Re: 2014 Biglaw Bonus Thread

Postby Anonymous User » Mon Nov 24, 2014 4:34 pm

Desert Fox wrote:Anyone wanna make baseless speculations on why Simpson decided to set the market? Prevent someone else from raising junior bonuses too high?


As an associate at STB (and this is still somewhat speculation but not baseless) -- competition for high-quality associates, especially with Kirkland. Kirkland is the real driver of this increase. STB has lost too many of its best associates who left seeking the $$$ at Kirkland in recent years, and there is real disgruntlement over it (definitely helps with awareness of the problem among partners that Kirkland has approached every rainmaker partner at STB and offered them a job, too). Why STB and not some other firm? STB has by far the most overlap in strong practice areas (mainly PE) with Kirkland of all of the top firms, which makes it most susceptible to poaching.

For the record, the chairman of the firm had a speech this spring where he said the associates shouldn't expect us to be compensation leaders. I guess he changed his tune.
Last edited by Anonymous User on Mon Nov 24, 2014 4:38 pm, edited 1 time in total.

User avatar
fats provolone
Posts: 7125
Joined: Thu Oct 30, 2014 4:44 pm

Re: 2014 Biglaw Bonus Thread

Postby fats provolone » Mon Nov 24, 2014 4:38 pm

market: shattered

911 crisis actor
Posts: 207
Joined: Sun Nov 17, 2013 3:03 pm

Re: 2014 Biglaw Bonus Thread

Postby 911 crisis actor » Mon Nov 24, 2014 5:17 pm

Simpson Thacher to offer brownies to all associates

Anonymous User
Posts: 273311
Joined: Tue Aug 11, 2009 9:32 am

Re: 2014 Biglaw Bonus Thread

Postby Anonymous User » Mon Nov 24, 2014 5:19 pm

Anonymous User wrote:
Desert Fox wrote:Anyone wanna make baseless speculations on why Simpson decided to set the market? Prevent someone else from raising junior bonuses too high?


As an associate at STB (and this is still somewhat speculation but not baseless) -- competition for high-quality associates, especially with Kirkland. Kirkland is the real driver of this increase. STB has lost too many of its best associates who left seeking the $$$ at Kirkland in recent years, and there is real disgruntlement over it (definitely helps with awareness of the problem among partners that Kirkland has approached every rainmaker partner at STB and offered them a job, too). Why STB and not some other firm? STB has by far the most overlap in strong practice areas (mainly PE) with Kirkland of all of the top firms, which makes it most susceptible to poaching.

For the record, the chairman of the firm had a speech this spring where he said the associates shouldn't expect us to be compensation leaders. I guess he changed his tune.



Too bad K&E's bonuses have been worse in recent years. Top billers topping out at 2.5x market if they're lucky.

User avatar
jbagelboy
Posts: 9645
Joined: Thu Nov 29, 2012 7:57 pm

Re: 2014 Biglaw Bonus Thread

Postby jbagelboy » Mon Nov 24, 2014 5:22 pm

Anonymous User wrote:
desertlaw wrote:Any chance that SullCrom, Skadden, and DPW are waiting because they suspect that Cravath might go higher than Simpson, and don't want to look bad if that happens? Or is that wishful thinking?

DPW will wait for S&C and Cravath to announce and will match the more conservative of those two plus Simpson most likely. That's consistent with the institutional approach. They shouldn't be included in the hoping to raise market crowd.


I don't anticipate DPW increasing over its peers, its a traditional follower, but the firm would never cheapen out below Simpson or Cravath. They had a very strong year too with PPP & revenue growth % exceeding the others so certainly no economic reason to be uncompetitive.

User avatar
jbagelboy
Posts: 9645
Joined: Thu Nov 29, 2012 7:57 pm

Re: 2014 Biglaw Bonus Thread

Postby jbagelboy » Mon Nov 24, 2014 5:23 pm

Anonymous User wrote:
Desert Fox wrote:Anyone wanna make baseless speculations on why Simpson decided to set the market? Prevent someone else from raising junior bonuses too high?


As an associate at STB (and this is still somewhat speculation but not baseless) -- competition for high-quality associates, especially with Kirkland. Kirkland is the real driver of this increase. STB has lost too many of its best associates who left seeking the $$$ at Kirkland in recent years, and there is real disgruntlement over it (definitely helps with awareness of the problem among partners that Kirkland has approached every rainmaker partner at STB and offered them a job, too). Why STB and not some other firm? STB has by far the most overlap in strong practice areas (mainly PE) with Kirkland of all of the top firms, which makes it most susceptible to poaching.

For the record, the chairman of the firm had a speech this spring where he said the associates shouldn't expect us to be compensation leaders. I guess he changed his tune.


This sounds more like a Kirkland associate to me.

User avatar
Desert Fox
Progressively loosing literacy
Posts: 14421
Joined: Thu Sep 04, 2014 4:34 pm

Re: 2014 Biglaw Bonus Thread

Postby Desert Fox » Mon Nov 24, 2014 5:23 pm

jbagelboy wrote:
Anonymous User wrote:
Desert Fox wrote:Anyone wanna make baseless speculations on why Simpson decided to set the market? Prevent someone else from raising junior bonuses too high?


As an associate at STB (and this is still somewhat speculation but not baseless) -- competition for high-quality associates, especially with Kirkland. Kirkland is the real driver of this increase. STB has lost too many of its best associates who left seeking the $$$ at Kirkland in recent years, and there is real disgruntlement over it (definitely helps with awareness of the problem among partners that Kirkland has approached every rainmaker partner at STB and offered them a job, too). Why STB and not some other firm? STB has by far the most overlap in strong practice areas (mainly PE) with Kirkland of all of the top firms, which makes it most susceptible to poaching.

For the record, the chairman of the firm had a speech this spring where he said the associates shouldn't expect us to be compensation leaders. I guess he changed his tune.


This sounds more like a Kirkland associate to me.


guy MAF they didn't get a KE callback.

911 crisis actor
Posts: 207
Joined: Sun Nov 17, 2013 3:03 pm

Re: 2014 Biglaw Bonus Thread

Postby 911 crisis actor » Mon Nov 24, 2014 5:48 pm

jbagelboy wrote:
Anonymous User wrote:
desertlaw wrote:Any chance that SullCrom, Skadden, and DPW are waiting because they suspect that Cravath might go higher than Simpson, and don't want to look bad if that happens? Or is that wishful thinking?

DPW will wait for S&C and Cravath to announce and will match the more conservative of those two plus Simpson most likely. That's consistent with the institutional approach. They shouldn't be included in the hoping to raise market crowd.


I don't anticipate DPW increasing over its peers, its a traditional follower, but the firm would never cheapen out below Simpson or Cravath. They had a very strong year too with PPP & revenue growth % exceeding the others so certainly no economic reason to be uncompetitive.


You have knowledge of firms' 2014 financials?

User avatar
jbagelboy
Posts: 9645
Joined: Thu Nov 29, 2012 7:57 pm

Re: 2014 Biglaw Bonus Thread

Postby jbagelboy » Mon Nov 24, 2014 5:55 pm

911 crisis actor wrote:
jbagelboy wrote:
Anonymous User wrote:
desertlaw wrote:Any chance that SullCrom, Skadden, and DPW are waiting because they suspect that Cravath might go higher than Simpson, and don't want to look bad if that happens? Or is that wishful thinking?

DPW will wait for S&C and Cravath to announce and will match the more conservative of those two plus Simpson most likely. That's consistent with the institutional approach. They shouldn't be included in the hoping to raise market crowd.


I don't anticipate DPW increasing over its peers, its a traditional follower, but the firm would never cheapen out below Simpson or Cravath. They had a very strong year too with PPP & revenue growth % exceeding the others so certainly no economic reason to be uncompetitive.


You have knowledge of firms' 2014 financials?


Obviously no, I'm referring to this

User avatar
Desert Fox
Progressively loosing literacy
Posts: 14421
Joined: Thu Sep 04, 2014 4:34 pm

Re: 2014 Biglaw Bonus Thread

Postby Desert Fox » Mon Nov 24, 2014 6:00 pm

jbagelboy wrote:
911 crisis actor wrote:
jbagelboy wrote:
Anonymous User wrote:
DPW will wait for S&C and Cravath to announce and will match the more conservative of those two plus Simpson most likely. That's consistent with the institutional approach. They shouldn't be included in the hoping to raise market crowd.


I don't anticipate DPW increasing over its peers, its a traditional follower, but the firm would never cheapen out below Simpson or Cravath. They had a very strong year too with PPP & revenue growth % exceeding the others so certainly no economic reason to be uncompetitive.


You have knowledge of firms' 2014 financials?


Obviously no, I'm referring to this


That's almost a year ago.

911 crisis actor
Posts: 207
Joined: Sun Nov 17, 2013 3:03 pm

Re: 2014 Biglaw Bonus Thread

Postby 911 crisis actor » Mon Nov 24, 2014 6:06 pm

jbagelboy wrote:
Obviously no, I'm referring to this


22.5% surge in profits on 5.4% growth in revenue isn't suspicious at all

User avatar
cookiejar1
Posts: 834
Joined: Fri Mar 11, 2011 2:07 am

Re: 2014 Biglaw Bonus Thread

Postby cookiejar1 » Mon Nov 24, 2014 6:10 pm

Cravath just announced. Matched STB. Fuck our optimism.

dixiecupdrinking
Posts: 3142
Joined: Sun Oct 26, 2008 2:39 pm

Re: 2014 Biglaw Bonus Thread

Postby dixiecupdrinking » Mon Nov 24, 2014 6:33 pm

Link?

I'm just glad CSM matching sets a hard floor. No question what "market" is now.

WhirledWorld
Posts: 331
Joined: Wed Sep 22, 2010 11:04 am

Re: 2014 Biglaw Bonus Thread

Postby WhirledWorld » Mon Nov 24, 2014 6:38 pm

cookiejar1 wrote:Cravath just announced. Matched STB. Fuck our optimism.


If anything, that's good news. Cravath never leads by increasing comp, only by decreasing comp, as it did with the "half-Skadden" bonus debacle.

User avatar
lhanvt13
Posts: 2379
Joined: Wed Jun 09, 2010 12:59 am

Re: 2014 Biglaw Bonus Thread

Postby lhanvt13 » Mon Nov 24, 2014 6:42 pm

dixiecupdrinking wrote:Link?

I'm just glad CSM matching sets a hard floor. No question what "market" is now.

http://abovethelaw.com/2014/11/associat ... nounces/2/

User avatar
DoveBodyWash
Posts: 3087
Joined: Fri Dec 23, 2011 4:12 pm

Re: 2014 Biglaw Bonus Thread

Postby DoveBodyWash » Mon Nov 24, 2014 7:43 pm

How do people think KE will respond for their own bonus scale?

Anonymous User
Posts: 273311
Joined: Tue Aug 11, 2009 9:32 am

Re: 2014 Biglaw Bonus Thread

Postby Anonymous User » Mon Nov 24, 2014 7:52 pm

cusenation wrote:How do people think KE will respond for their own bonus scale?



It will be something like market is the floor, above 2,000 gets around 1.2x-1.3x market, 2,200-2,300 gets around 1.4x-1.5x market, 2,400-2,600 gets around 1.6x-2x the market. If you're above class or top of class (so a very small minority of each class year), you're looking at around 3x. Assuming they take into account this bump (during the last bump... they didn't, so bonuses were lackluster then as well).

Anonymous User
Posts: 273311
Joined: Tue Aug 11, 2009 9:32 am

Re: 2014 Biglaw Bonus Thread

Postby Anonymous User » Mon Nov 24, 2014 7:56 pm

cusenation wrote:How do people think KE will respond for their own bonus scale?



dude chill out




Return to “Legal Employment”

Who is online

The online users are hidden on this forum.