2014 Biglaw Bonus Thread Forum
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- cookiejar1
- Posts: 867
- Joined: Fri Mar 11, 2011 2:07 am
Re: 2014 Biglaw Bonus Thread
Paul, Weiss just re-upped and matched DPW. http://abovethelaw.com/2014/12/associat ... s-pays-up/
NYC TO 190!
NYC TO 190!
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- Posts: 427953
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Re: 2014 Biglaw Bonus Thread
Simpson is taking its sweet time to announce 190k base 1st year
- Cobretti
- Posts: 2593
- Joined: Tue Aug 21, 2012 12:45 am
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- Posts: 282
- Joined: Wed Jul 09, 2014 1:20 am
Re: 2014 Biglaw Bonus Thread
Simpson and Cravath just retroactively matched too.
http://abovethelaw.com/2014/12/associat ... low-davis/
Edit: Scooped by Cobretti
http://abovethelaw.com/2014/12/associat ... low-davis/
Edit: Scooped by Cobretti
- Monochromatic Oeuvre
- Posts: 2479
- Joined: Fri May 10, 2013 9:40 pm
Re: 2014 Biglaw Bonus Thread
I get the notion that Biglaw is less likely to have a base bump if they want to go to the IB model where compensation is more variable based on the performance of the year (driving a stake into risk-averse law students). But I really don't understand the people who say it's not possible or is really unlikely. Bonuses, PPP, and deal activity are all higher than 2006, whose results spurred the last pay bump the following January.
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- jbagelboy
- Posts: 10361
- Joined: Thu Nov 29, 2012 7:57 pm
Re: 2014 Biglaw Bonus Thread
my impression is that people are generally saying it is possible/likely that we'll see a base bump in 2015Monochromatic Oeuvre wrote:I get the notion that Biglaw is less likely to have a base bump if they want to go to the IB model where compensation is more variable based on the performance of the year (driving a stake into risk-averse law students). But I really don't understand the people who say it's not possible or is really unlikely. Bonuses, PPP, and deal activity are all higher than 2006, whose results spurred the last pay bump the following January.
- cookiejar1
- Posts: 867
- Joined: Fri Mar 11, 2011 2:07 am
Re: 2014 Biglaw Bonus Thread
I actually would be incredibly surprised if there was a bump in 2015 but if there's smoke there's gotta be fire right?
NYC TO 190!
NYC TO 190!
- skers
- Posts: 5230
- Joined: Thu Jun 03, 2010 12:33 am
Re: 2014 Biglaw Bonus Thread
I don't get where you're getting that this is somehow more like IB bonuses or anything like that. This is probably just a reflection that the midlevel lateral market is pretty hot right, especially for corp. This is probably a reflection of some constriction in the number of associates from the layoffs post-recession. If there's going to be a base bump, it'll be at the top end.Monochromatic Oeuvre wrote:I get the notion that Biglaw is less likely to have a base bump if they want to go to the IB model where compensation is more variable based on the performance of the year (driving a stake into risk-averse law students). But I really don't understand the people who say it's not possible or is really unlikely. Bonuses, PPP, and deal activity are all higher than 2006, whose results spurred the last pay bump the following January.
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Re: 2014 Biglaw Bonus Thread
IMO these increased bonuses are in lieu of increased salaries, not evidence that they're coming.
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Re: 2014 Biglaw Bonus Thread
cookiejar1 wrote:I actually would be incredibly surprised if there was a bump in 2015 but if there's smoke there's gotta be fire right?
NYC TO 190!
NYC to 190k!
- fats provolone
- Posts: 7125
- Joined: Thu Oct 30, 2014 4:44 pm
Re: 2014 Biglaw Bonus Thread
lol at a few tens of ks for mid level associates being akin to profit sharing
- Tiago Splitter
- Posts: 17148
- Joined: Tue Jun 28, 2011 1:20 am
Re: 2014 Biglaw Bonus Thread
Firms have never done it this way. Past raises were always based on losing too many mid-levels and first year salaries just kind of tag along.skers wrote: If there's going to be a base bump, it'll be at the top end.
Bonuses have always gone up before raises came, but they went up more than this.dixiecupdrinking wrote:IMO these increased bonuses are in lieu of increased salaries, not evidence that they're coming.
- Desert Fox
- Posts: 18283
- Joined: Thu Sep 04, 2014 4:34 pm
Re: 2014 Biglaw Bonus Thread
I could see something like
Y1 $175,000
Y2 $185,000
Y3 $205,000
Y4 $240,000
Y5 $260,000
Y6 $280,000
Y7 $265,000
Y8 $285,000
Y9 $300,000
Y1 $175,000
Y2 $185,000
Y3 $205,000
Y4 $240,000
Y5 $260,000
Y6 $280,000
Y7 $265,000
Y8 $285,000
Y9 $300,000
Last edited by Desert Fox on Sat Jan 27, 2018 5:36 am, edited 1 time in total.
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- Posts: 1650
- Joined: Mon Apr 30, 2012 10:42 am
Re: 2014 Biglaw Bonus Thread
desert fox is optimistic ----> you know for sure base salaries are about to go up
- Desert Fox
- Posts: 18283
- Joined: Thu Sep 04, 2014 4:34 pm
Re: 2014 Biglaw Bonus Thread
making 185k next year isn't enough bro I need moar.Hutz_and_Goodman wrote:desert fox is optimistic ----> you know for sure base salaries are about to go up
Last edited by Desert Fox on Sat Jan 27, 2018 5:36 am, edited 1 time in total.
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- Posts: 282
- Joined: Wed Jul 09, 2014 1:20 am
Re: 2014 Biglaw Bonus Thread
Got something against 7th years, DF?Desert Fox wrote:I could see something like
Y1 $175,000
Y2 $185,000
Y3 $205,000
Y4 $240,000
Y5 $260,000
Y6 $280,000
Y7 $265,000
Y8 $285,000
Y9 $300,000
$280k (Y6) --> $265k (Y7)?
- nothingtosee
- Posts: 958
- Joined: Tue May 03, 2011 12:08 am
Re: 2014 Biglaw Bonus Thread
So now that NYC to 190 is set in stone, how long til other markets follow suit?
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- B.B. Homemaker
- Posts: 3452
- Joined: Fri Jan 18, 2013 11:00 pm
Re: 2014 Biglaw Bonus Thread
I was gonna ask what the deal was with $190. Why is that the magic number?
- Cobretti
- Posts: 2593
- Joined: Tue Aug 21, 2012 12:45 am
Re: 2014 Biglaw Bonus Thread
It seems to be that most of the people speaking in such extremes are the c/o 2010-2012 group who are just overly jaded from how negatively the recession hit them. Can't really blame them, I'd be pessimistic too, but I think a more objective look at the facts supports a base pay raise within the next couple years.Monochromatic Oeuvre wrote:I get the notion that Biglaw is less likely to have a base bump if they want to go to the IB model where compensation is more variable based on the performance of the year (driving a stake into risk-averse law students). But I really don't understand the people who say it's not possible or is really unlikely. Bonuses, PPP, and deal activity are all higher than 2006, whose results spurred the last pay bump the following January.
- Old Gregg
- Posts: 5409
- Joined: Thu Sep 01, 2011 1:26 pm
Re: 2014 Biglaw Bonus Thread
Depends on strength of the economy. Unclear whether even our current "growth" can be sustained for the next couple of years. Wouldn't be surprised to see another recession and another bout of layoffs before a really fulsome set of salary raises comes through. Just my perspective.It seems to be that most of the people speaking in such extremes are the c/o 2010-2012 group who are just overly jaded from how negatively the recession hit them. Can't really blame them, I'd be pessimistic too, but I think a more objective look at the facts supports a base pay raise within the next couple years.
- cookiejar1
- Posts: 867
- Joined: Fri Mar 11, 2011 2:07 am
Re: 2014 Biglaw Bonus Thread
Would you rather the number be 180? Get with the program.B.B. Homemaker wrote:I was gonna ask what the deal was with $190. Why is that the magic number?
NYC to 190!
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- Posts: 35
- Joined: Mon Aug 04, 2014 2:11 pm
Re: 2014 Biglaw Bonus Thread
Don't get me wrong, I'm all for NYC to 190, but that just seems highly unlikely. It's way beyond the rate of inflation, which would put us just over 170. I'm with DF: I think 175 is possible (provided the economy stays strong), with 180 being the upper bound.cookiejar1 wrote:Would you rather the number be 180? Get with the program.B.B. Homemaker wrote:I was gonna ask what the deal was with $190. Why is that the magic number?
NYC to 190!
- jbagelboy
- Posts: 10361
- Joined: Thu Nov 29, 2012 7:57 pm
Re: 2014 Biglaw Bonus Thread
TLS has rather taken a "if we build it, they will come" approach to 190 for the past three or so years now. I agree 175 is more likely. That makes 190 with bonus so I'm into it.sweeteavodka wrote:Don't get me wrong, I'm all for NYC to 190, but that just seems highly unlikely. It's way beyond the rate of inflation, which would put us just over 170. I'm with DF: I think 175 is possible (provided the economy stays strong), with 180 being the upper bound.cookiejar1 wrote:Would you rather the number be 180? Get with the program.B.B. Homemaker wrote:I was gonna ask what the deal was with $190. Why is that the magic number?
NYC to 190!
- Cobretti
- Posts: 2593
- Joined: Tue Aug 21, 2012 12:45 am
Re: 2014 Biglaw Bonus Thread
I think 190 is unrealistically high too, but don't forget that salary needs to keep pace with the increases in tuition above inflation as well if its going to stay relatively equal.sweeteavodka wrote:Don't get me wrong, I'm all for NYC to 190, but that just seems highly unlikely. It's way beyond the rate of inflation, which would put us just over 170. I'm with DF: I think 175 is possible (provided the economy stays strong), with 180 being the upper bound.cookiejar1 wrote:Would you rather the number be 180? Get with the program.B.B. Homemaker wrote:I was gonna ask what the deal was with $190. Why is that the magic number?
NYC to 190!
ETA: NU as an example. 06/07 tuition was 40k, its 56k now.
Last edited by Cobretti on Thu Dec 11, 2014 10:45 pm, edited 1 time in total.
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Re: 2014 Biglaw Bonus Thread
NYC TO 230!!!
Seriously? What are you waiting for?
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