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Re: 2014 Biglaw Bonus Thread
Posted: Wed Dec 17, 2014 3:56 pm
by Desert Fox
zweitbester wrote:There is no way GDC attorneys bill that little as a whole, at least not in corporate or in litigation.
Firms get artificially low numbers by massaging the stats. It likely includes part-timers, people on parental leave, people who got fired but get 6 months to look for a job, people who gave up and are coasting, first years who aren't busy for 6 months.
Also, there are more people than you think who just bill 1500 hours for 2-3 years, collect dem paychecks and leave. Probably the sanest among us.
Re: 2014 Biglaw Bonus Thread
Posted: Wed Dec 17, 2014 4:00 pm
by ruski
Desert Fox wrote:zweitbester wrote:There is no way GDC attorneys bill that little as a whole, at least not in corporate or in litigation.
Also, there are more people than you think who just bill 1500 hours for 2-3 years, collect dem paychecks and leave. Probably the sanest among us.
this. the average figures include the T&E associates, ERISA associates, the BK associates (who are slow now), the pple who took maternity/pat leave, the environmental associates, and whatever other practice group is slow.
Re: 2014 Biglaw Bonus Thread
Posted: Wed Dec 17, 2014 4:49 pm
by Anonymous User
Anonymous User wrote:Anonymous User wrote:Anonymous User wrote:In GDC's defense, the associates at GDC bill waaaaaaaay less on average than at any of the big NYC firms. Average billables were like 1750 for associates this year.
Contrary to popular belief, most of the elite firms have a similar number for average billables. Skadden's average is about the same, or maybe a touch higher this year. Granted, that is a firmwide number, so NY may be higher, but I don't think most people work as hard as they say they do. The problem with big law is that average billables doesn't speak to how many people are working any given number of hours.
Original anon here.
The 1750 number includes senior associates at GDC who bill a shitton. The number for junior associates was closer to 1400. I would be absolutely shocked if Skadden juniors billed that little. Also, Skadden must have had a slow year because the numbers I was hearing during law school back in 2011 were nowhere near 1750. Even during the financial crisis, I thought Skadden associates were billing up a storm (according to a friend who went there).
Two Skadden associates in M&A in NY quoted me 3000 and 3100 hours this past year. Mid levels. I doubt it's anywhere near 1750 hours.
Re: 2014 Biglaw Bonus Thread
Posted: Wed Dec 17, 2014 5:21 pm
by KM2016
Milbank, Willkie, Freshfields, and Covington & Burling just matched the DPW scale.
http://abovethelaw.com/2014/12/associat ... avis-polk/
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 1:14 pm
by Old Gregg
interesting article:
http://www.economist.com/news/business/ ... nus-babies
i find it humorous that clients are furious about funding associates' "shopping sprees." I guess lawyers are really spoiled when submitting tens of thousands of dollars above their student loan minimum payment and then crying as the money leaves their bank accounts.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 1:16 pm
by fats provolone
man how do bankers do it. they literally destroy the economy and wipe out everyone's 401k, and everyone's basically over it. give lawyers an extra $10k and they're babies.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 1:16 pm
by Old Gregg
i guess i could've asked that question during the financial crisis. why am i paying $100+ in cumulative overdraft fees that were incurred based on some spurious excuse and misunderstanding when it's going to help pay for Thain's marble office bathroom?
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 1:19 pm
by Desert Fox
zweitbester wrote:interesting article:
http://www.economist.com/news/business/ ... nus-babies
i find it humorous that clients are furious about funding associates' "shopping sprees." I guess lawyers are really spoiled when submitting tens of thousands of dollars above their student loan minimum payment and then crying as the money leaves their bank accounts.
And what do the clients expect? A refund if the partners don't give good bonuses? That shit would just go straight to their profits.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 1:22 pm
by Old Gregg
Desert Fox wrote:zweitbester wrote:interesting article:
http://www.economist.com/news/business/ ... nus-babies
i find it humorous that clients are furious about funding associates' "shopping sprees." I guess lawyers are really spoiled when submitting tens of thousands of dollars above their student loan minimum payment and then crying as the money leaves their bank accounts.
And what do the clients expect? A refund if the partners don't give good bonuses? That shit would just go straight to their profits.
I found that comment so infuriating. But then again I suppose we are similarly daft when we fail to tip our doormen or give bonuses to our secretaries. This is all America: a failure to empathize.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 5:07 pm
by KM2016
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 5:18 pm
by fats provolone
ok but ljl at writing a multi-paragraph screed to atl about how kirkland is a mercedes or something
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 5:20 pm
by Mal Reynolds
Trying to follow that luxury car analogy made me want to kill myself.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 5:23 pm
by fats provolone
"The cumulative effect of these changes by Mercedes and Audi is that the former now looks like an Acura (or an Infiniti, at best)"
let's have a scavenger hunt where we search the sidley chicago attorneys directory trying to identify this person by photo/bio alone.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 5:24 pm
by Old Gregg
Car analogy dude deserves his shit bonus. And Sidley shouldn't be penalized for giving that to him.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 6:08 pm
by 84651846190
lol @ requiring 2200 hours to get a market-level bonus
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 6:21 pm
by arklaw13
still waiting for KIRKLAND SHATTERS to hit ATL
or WACHTELL TO 120%!
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 7:11 pm
by Anonymous User
Incredibly disappointing. Sets precedent for other firms?
Also seems like NYC matched, much like the Gibson Dunn scale. Maybe we'll continue to see that.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 7:21 pm
by dood
Anonymous User wrote:
Two Skadden associates in M&A in NY quoted me 3000 and 3100 hours this past year. Mid levels. I doubt it's anywhere near 1750 hours.
they were lying to you or exaggerating by a few hundred, but even then not representative of normal skadden or other comparable firms or firms with same reputation.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 7:26 pm
by Anonymous User
dood wrote:Anonymous User wrote:
Two Skadden associates in M&A in NY quoted me 3000 and 3100 hours this past year. Mid levels. I doubt it's anywhere near 1750 hours.
they were lying to you or exaggerating by a few hundred, but even then not representative of normal skadden or other comparable firms or firms with same reputation.
okay dood. tell yourself that.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 7:27 pm
by Old Gregg
Anonymous User wrote:dood wrote:Anonymous User wrote:
Two Skadden associates in M&A in NY quoted me 3000 and 3100 hours this past year. Mid levels. I doubt it's anywhere near 1750 hours.
they were lying to you or exaggerating by a few hundred, but even then not representative of normal skadden or other comparable firms or firms with same reputation.
okay dood. tell yourself that.
No, it's 100% true. But glad you feel super safe making sarcastic comments as "anonymous."
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 7:59 pm
by Anonymous User
Junior at a non-NYC office (TX/CA/IL) of a V100 which starts associates at 160.
Hit hours. Bonus ~1/3 of DPW.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 8:06 pm
by KM2016
Anonymous User wrote:Junior at a non-NYC office (TX/CA/IL) of a V100 which starts associates at 160.
Hit hours. Bonus ~1/3 of DPW.
Ouch. Is your bonus firm-wide, or does the NYC office have a higher payout?
Looks like bonuses might be where we see some separation between ~$2mil+ PPP firms, and then everyone else.
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 8:09 pm
by dood
Anonymous User wrote:Junior at a non-NYC office (TX/CA/IL) of a V100 which starts associates at 160.
Hit hours. Bonus ~1/3 of DPW.
vault 100 is pretty big spread though
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 8:09 pm
by fats provolone
NON-NY TO 145
Re: 2014 Biglaw Bonus Thread
Posted: Thu Dec 18, 2014 8:11 pm
by Desert Fox
make sense. lit is shit and everywhere but NYC is most lit.