Bonus Speculation

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Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Mon Dec 04, 2017 1:39 pm

Desert Fox wrote:
Anonymous User wrote:
Desert Fox wrote:
Anonymous User wrote:
Desert Fox wrote:
nybar2017 wrote:AkTTTin Gump not paying stub bonuses.


do you guys get stipends?

yeah - 10k Stipend


Whoever outted this to ATL just fucked over future classes. 10k stipend >> whatever bonus stubs typically get. At most it's like 3,750 and that's if you are on track for 2000 hours at firms without hours cut offs. It wouldn't surprise me if most stubs wouldn't anything at Akin even if they were eligible.

I'm the OP re 10k Stipend - the stipend is a 10k loan, so you still gotta pay it back. Still kinda shitty imo, but it was nice to have the 10k upfront, untaxed to get me through the summer.

Edit:
My understanding was that a bunch of DC firms did stipend instead of stub bonus.

Also, most friends in stub bonus firms got nothing, since they were pretty dry and in their honeymoon period for the first couple months at the firm (no steady work flow)


Stipend = Free cash
Advance = Loan

If you had to pay it back, I take back what I said. But many firms give 10-20k free cash but then don't do a stub year bonus. That is better than advance + stub bonus. Sounds like Akin is just doing advance + NOBUONUS. That sucks. Lets bash this TTT.

Do it. I need a payout

Edit:
Also, they called it a stipend, IIRC. I've been bamboozled, or I'm just not remembering things correctly. Either way, this calls for riots and better snack bars.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Mon Dec 04, 2017 2:09 pm

Anonymous User wrote:
Desert Fox wrote:
nybar2017 wrote:AkTTTin Gump not paying stub bonuses.


do you guys get stipends?

yeah - 10k Stipend

Does Akin do bar reimbursement on top of that? If so, that's pretty good IMO.

NVM, just realized it was a loan. That's extremely shitty.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Mon Dec 04, 2017 6:05 pm

Hogan Lovells also doesn't do stub year bonuses, but we did have a stipend for bar study. Only $4k before taxes though.

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Yugihoe
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Re: Bonus Speculation

Postby Yugihoe » Mon Dec 04, 2017 6:10 pm

Anonymous User wrote:Hogan Lovells also doesn't do stub year bonuses, but we did have a stipend for bar study. Only $4k before taxes though.


On top of bar reimbursement fees? If so, that's on par with sub year bonuses since 15k prorated comes out to 4-5 k for most first years depending on start date.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Mon Dec 04, 2017 6:15 pm

Anyone hear anything about foley & Lardner?

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Mr. Peanutbutter
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Re: Bonus Speculation

Postby Mr. Peanutbutter » Mon Dec 04, 2017 6:18 pm

Yugihoe wrote:
Anonymous User wrote:Hogan Lovells also doesn't do stub year bonuses, but we did have a stipend for bar study. Only $4k before taxes though.


On top of bar reimbursement fees? If so, that's on par with sub year bonuses since 15k prorated comes out to 4-5 k for most first years depending on start date.

Yeah, and that money is worth way more to you before you start working

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Mon Dec 04, 2017 8:02 pm

Yugihoe wrote:
Anonymous User wrote:Hogan Lovells also doesn't do stub year bonuses, but we did have a stipend for bar study. Only $4k before taxes though.


On top of bar reimbursement fees? If so, that's on par with sub year bonuses since 15k prorated comes out to 4-5 k for most first years depending on start date.

On top of bar reimbursement and they do direct billing for bar courses, which is nice.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Mon Dec 04, 2017 9:49 pm

At my V50 DC firm, we got a 10k stipend, plus bar course reimbursement, plus a stub bonus. I didn't realize other firms were so stingy.

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Yugihoe
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Re: Bonus Speculation

Postby Yugihoe » Mon Dec 04, 2017 10:30 pm

Anonymous User wrote:At my V50 DC firm, we got a 10k stipend, plus bar course reimbursement, plus a stub bonus. I didn't realize other firms were so stingy.


That's pretty exceptional. Most NY firms give either a salary advance or a stub bonus.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Mon Dec 04, 2017 10:50 pm

Anyone know if K&E gives bonuses to stub years?

We got $25K as a bar stipend so I doubt it, but was holding out hope lol.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Mon Dec 04, 2017 10:55 pm

My DC v70 firm does 10k stipend (for everything, so no direct billing bar review course) and no stub bonus.

Works out to 6k or so after taxes to pay for bar review course, bar fees, moving expenses, etc in total. Kinda sucks but at least it isn't a loan like that TTTT stuff at Akin.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Mon Dec 04, 2017 11:25 pm

Anonymous User wrote:At my V50 DC firm, we got a 10k stipend, plus bar course reimbursement, plus a stub bonus. I didn't realize other firms were so stingy.


Hell, I'm at a big firm in a secondary market and we got $5k stipend, bar course (and all other bar fees) reimbursement, plus stub bonus

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Chardee_MacDennis
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Re: Bonus Speculation

Postby Chardee_MacDennis » Mon Dec 04, 2017 11:47 pm

Anonymous User wrote:Anyone know if K&E gives bonuses to stub years?

We got $25K as a bar stipend so I doubt it, but was holding out hope lol.


No

dabigchina
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Re: Bonus Speculation

Postby dabigchina » Mon Dec 04, 2017 11:48 pm

Anonymous User wrote:Anyone know if K&E gives bonuses to stub years?

We got $25K as a bar stipend so I doubt it, but was holding out hope lol.

Holy shit, they really need to advertise that bar stipend a little more.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Tue Dec 05, 2017 1:52 am

dabigchina wrote:
Anonymous User wrote:Anyone know if K&E gives bonuses to stub years?

We got $25K as a bar stipend so I doubt it, but was holding out hope lol.

Holy shit, they really need to advertise that bar stipend a little more.


whaaat? true stipend or advance? please say the former...

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Tue Dec 05, 2017 1:54 am

Anonymous User wrote:
dabigchina wrote:
Anonymous User wrote:Anyone know if K&E gives bonuses to stub years?

We got $25K as a bar stipend so I doubt it, but was holding out hope lol.

Holy shit, they really need to advertise that bar stipend a little more.


whaaat? true stipend or advance? please say the former...


It was a stipend, not an advance.

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jkpolk
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Re: Bonus Speculation

Postby jkpolk » Tue Dec 05, 2017 2:31 am

tbh it's bullshit firms aren't more transparent regarding nuances of comp when they make offers. but then i guess it's really on ppl to ask and career services to explain the elements of law firm comp to those that dont know but fucking lol at career services' incentive misalignment and the capacity of law students to do something they aren't told to do. so ultimately we need ATL to address the market failure and shame management? shit is so weird.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Tue Dec 05, 2017 8:28 am

Anonymous User wrote:
Anonymous User wrote:
dabigchina wrote:
Anonymous User wrote:Anyone know if K&E gives bonuses to stub years?

We got $25K as a bar stipend so I doubt it, but was holding out hope lol.

Holy shit, they really need to advertise that bar stipend a little more.


whaaat? true stipend or advance? please say the former...


It was a stipend, not an advance.


The regular stipend is $10k. You get $25k if you do a PILI fellowship. They only keeep open a certain number of the PILI stipends, so not everyone can do it.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Tue Dec 05, 2017 9:13 am

charliekelly33 wrote:
Anonymous User wrote:
Desert Fox wrote:
Anonymous User wrote:
Desert Fox wrote:
nybar2017 wrote:AkTTTin Gump not paying stub bonuses.


do you guys get stipends?

yeah - 10k Stipend


Whoever outted this to ATL just fucked over future classes. 10k stipend >> whatever bonus stubs typically get. At most it's like 3,750 and that's if you are on track for 2000 hours at firms without hours cut offs. It wouldn't surprise me if most stubs wouldn't anything at Akin even if they were eligible.

I'm the OP re 10k Stipend - the stipend is a 10k loan, so you still gotta pay it back. Still kinda shitty imo, but it was nice to have the 10k upfront, untaxed to get me through the summer.

Edit:
My understanding was that a bunch of DC firms did stipend instead of stub bonus.

Also, most friends in stub bonus firms got nothing, since they were pretty dry and in their honeymoon period for the first couple months at the firm (no steady work flow)


If its a loan then that's weak. I know of firms that pay the 10k stipend not as loan and do not do stub year bonus, which is actually more overall comp. Most firms do a loan and a stub year bonus. Akin's policy means their first years are paying back their loan (i.e., substantially lower paychecks) and not getting a stub bonus. That's rough on the start up costs/first loan payments hitting first years right now.


Akin has never given stub bonuses. The ATL "outter" should not have been surprised. Unless it changed this year, they give a bar stipend (Somewhere between $5-8k) and the option for a $10k loan, pay all bar expenses and moving costs. Stubs everywhere should consider their regular paycheck a bonus since they are useless.

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

Re: Bonus Speculation

Postby Anonymous User » Tue Dec 05, 2017 9:40 am

Does anyone have any info on Ropes?

charliekelly33
Posts: 51
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Re: Bonus Speculation

Postby charliekelly33 » Tue Dec 05, 2017 10:20 am

Anonymous User wrote:
charliekelly33 wrote:
Anonymous User wrote:
Desert Fox wrote:
Anonymous User wrote:
Desert Fox wrote:
nybar2017 wrote:AkTTTin Gump not paying stub bonuses.


do you guys get stipends?

yeah - 10k Stipend


Whoever outted this to ATL just fucked over future classes. 10k stipend >> whatever bonus stubs typically get. At most it's like 3,750 and that's if you are on track for 2000 hours at firms without hours cut offs. It wouldn't surprise me if most stubs wouldn't anything at Akin even if they were eligible.

I'm the OP re 10k Stipend - the stipend is a 10k loan, so you still gotta pay it back. Still kinda shitty imo, but it was nice to have the 10k upfront, untaxed to get me through the summer.

Edit:
My understanding was that a bunch of DC firms did stipend instead of stub bonus.

Also, most friends in stub bonus firms got nothing, since they were pretty dry and in their honeymoon period for the first couple months at the firm (no steady work flow)


If its a loan then that's weak. I know of firms that pay the 10k stipend not as loan and do not do stub year bonus, which is actually more overall comp. Most firms do a loan and a stub year bonus. Akin's policy means their first years are paying back their loan (i.e., substantially lower paychecks) and not getting a stub bonus. That's rough on the start up costs/first loan payments hitting first years right now.


Akin has never given stub bonuses. The ATL "outter" should not have been surprised. Unless it changed this year, they give a bar stipend (Somewhere between $5-8k) and the option for a $10k loan, pay all bar expenses and moving costs. Stubs everywhere should consider their regular paycheck a bonus since they are useless.


Lol this must be where the attitude comes from that justified not paying market to your most financially vulnerable associates. Also, that valuable third/fourth year associate has to start their job without experience at some point, and, if they start it at Akin, they will be compensated below market.

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jkpolk
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Re: Bonus Speculation

Postby jkpolk » Tue Dec 05, 2017 10:44 am

Anonymous User wrote:Akin has never given stub bonuses. The ATL "outter" should not have been surprised. Unless it changed this year, they give a bar stipend (Somewhere between $5-8k) and the option for a $10k loan, pay all bar expenses and moving costs. Stubs everywhere should consider their regular paycheck a bonus since they are useless.


fucking lol at this anon partner shill. it's not that stubs are "useful" or "worth the money", it's that the "market" is going to punish (well, uhhh, maybe not punish, but talk shit about) firms below industry norms in any aspect of compensation, especially if it's because the firm was hiding the ball with new hires. alot of comp isnt negotiated or in a contract because labor expects market norms to dictate (as it is in many industries). if that's no longer the case (at a firm or industry wide) it's 100% for management's benefit (and may be unnoticed for a while) but there will eventually be pushback. just so happens that this industry doesnt have formal, negotiation channels for pushback so you get shit like atl


estefanchanning
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Re: Bonus Speculation

Postby estefanchanning » Tue Dec 05, 2017 2:09 pm



I am excited to see if Hueston Hennigan will beat WWE.

FascinatedWanderer
Posts: 270
Joined: Sat Jun 13, 2015 10:12 pm

Re: Bonus Speculation

Postby FascinatedWanderer » Tue Dec 05, 2017 2:14 pm

Eh. Susman will beat the Cravath bonuses, and so will other boutiques. No one should be surprised that biglaw isn't' the place to be if you're a litigator.




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