2014 Biglaw Bonus Thread

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Bonuses will be _____ from last year

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

Anonymous User
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Re: 2014 Biglaw Bonus Thread

Postby Anonymous User » Wed Nov 26, 2014 8:02 pm

Br3v wrote:
Anonymous User wrote:I work at K&E. I know of an NSP who billed more than 3,000 hours last year and received a $200,000 bonus.


What? Does K&E have a special bonus with no cap or something or is this possible if you bill 3,000 (woah) at most biglaw firms? Or are you like a 8th year or something?


Yeah, everyone in my group has billed 2,500 - 3,400 per year over the past three years. It's definitely a soul-draining culture. Non-share partners get promoted after 5-6 years, and their salaries are higher than lock-step salaries (this is black box - but I've heard that they get roughly 40k more than lock step). Also, bonuses for non-share partners can be WAY higher than market. They encourage NSPs to bring in their own deals, so if you bring in one or two deals that earn in $1 - 2 million in fees, they will pay you what they think you're worth.

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Old Gregg
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Re: 2014 Biglaw Bonus Thread

Postby Old Gregg » Wed Nov 26, 2014 8:36 pm

(this is black box - but I've heard that they get roughly 40k more than lock step). Also, bonuses for non-share partners can be WAY higher than market.


1) Nope. NSPs make market, but have to pay their own health insurance. So below market for the base.
2) Bonuses are based less on hours (though that is a component) and more on whether you're on track for shares. A nonshare partner that is not in the running for shares will get coal. A nonshare partner that is definitely going to get shares will get a ton of money, though.

Also, bonuses are negotiated.

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Br3v
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Re: 2014 Biglaw Bonus Thread

Postby Br3v » Wed Nov 26, 2014 9:24 pm

zweitbester wrote:
(this is black box - but I've heard that they get roughly 40k more than lock step). Also, bonuses for non-share partners can be WAY higher than market.


1) Nope. NSPs make market, but have to pay their own health insurance. So below market for the base.
2) Bonuses are based less on hours (though that is a component) and more on whether you're on track for shares. A nonshare partner that is not in the running for shares will get coal. A nonshare partner that is definitely going to get shares will get a ton of money, though.

Also, bonuses are negotiated.


Associates pay health insurance out of pocket right? Is it subsidized?

v5junior
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Re: 2014 Biglaw Bonus Thread

Postby v5junior » Wed Nov 26, 2014 11:08 pm

Br3v wrote:Associates pay health insurance out of pocket right? Is it subsidized?


Yes and yes.

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fats provolone
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Re: 2014 Biglaw Bonus Thread

Postby fats provolone » Wed Nov 26, 2014 11:09 pm

pretty sure my insurance is anti-subsidized

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FSK
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Re: 2014 Biglaw Bonus Thread

Postby FSK » Wed Nov 26, 2014 11:11 pm

How is 3400 possible w/o padding? Jeez....

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2014
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Re: 2014 Biglaw Bonus Thread

Postby 2014 » Thu Nov 27, 2014 12:35 am

What are the associates' in here's premium for firm insurance? I remember looking seeing this summer that ours was going to be like ~150 for what would on the open market be a premium plan I think so it's pretty heavily subsidized but still costing more than most healthy 26-32 year olds will get out of it.

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fats provolone
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Re: 2014 Biglaw Bonus Thread

Postby fats provolone » Thu Nov 27, 2014 12:38 am

married, no kids, $300








per paycheck

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Br3v
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Re: 2014 Biglaw Bonus Thread

Postby Br3v » Thu Nov 27, 2014 12:59 am

fats provolone wrote:married, no kids, $300








per paycheck


$600 a month!? Firm subsidized? That can't be normal.

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mmelittlechicken
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Re: 2014 Biglaw Bonus Thread

Postby mmelittlechicken » Thu Nov 27, 2014 1:06 am

Br3v wrote:
fats provolone wrote:married, no kids, $300








per paycheck


$600 a month!? Firm subsidized? That can't be normal.

Sure it can.

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Br3v
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Re: 2014 Biglaw Bonus Thread

Postby Br3v » Thu Nov 27, 2014 1:07 am

mmelittlechicken wrote:
Br3v wrote:
fats provolone wrote:married

$600 a month!? Firm subsidized? That can't be normal.

Sure it can.


Wow, totally skipped that.

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Desert Fox
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Re: 2014 Biglaw Bonus Thread

Postby Desert Fox » Thu Nov 27, 2014 1:44 am

fats provolone wrote:pretty sure my insurance is anti-subsidized


obamas amerca

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Desert Fox
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Re: 2014 Biglaw Bonus Thread

Postby Desert Fox » Thu Nov 27, 2014 1:44 am

flawschoolkid wrote:How is 3400 possible w/o padding? Jeez....


who said anything about not padding

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mmelittlechicken
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Re: 2014 Biglaw Bonus Thread

Postby mmelittlechicken » Thu Nov 27, 2014 1:46 am

Desert Fox wrote:
flawschoolkid wrote:How is 3400 possible w/o padding? Jeez....


who said anything about not padding

180 accidental "bill like a fat man"

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Desert Fox
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Re: 2014 Biglaw Bonus Thread

Postby Desert Fox » Thu Nov 27, 2014 1:58 am

btw I just remember, that may be a paraphrase of an xo post. Not trying to rip anybody off.

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nsideirish
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Re: 2014 Biglaw Bonus Thread

Postby nsideirish » Thu Nov 27, 2014 2:06 pm

I really have trouble comprehending how 3400 is even possible. I can't wrap my head around it.

mvp99
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Re: 2014 Biglaw Bonus Thread

Postby mvp99 » Thu Nov 27, 2014 3:05 pm


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FSK
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Re: 2014 Biglaw Bonus Thread

Postby FSK » Thu Nov 27, 2014 3:14 pm

nsideirish wrote:I really have trouble comprehending how 3400 is even possible. I can't wrap my head around it.


That is 9.3 hours billed literally every day of the year....

PMan99
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Re: 2014 Biglaw Bonus Thread

Postby PMan99 » Thu Nov 27, 2014 3:18 pm

nsideirish wrote:I really have trouble comprehending how 3400 is even possible. I can't wrap my head around it.


Walk in, turn on timer, stay for 12 hours, turn off timer, walk out.

Anonymous User
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Re: 2014 Biglaw Bonus Thread

Postby Anonymous User » Thu Nov 27, 2014 5:39 pm

nsideirish wrote:I really have trouble comprehending how 3400 is even possible. I can't wrap my head around it.


I know the guy. It's padding. He works hard for sure, but is definitely full of shit on the hours.

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Lincoln
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Re: 2014 Biglaw Bonus Thread

Postby Lincoln » Thu Nov 27, 2014 6:49 pm

nsideirish wrote:I really have trouble comprehending how 3400 is even possible. I can't wrap my head around it.


I'll probably hit about 3,200 for the year without padding. In fact, all-in-all I probably marginally under-bill. It sucks ass, but it's totally doable. You just don't take days off (including weekends), have some really shitty periods like a trial or insane discovery where you take/work on depos every week, so you end up billing over 350 for a few months. All of a sudden, you're there.

Anonymous User
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Re: 2014 Biglaw Bonus Thread

Postby Anonymous User » Thu Nov 27, 2014 7:16 pm

2014 wrote:What are the associates' in here's premium for firm insurance? I remember looking seeing this summer that ours was going to be like ~150 for what would on the open market be a premium plan I think so it's pretty heavily subsidized but still costing more than most healthy 26-32 year olds will get out of it.


i'm in the same age range; plans range from about 130 to 200/mo at my firm.

911 crisis actor
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Re: 2014 Biglaw Bonus Thread

Postby 911 crisis actor » Thu Nov 27, 2014 7:34 pm

Bill 'em all and let the partner sort it out

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ExBiglawAssociate
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Re: 2014 Biglaw Bonus Thread

Postby ExBiglawAssociate » Thu Nov 27, 2014 7:36 pm

Lincoln wrote:
nsideirish wrote:I really have trouble comprehending how 3400 is even possible. I can't wrap my head around it.


I'll probably hit about 3,200 for the year without padding. In fact, all-in-all I probably marginally under-bill. It sucks ass, but it's totally doable. You just don't take days off (including weekends), have some really shitty periods like a trial or insane discovery where you take/work on depos every week, so you end up billing over 350 for a few months. All of a sudden, you're there.


I would literally go insane working that much. My worst year so far was about 2,500. I thought I was going to die.

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Br3v
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Re: 2014 Biglaw Bonus Thread

Postby Br3v » Thu Nov 27, 2014 7:46 pm

Biglaw_Associate_V20 wrote:
I would literally go insane working that much. My worst year so far was about 2,500. I thought I was going to die.


What does that look like? 52 60 hour weeks?




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