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Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 5:56 pm
by Old Gregg
Biglaw_Associate_V20 wrote:zweitbester wrote:Bottom line is that this is a firm that used to use the Wall Street bonuses as a floor and go as high as 3x to 4x for top of class associates. It's a shame that 2x is now the ceiling.
Still objectively great numbers. But PPP is way higher now. K&E should do better. I'm sure juniors are happy, but 6th years and NSPs are still making less than they did when they started in many cases (from a pure bonus perspective, not base salary obviously).
To be fair, it would be kind of retarded to be giving out 400k bonuses to senior associates. That's probably more than the actual salaries of some non-equity partners.
Nope, it's how it works and it makes sense if you know K&E. You don't compensate NSPs who definitely aren't getting shares more than senior associates who are definitely going to get shares after they become NSPs.
It's pretty well known whether you even have a shot at shares before you make NSP. Most NSPs don't have a chance in hell. Just taking up space until their inevitable departure.
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 6:02 pm
by fats provolone
Riffing off of the car comparison from yesterday’s Sidley post, one K&E tipster said, “If we’re Audi, then we’re a fleet of R8s.”
oh god make it stop
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 6:02 pm
by Old Gregg
fats provolone wrote:Riffing off of the car comparison from yesterday’s Sidley post, one K&E tipster said, “If we’re Audi, then we’re a fleet of R8s.”
oh god make it stop
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 6:06 pm
by mmelittlechicken
that analogy actually made me cringe
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 6:07 pm
by Desert Fox
zweitbester wrote:Bottom line is that this is a firm that used to use the Wall Street bonuses as a floor and go as high as 3x to 4x for top of class associates. It's a shame that 2x is now the ceiling.
Still objectively great numbers. But PPP is way higher now. K&E should do better. I'm sure juniors are happy, but 6th years and NSPs are still making less than they did when they started in many cases (from a pure bonus perspective, not base salary obviously).
It's really just juniors who are getting squeezed. Probably because we are less profitable in general since the crash and we have less leverage.
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:01 pm
by Desert Fox
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:02 pm
by Mal Reynolds
$3750?
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:07 pm
by fats provolone
that's shopped right?
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:09 pm
by jbagelboy
so if I'm reading that right, an associate billing 2100-2400 hrs makes the "DPW" scale?
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:10 pm
by Desert Fox
jbagelboy wrote:so if I'm reading that right, an associate billing 2100-2400 hrs makes the "DPW" scale?
But 2099 is half DPW. 1999 is 1/4th.
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:11 pm
by Anonymous User
lol at the 2013 assoc working 2700+ hours
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:11 pm
by Desert Fox
Fatduck throwing his Quinn Sandals in the trash.
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:12 pm
by jbagelboy
Desert Fox wrote:jbagelboy wrote:so if I'm reading that right, an associate billing 2100-2400 hrs makes the "DPW" scale?
But 2099 is half DPW. 1999 is 1/4th.
quinn's always been below market for "low billers" though. that's the whole point. that's the culture.
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:13 pm
by Mal Reynolds
The people in my class going to QE are already drinking the Koolaid so hard.
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:18 pm
by anonnymouse
Desert Fox wrote:Fatduck throwing his Quinn Sandals in the trash.
SPS, a TTT in decline. LJL at 2011 KE 2400 hr bros stylin on 2011 QE 2700 hr flip flop-havers. CHECK YOU BONUSES, John Quinn.
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:20 pm
by Desert Fox
jbagelboy wrote:Desert Fox wrote:jbagelboy wrote:so if I'm reading that right, an associate billing 2100-2400 hrs makes the "DPW" scale?
But 2099 is half DPW. 1999 is 1/4th.
quinn's always been below market for "low billers" though. that's the whole point. that's the culture.
Future QuinnNY associate?
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:23 pm
by fats provolone
prorated $15k for stubbies is like $3k+. if ur a first year and bill 1950 and get barely more than a stubby you gotta kys right?
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:45 pm
by Cobretti
for firms that give a year of seniority for MBAs, do you typically still get a prorated bonus your stub year?
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 7:46 pm
by jbagelboy
Desert Fox wrote:jbagelboy wrote:Desert Fox wrote:jbagelboy wrote:so if I'm reading that right, an associate billing 2100-2400 hrs makes the "DPW" scale?
But 2099 is half DPW. 1999 is 1/4th.
quinn's always been below market for "low billers" though. that's the whole point. that's the culture.
Future QuinnNY associate?
Most definitely not. Fuck that noise. I want to bill 1850 with impunity
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 10:48 pm
by run26.2
QE's scale is fine, to me. It just provides a lot of incentive to bill 2100 hours. That's smart by the firm. Productive associates who don't kill themselves. It may not play out that way, but at least the scale incentivizes that.
Re: 2014 Biglaw Bonus Thread
Posted: Fri Dec 19, 2014 11:42 pm
by fats provolone
run26.2 wrote:QE's scale is fine, to me. It just provides a lot of incentive to bill 2100 hours. That's smart by the firm. Productive associates who don't kill themselves. It may not play out that way, but at least the scale incentivizes that.
(stockholm syndrome)
Re: 2014 Biglaw Bonus Thread
Posted: Sat Dec 20, 2014 12:32 am
by GOATlawman
i've always wondered if the QE kids were bullshitting when they say they billed 3k
Re: 2014 Biglaw Bonus Thread
Posted: Sat Dec 20, 2014 12:36 am
by fats provolone
GOATlawman wrote:i've always wondered if the QE kids were bullshitting when they say they billed 3k
if i was gonna get like 1/10 market for hitting sub-2000 i would churn baby churn
Re: 2014 Biglaw Bonus Thread
Posted: Sat Dec 20, 2014 2:05 am
by Johann
fats provolone wrote:prorated $15k for stubbies is like $3k+. if ur a first year and bill 1950 and get barely more than a stubby you gotta kys right?
my firm runs on this model and i basically think its the opposite. who would ever work over 2101? your an idiot to do that and your per hour take home falls off acliff after 2101. me, im content to hit 1900. 7500 bucks or whatever the fuck it is is def worth having a life to me. i make 160k in a cheap ass city. i already have too much money to do shit with. why do i care about anothe rcouple gs
Re: 2014 Biglaw Bonus Thread
Posted: Sat Dec 20, 2014 2:14 am
by fats provolone
but if you're at Quinn it's not like you didn't have options.
