Not too early to start thinking about this. What do people think? Firms are slammed with work across departments. My firm (traditionally a comp follower) is on track to have our best year ever.
OTOH, they just gave summer bonuses and "raises" (really COLA adjustments) and I'm not sure an additional 5-30K across all class levels is going to meaningfully boost retention.
EOY Bonus speculation Forum
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Anonymous User
- Posts: 428530
- Joined: Tue Aug 11, 2009 9:32 am
Re: EOY Bonus speculation
I expect further inflation from the market leaders. Many firms are firing on all cylinders and are hemorrhaging midlevels to in-house employers. I'm still an associate and I make ~$300k in New York. I don't think it's really enough to save much with law school loans, rent and all the rest.
Market compensation at a top Silicon Valley technology firm or Manhattan bank for someone three to four years out of law school is going to be around $300k including bonus and stock. Even setting aside the hours, it's competitive with top Manhattan law firms. Those firms need to raise compensation another ~50k in order to retain midlevels. I think we will get another 20k but not enough to really make a difference.
Market compensation at a top Silicon Valley technology firm or Manhattan bank for someone three to four years out of law school is going to be around $300k including bonus and stock. Even setting aside the hours, it's competitive with top Manhattan law firms. Those firms need to raise compensation another ~50k in order to retain midlevels. I think we will get another 20k but not enough to really make a difference.
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jkpolk
- Posts: 1236
- Joined: Thu Nov 10, 2011 10:44 am
Re: EOY Bonus speculation
I could see boneusiz going up
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Anonymous User
- Posts: 428530
- Joined: Tue Aug 11, 2009 9:32 am
Re: EOY Bonus speculation
There will probably be more separation here. I could see Cravath et al doing something like the below:
1st: 20k
2nd: 40k
3rd: 60k
4th: 80k
5th: 100k
6th: 125k
7th: 150k
8th: 150k
1st: 20k
2nd: 40k
3rd: 60k
4th: 80k
5th: 100k
6th: 125k
7th: 150k
8th: 150k
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rahulg91
- Posts: 427
- Joined: Mon Feb 11, 2013 1:30 pm
Re: EOY Bonus speculation
+1. It will be yet another opportunity for the top tier to separate from the rest of the TTT pack.Anonymous User wrote:I expect further inflation from the market leaders. Many firms are firing on all cylinders and are hemorrhaging midlevels to in-house employers.
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Anonymous User
- Posts: 428530
- Joined: Tue Aug 11, 2009 9:32 am
Re: EOY Bonus speculation
Are South Florida bonuses usually market for cravath-paying firms?
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Anonymous User
- Posts: 428530
- Joined: Tue Aug 11, 2009 9:32 am
Re: EOY Bonus speculation
Bonuses will almost certainly stay the same as 2017/2016. You know it deep down inside...
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OneTwoThreeFour
- Posts: 132
- Joined: Mon Sep 25, 2017 10:15 am
Re: EOY Bonus speculation
First of all, I know nothing deep down.Anonymous User wrote:Bonuses will almost certainly stay the same as 2017/2016. You know it deep down inside...
Second of all, first year bonus to 20k, you all heard it here first folks!
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anonnymouse
- Posts: 204
- Joined: Tue Mar 08, 2011 3:52 pm
Re: EOY Bonus speculation
In previous years I would have been furiously drumming up speculation of higher bonuses. Now I'm like, "meh, give me my $50k and I'll be on my way."OneTwoThreeFour wrote:First of all, I know nothing deep down.Anonymous User wrote:Bonuses will almost certainly stay the same as 2017/2016. You know it deep down inside...
Second of all, first year bonus to 20k, you all heard it here first folks!
