Bonus Speculation

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PorscheFanatic
Posts: 62
Joined: Wed Oct 25, 2017 5:19 pm

Re: Bonus Speculation

Postby PorscheFanatic » Mon Nov 13, 2017 5:13 pm

Also, forgetting about above market bonuses, but do most first years even get bonuses at market?

It seems to be the consensus that many first years are slow all through stub year and well into first year as well, which I'm assuming means a lot of people don't hit the hours for a market bonus in year 1.

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SmokeytheBear
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Joined: Wed Jun 15, 2016 1:40 pm

Re: Bonus Speculation

Postby SmokeytheBear » Mon Nov 13, 2017 5:18 pm

I've crunched the numbers, done the spreadsheets, gone through a tin of Kodiak wintergreen long cut, and been up since last Thursday running various algorithms. This is how it's going to shake out:

Class -- 2016 -- 2017

Class of 2017 (pro-rated) -- 15,000 --> 15,000
Class of 2016 -- 15,000 --> 15,000
Class of 2015 -- 25,000 --> 25,000
Class of 2014 -- 50,000 --> 60,000
Class of 2013 -- 65,000 --> 75,000
Class of 2012 -- 80,000 --> 90,000
Class of 2011 -- 90,000 --> 100,000
Class of 2010 -- 100,000 --> 110,000
Class of 2009 -- 100,000 --> 110,000

KM2016
Posts: 236
Joined: Wed Jul 09, 2014 1:20 am

Re: Bonus Speculation

Postby KM2016 » Mon Nov 13, 2017 5:20 pm

SmokeytheBear wrote:I've crunched the numbers, done the spreadsheets, gone through a tin of Kodiak wintergreen long cut, and been up since last Thursday running various algorithms. This is how it's going to shake out:

Class -- 2016 -- 2017

Class of 2017 (pro-rated) -- 15,000 --> 15,000
Class of 2016 -- 15,000 --> 15,000
Class of 2015 -- 25,000 --> 25,000
Class of 2014 -- 50,000 --> 60,000
Class of 2013 -- 65,000 --> 75,000
Class of 2012 -- 80,000 --> 90,000
Class of 2011 -- 90,000 --> 100,000
Class of 2010 -- 100,000 --> 110,000
Class of 2009 -- 100,000 --> 110,000


Giving the shaft to rising second and third years, I see. If bonuses do go up at all, I think even juniors would see a nominal ($5k) raise.

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SmokeytheBear
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Re: Bonus Speculation

Postby SmokeytheBear » Mon Nov 13, 2017 5:25 pm

KM2016 wrote:
SmokeytheBear wrote:I've crunched the numbers, done the spreadsheets, gone through a tin of Kodiak wintergreen long cut, and been up since last Thursday running various algorithms. This is how it's going to shake out:

Class -- 2016 -- 2017

Class of 2017 (pro-rated) -- 15,000 --> 15,000
Class of 2016 -- 15,000 --> 15,000
Class of 2015 -- 25,000 --> 25,000
Class of 2014 -- 50,000 --> 60,000
Class of 2013 -- 65,000 --> 75,000
Class of 2012 -- 80,000 --> 90,000
Class of 2011 -- 90,000 --> 100,000
Class of 2010 -- 100,000 --> 110,000
Class of 2009 -- 100,000 --> 110,000


Giving the shaft to rising second and third years, I see. If bonuses do go up at all, I think even juniors would see a nominal ($5k) raise.


WRONG. Fake news.

Very sad.

charliekelly33
Posts: 39
Joined: Mon Jul 28, 2014 8:35 am

Re: Bonus Speculation

Postby charliekelly33 » Mon Nov 13, 2017 5:49 pm

SmokeytheBear wrote:
KM2016 wrote:
SmokeytheBear wrote:I've crunched the numbers, done the spreadsheets, gone through a tin of Kodiak wintergreen long cut, and been up since last Thursday running various algorithms. This is how it's going to shake out:

Class -- 2016 -- 2017

Class of 2017 (pro-rated) -- 15,000 --> 15,000
Class of 2016 -- 15,000 --> 15,000
Class of 2015 -- 25,000 --> 25,000
Class of 2014 -- 50,000 --> 60,000
Class of 2013 -- 65,000 --> 75,000
Class of 2012 -- 80,000 --> 90,000
Class of 2011 -- 90,000 --> 100,000
Class of 2010 -- 100,000 --> 110,000
Class of 2009 -- 100,000 --> 110,000


Giving the shaft to rising second and third years, I see. If bonuses do go up at all, I think even juniors would see a nominal ($5k) raise.


WRONG. Fake news.

Very sad.


How much of 15k do you actually take home on the day you get the bonus?

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cfcm
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Re: Bonus Speculation

Postby cfcm » Mon Nov 13, 2017 6:37 pm

SmokeytheBear wrote:I've crunched the numbers, done the spreadsheets, gone through a tin of Kodiak wintergreen long cut, and been up since last Thursday running various algorithms. This is how it's going to shake out:

Class -- 2016 -- 2017

Class of 2017 (pro-rated) -- 15,000 --> 15,000
Class of 2016 -- 15,000 --> 15,000
Class of 2015 -- 25,000 --> 25,000
Class of 2014 -- 50,000--> 60,000
Class of 2013 -- 65,000 --> 75,000
Class of 2012 -- 80,000--> 90,000
Class of 2011 -- 90,000 --> 100,000
Class of 2010 -- 100,000--> 110,000
Class of 2009 -- 100,000 --> 110,000


Smokey--

This was generally okay but you made a few edits from the precedent that I didn't understand.

Please review and incorporate my changes and send to the management committee, copying me, when you are done.

Thank,

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2014
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Re: Bonus Speculation

Postby 2014 » Mon Nov 13, 2017 11:34 pm

charliekelly33 wrote:
SmokeytheBear wrote:
KM2016 wrote:
SmokeytheBear wrote:I've crunched the numbers, done the spreadsheets, gone through a tin of Kodiak wintergreen long cut, and been up since last Thursday running various algorithms. This is how it's going to shake out:

Class -- 2016 -- 2017

Class of 2017 (pro-rated) -- 15,000 --> 15,000
Class of 2016 -- 15,000 --> 15,000
Class of 2015 -- 25,000 --> 25,000
Class of 2014 -- 50,000 --> 60,000
Class of 2013 -- 65,000 --> 75,000
Class of 2012 -- 80,000 --> 90,000
Class of 2011 -- 90,000 --> 100,000
Class of 2010 -- 100,000 --> 110,000
Class of 2009 -- 100,000 --> 110,000


Giving the shaft to rising second and third years, I see. If bonuses do go up at all, I think even juniors would see a nominal ($5k) raise.


WRONG. Fake news.

Very sad.


How much of 15k do you actually take home on the day you get the bonus?

It was just south of 9 grand for me, ymmv based on your tax situation.

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Greenandgold
Posts: 261
Joined: Mon Jun 27, 2011 12:45 pm

Re: Bonus Speculation

Postby Greenandgold » Tue Nov 14, 2017 10:02 am

2014 wrote:
charliekelly33 wrote:
SmokeytheBear wrote:
KM2016 wrote:
SmokeytheBear wrote:I've crunched the numbers, done the spreadsheets, gone through a tin of Kodiak wintergreen long cut, and been up since last Thursday running various algorithms. This is how it's going to shake out:

Class -- 2016 -- 2017

Class of 2017 (pro-rated) -- 15,000 --> 15,000
Class of 2016 -- 15,000 --> 15,000
Class of 2015 -- 25,000 --> 25,000
Class of 2014 -- 50,000 --> 60,000
Class of 2013 -- 65,000 --> 75,000
Class of 2012 -- 80,000 --> 90,000
Class of 2011 -- 90,000 --> 100,000
Class of 2010 -- 100,000 --> 110,000
Class of 2009 -- 100,000 --> 110,000


Giving the shaft to rising second and third years, I see. If bonuses do go up at all, I think even juniors would see a nominal ($5k) raise.


WRONG. Fake news.

Very sad.


How much of 15k do you actually take home on the day you get the bonus?

It was just south of 9 grand for me, ymmv based on your tax situation.


Just checked my paystub. It was almost exactly $11,000 for me. But I remember owing around $2,000 in taxes come April. So regardless of how much is deposited in your account, keep in mind that you might be cutting the government a check a few months later if your firm didn't withhold enough in taxes.

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nealric
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Re: Bonus Speculation

Postby nealric » Tue Nov 14, 2017 10:10 am

One million dollars. All class years.

Image

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Tue Nov 14, 2017 1:31 pm

Feels like a bonus. Now that I met my SS limit and the gov is not deducting SS tax….$1500 net income a month! Whoopie!

PorscheFanatic
Posts: 62
Joined: Wed Oct 25, 2017 5:19 pm

Re: Bonus Speculation

Postby PorscheFanatic » Tue Nov 14, 2017 1:51 pm

Anonymous User wrote:Feels like a bonus. Now that I met my SS limit and the gov is not deducting SS tax….$1500 net income a month! Whoopie!


Can you explain how this works? What is your typical percentage of take home in the early months of the year vs your percentage now? $1500 more seems high, but I'm also only a stub year, so I probably contribute less to SS than you.

KM2016
Posts: 236
Joined: Wed Jul 09, 2014 1:20 am

Re: Bonus Speculation

Postby KM2016 » Tue Nov 14, 2017 1:58 pm

PorscheFanatic wrote:
Anonymous User wrote:Feels like a bonus. Now that I met my SS limit and the gov is not deducting SS tax….$1500 net income a month! Whoopie!


Can you explain how this works? What is your typical percentage of take home in the early months of the year vs your percentage now? $1500 more seems high, but I'm also only a stub year, so I probably contribute less to SS than you.


For SS, you are taxed at 6.2% on the first $118,500 of wages (for 2017). After that, you no longer pay SS (or FICA/OASDI) and thus are no longer taxed that 6.2%. Depending on class year, that can range from an extra $1000-$2000ish per month. A first year will hit that limit in September-ish, whereas someone more senior can hit it as early as July.

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JenDarby
Posts: 16649
Joined: Wed Oct 20, 2010 3:02 am

Re: Bonus Speculation

Postby JenDarby » Tue Nov 14, 2017 4:10 pm

KM2016 wrote:
PorscheFanatic wrote:
Anonymous User wrote:Feels like a bonus. Now that I met my SS limit and the gov is not deducting SS tax….$1500 net income a month! Whoopie!


Can you explain how this works? What is your typical percentage of take home in the early months of the year vs your percentage now? $1500 more seems high, but I'm also only a stub year, so I probably contribute less to SS than you.


For SS, you are taxed at 6.2% on the first $118,500 of wages (for 2017). After that, you no longer pay SS (or FICA/OASDI) and thus are no longer taxed that 6.2%. Depending on class year, that can range from an extra $1000-$2000ish per month. A first year will hit that limit in September-ish, whereas someone more senior can hit it as early as July.

The 2017 limit is $127,200. It was $118,500 in 2016.

In 2018 it goes up to $128,700.

KM2016
Posts: 236
Joined: Wed Jul 09, 2014 1:20 am

Re: Bonus Speculation

Postby KM2016 » Tue Nov 14, 2017 4:34 pm

JenDarby wrote:
KM2016 wrote:
PorscheFanatic wrote:
Anonymous User wrote:Feels like a bonus. Now that I met my SS limit and the gov is not deducting SS tax….$1500 net income a month! Whoopie!


Can you explain how this works? What is your typical percentage of take home in the early months of the year vs your percentage now? $1500 more seems high, but I'm also only a stub year, so I probably contribute less to SS than you.


For SS, you are taxed at 6.2% on the first $118,500 of wages (for 2017). After that, you no longer pay SS (or FICA/OASDI) and thus are no longer taxed that 6.2%. Depending on class year, that can range from an extra $1000-$2000ish per month. A first year will hit that limit in September-ish, whereas someone more senior can hit it as early as July.

The 2017 limit is $127,200. It was $118,500 in 2016.

In 2018 it goes up to $128,700.


I stand corrected...clearly I don't pay enough attention to my taxes lol. But the mechanics remain the same. Glad to see the 2018 rate didn't jump by $9,000 like it did from 2016 to 2017.

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

Re: Bonus Speculation

Postby Anonymous User » Wed Nov 15, 2017 12:55 am

JenDarby wrote:The 2017 limit is $127,200. It was $118,500 in 2016.

In 2018 it goes up to $128,700.


Might the ’18 SS figure change if the gov implements their new tax reform? Honestly, I am confused on when the rewrite will be implemented (if they come up with reform).

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UnfrozenCaveman
Posts: 285
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Re: Bonus Speculation

Postby UnfrozenCaveman » Wed Nov 15, 2017 6:25 pm

Anonymous User wrote:
JenDarby wrote:The 2017 limit is $127,200. It was $118,500 in 2016.

In 2018 it goes up to $128,700.


Might the ’18 SS figure change if the gov implements their new tax reform? Honestly, I am confused on when the rewrite will be implemented (if they come up with reform).


There has been some talk of allowing lower incomes to receive credits against payroll taxes, but the potential tax reform is for income taxes generally. I've seen no talk of changing payroll tax as part of the reform.

BigZuck
Posts: 11710
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Re: Bonus Speculation

Postby BigZuck » Wed Nov 15, 2017 6:27 pm

Yo Trumpers no one cares start speculating about bonuses you goons

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SmokeytheBear
Posts: 810
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Re: Bonus Speculation

Postby SmokeytheBear » Wed Nov 15, 2017 7:13 pm

BigZuck wrote:Yo Trumpers no one cares start speculating about bonuses you goons


I voted for Clinton. Would have voted for Bernie if I could have.

BigZuck
Posts: 11710
Joined: Tue Sep 04, 2012 9:53 am

Re: Bonus Speculation

Postby BigZuck » Wed Nov 15, 2017 7:37 pm

SmokeytheBear wrote:
BigZuck wrote:Yo Trumpers no one cares start speculating about bonuses you goons


I voted for Clinton. Would have voted for Bernie if I could have.

And you also actively stoke our bonus speculation FERVOR which is appreciated. These other goofballs need to GTFO

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LaLiLuLeLo
Posts: 536
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Re: Bonus Speculation

Postby LaLiLuLeLo » Wed Nov 15, 2017 9:41 pm

Lunch with partner today. He only tipped $3. Sorry lads, bonus just became BONEUS

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Wed Nov 15, 2017 10:41 pm

Word on the strasse at Milbank LA is that they changed or vacation plan (from accruing to unlimited with a payout of all accrued and unused on 11/30) at least in part because they had a ton of excess cash sitting around that they wanted to pay out. This bodes well for bonuses, at least for the upper echelons of AmLaw firms.

KM2016
Posts: 236
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Re: Bonus Speculation

Postby KM2016 » Wed Nov 15, 2017 11:38 pm

Anonymous User wrote:Word on the strasse at Milbank LA is that they changed or vacation plan (from accruing to unlimited with a payout of all accrued and unused on 11/30) at least in part because they had a ton of excess cash sitting around that they wanted to pay out. This bodes well for bonuses, at least for the upper echelons of AmLaw firms.


I like your spin on this; the optimism is inspiring. But in reality, this is a money saver because now they don't have to pay out unused vacation days in the future.

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Capitol_Idea
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Re: Bonus Speculation

Postby Capitol_Idea » Wed Nov 15, 2017 11:47 pm

LaLiLuLeLo wrote:Lunch with partner today. He only tipped $3. Sorry lads, bonus just became BONEUS

Maybe he was saving up because he knows how hard the MASSIVE BONUSES for associates are going to hit his pocketbook later

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Thu Nov 16, 2017 1:36 am

Anonymous User wrote:Word on the strasse at Milbank LA is that they changed or vacation plan (from accruing to unlimited with a payout of all accrued and unused on 11/30) at least in part because they had a ton of excess cash sitting around that they wanted to pay out. This bodes well for bonuses, at least for the upper echelons of AmLaw firms.


check what your employee handbook says now about future accruing/paying out vaca time. do labor and emp here and it is common to payout current vaca/change the policy to not allow cash payouts in the future.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Thu Nov 16, 2017 10:52 am

is there a standard time bonuses are actually paid?




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