Lateral bonus negotiation

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Lateral bonus negotiation

Postby Anonymous User » Fri Apr 05, 2019 12:46 pm

A partner wants me to follow him to his new firm. I’m considering it, but considering the process won’t be done until we’re almost halfway through the year, I have concerns about my bonus. I’m a 3rd year coming from a firm with (truly) no hours requirement for bonus. Everyone gets a bonus. New firm has an hours requirement, and given some planned vacations, I’m pretty certain I won’t hit even a reduced hours requirement. I’ll only go if I can get my full bonus guaranteed. I know others that have done this (and some surprisingly late in the year) but they were more senior. Is this a totally wacky, unreasonable ask? I figure I’m not using a recruiter, don’t have to take a new bar exam, etc. so on the whole it’s not terribly expensive compared to other laterals but not sure.

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Yugihoe

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Re: Lateral bonus negotiation

Postby Yugihoe » Fri Apr 05, 2019 12:51 pm

Just tagging as I'm interested in hearing responses.

M458

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Re: Lateral bonus negotiation

Postby M458 » Fri Apr 05, 2019 12:56 pm

Not an unreasonable ask at all. Recruiter fees are higher than a year-end bonus for a 3rd year associate, and in this instance the firm is getting a known commodity, given the partner has worked with you and specifically wants you to come over.

Talk with your partner - he/she should be able to look out for you (and maybe even get you a signing bonus in addition to the guaranteed market year-end bonus).

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rowingmyboat

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Re: Lateral bonus negotiation

Postby rowingmyboat » Fri Apr 05, 2019 1:32 pm

Yeah, this doesn't seem unreasonable to me at all. I've known a few folks that have successfully negotiated with a partner trying to bring them over, including someone getting their bonus paid out as a signing bonus. You've got more leverage than a normal lateral so they should be willing and able to work with you, and I imagine the partner will want to look out for you. If they really need you (say, its a niche practice area and the partner doesn't have other junior/midlevels trained), I've heard of some very good signing bonuses.

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Re: Lateral bonus negotiation

Postby Anonymous User » Fri Apr 12, 2019 1:08 pm

Thoughts on a signing bonus? Negotiate?

minnbills

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Re: Lateral bonus negotiation

Postby minnbills » Fri Apr 12, 2019 3:50 pm

Anonymous User wrote:Thoughts on a signing bonus? Negotiate?


You have no reason not to ask. Because you are coming from a firm that pays your bonus regardless, you should at a minimum get that guaranteed from your new firm to make this move. I would definitely ask for a singing bonus in addition.

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Re: Lateral bonus negotiation

Postby Anonymous User » Fri Apr 12, 2019 4:00 pm

Totally typical to request it as a signing bonus or a guaranteed annual bonus regardless of hours. I've been in the same situation and know others who have too.

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Re: Lateral bonus negotiation

Postby Anonymous User » Fri Apr 12, 2019 4:52 pm

Op here. Any idea of what’s a reasonable ask for a signing bonus?

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Re: Lateral bonus negotiation

Postby Anonymous User » Tue Apr 16, 2019 11:17 am

Op here. Bump for thoughts and to complain how long this is taking. I cleared conflicts a couple weeks ago, been having discussions for a while and still no offer letter. I want to give notice :lol:

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Re: Lateral bonus negotiation

Postby Anonymous User » Mon Jun 24, 2019 10:58 am

Bumping, as I'm curious what OP ended up with bonus-wise, if anything.

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Re: Lateral bonus negotiation

Postby Anonymous User » Mon Jun 24, 2019 11:23 am

OP here - full annual bonus with no hours requirement and a small signing bonus.



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