Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc) Forum
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Anonymous posting is only appropriate when you are sharing sensitive information about clerkship applications and clerkship hiring. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Re Posting from another thread on chance this is more appropriate place:
"Does anyone have any info whether Williams & Connolly will move its base salaries up now that its compensation falls well below the other firms' "base + bonus"? They may still be competitive for 1st and second years, but mid levels seem to be lagging now. If someone is going to sign on, it would bne nice to know what the total package will be.
Or whether clerkship signing bonuses at W&C will rise for the same reason? For example Kellogg is over 150 now for top COA clerks and WC is still below 100. (Thuis was raised above by amother poster, but there doesn't seem to be a response)
Bueller? Anyone?
"Does anyone have any info whether Williams & Connolly will move its base salaries up now that its compensation falls well below the other firms' "base + bonus"? They may still be competitive for 1st and second years, but mid levels seem to be lagging now. If someone is going to sign on, it would bne nice to know what the total package will be.
Or whether clerkship signing bonuses at W&C will rise for the same reason? For example Kellogg is over 150 now for top COA clerks and WC is still below 100. (Thuis was raised above by amother poster, but there doesn't seem to be a response)
Bueller? Anyone?
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Anyone know if Latham pays a second year (75k) bonus?
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Does this include those coming off gap-year clerkships? I.e. are those that clerk one year out of law school still able to get the bonus?
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
BumpAnonymous User wrote:I heard from a Biglaw associate that he/she knew people who had clerked for one year-->practiced for one year-->clerked for an additional year, and then negotiated with a new firm (not the firm they practiced at previously) to receive the full 2 year clerkship bonus, despite the fact that they had already received the 1 year bonus from the firm they worked at immediately after their first clerkship. Has anyone else heard of this happening?
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- quiver
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Yes. I know at least two people that did this.Anonymous User wrote:BumpAnonymous User wrote:I heard from a Biglaw associate that he/she knew people who had clerked for one year-->practiced for one year-->clerked for an additional year, and then negotiated with a new firm (not the firm they practiced at previously) to receive the full 2 year clerkship bonus, despite the fact that they had already received the 1 year bonus from the firm they worked at immediately after their first clerkship. Has anyone else heard of this happening?
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
To clarify, they got 50K from their first firm, and then 70K from their second firm for both clerkships? Wow. Is this common?quiver wrote:Yes. I know at least two people that did this.Anonymous User wrote:BumpAnonymous User wrote:I heard from a Biglaw associate that he/she knew people who had clerked for one year-->practiced for one year-->clerked for an additional year, and then negotiated with a new firm (not the firm they practiced at previously) to receive the full 2 year clerkship bonus, despite the fact that they had already received the 1 year bonus from the firm they worked at immediately after their first clerkship. Has anyone else heard of this happening?
- rpupkin
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Not necessarily common, but stuff like clerkship bonuses and class-year credit is generally negotiable.Anonymous User wrote:To clarify, they got 50K from their first firm, and then 70K from their second firm for both clerkships? Wow. Is this common?quiver wrote:Yes. I know at least two people that did this.Anonymous User wrote:BumpAnonymous User wrote:I heard from a Biglaw associate that he/she knew people who had clerked for one year-->practiced for one year-->clerked for an additional year, and then negotiated with a new firm (not the firm they practiced at previously) to receive the full 2 year clerkship bonus, despite the fact that they had already received the 1 year bonus from the firm they worked at immediately after their first clerkship. Has anyone else heard of this happening?
- quiver
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Yeah, this.rpupkin wrote:Not necessarily common, but stuff like clerkship bonuses and class-year credit is generally negotiable.Anonymous User wrote:To clarify, they got 50K from their first firm, and then 70K from their second firm for both clerkships? Wow. Is this common?quiver wrote:Yes. I know at least two people that did this.Anonymous User wrote:BumpAnonymous User wrote:I heard from a Biglaw associate that he/she knew people who had clerked for one year-->practiced for one year-->clerked for an additional year, and then negotiated with a new firm (not the firm they practiced at previously) to receive the full 2 year clerkship bonus, despite the fact that they had already received the 1 year bonus from the firm they worked at immediately after their first clerkship. Has anyone else heard of this happening?
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Reviving this thread to ask if anyone knows about Hogan's clerkship comp specifics. Thanks in advance!
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
I just want to verify with litigation associate at NY Kirkland: are we really all starting as the first year with standard bonus? or just restructuring practice.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
They're starting restructuring clerks as first years? Wow.Anonymous User wrote:I just want to verify with litigation associate at NY Kirkland: are we really all starting as the first year with standard bonus? or just restructuring practice.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
I'd imagine this person is getting started at his or her class year: 2017, i.e., $180,000. The bump to $190,000 will happen in January.Anonymous User wrote:They're starting restructuring clerks as first years? Wow.Anonymous User wrote:I just want to verify with litigation associate at NY Kirkland: are we really all starting as the first year with standard bonus? or just restructuring practice.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
If my offer letter stated that I was coming in as a "second year associate (member of our class of 2016)" do you think that means I would advance to third year in January?
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Yes. I'm in the same boat and that's what my firm explained to me.Anonymous User wrote:If my offer letter stated that I was coming in as a "second year associate (member of our class of 2016)" do you think that means I would advance to third year in January?
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Awesome. Thanks.Anonymous User wrote:Yes. I'm in the same boat and that's what my firm explained to me.Anonymous User wrote:If my offer letter stated that I was coming in as a "second year associate (member of our class of 2016)" do you think that means I would advance to third year in January?
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
why is that "wow" effect comment to kirkland starting their law clerks in restructuring practice as first-year.... just curious.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
and to be sure kirkland restructuring put their clerks (law school class of 2017) to associate class of 2018.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Probably because most top firms credit clerks for the clerkship year(s) and provide generous bonuses. So a clerk who did two fed (or fed + ssc) clerkships would enter as a third-year, plus clerkship bonus for two clerkships. Not all firms do this of course, but it's surprising that Kirkland isn't.Anonymous User wrote:why is that "wow" effect comment to kirkland starting their law clerks in restructuring practice as first-year.... just curious.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
I'm confused about this. Kirkland is/was hiring law clerks for their restructuring group?! Must be just the bankruptcy clerks, right?Anonymous User wrote:and to be sure kirkland restructuring put their clerks (law school class of 2017) to associate class of 2018.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Can confirm that Kirkland NY & Chicago are sending in BK Clerks as first years (Class of 2018). My understanding is that this has to do with the training the group provides. Anecdotally, I have heard that Kirkland's Restructuring group will actually drop traditional laterals in class year as well. Something about the nature of debtor-work and starting from the ground up. Hard to argue with the logic when Kirkland has arguably the top bankruptcy group in the world.
And to be fair, with Kirkland's 6-year nonequity track I'm not sure that I would want to be competing with people who have an additional year of law firm experience anyway. It is frustrating financially, however. All of the other bk clerks I know going to other firms received class credit.
And to be fair, with Kirkland's 6-year nonequity track I'm not sure that I would want to be competing with people who have an additional year of law firm experience anyway. It is frustrating financially, however. All of the other bk clerks I know going to other firms received class credit.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
thanks the above anon.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Meh, as a bankruptcy clerk who landed a gig with another big NY firm. I'm happy I'm not going to kirkland. The Bk associates I know at kirkland are billing 3000 hours/yr right now. I am much happier going to a smaller shop, working less hours, and making more money.
Kirkland's argument that this is about training is pure BS. They hire 10+ people a year, if they can screw each of those 10 people out of the 40/50k in compensation they would otherwise be entitled to, that's more money for the partners. Also, the whole point of their nonequity track (from which virtually no one moves up from) is that you get a couple of years to market yourself as a partner for lateral purposes. So the argument that getting an extra year for a partnership push is not compelling.
Pass.
Kirkland's argument that this is about training is pure BS. They hire 10+ people a year, if they can screw each of those 10 people out of the 40/50k in compensation they would otherwise be entitled to, that's more money for the partners. Also, the whole point of their nonequity track (from which virtually no one moves up from) is that you get a couple of years to market yourself as a partner for lateral purposes. So the argument that getting an extra year for a partnership push is not compelling.
Pass.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
To clarify, the clerkship bonus was still offered, just not class credit.
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Re: Post-Clerkship Comp Thread (2nd Yr Bonus, Class Credit, etc)
Right but the total difference in comp is significantly different between first and second years when you take into account the higher clerkship bonus, higher base salary, and higher end of year bonus all of which comes with getting a bump in class year.Anonymous User wrote:To clarify, the clerkship bonus was still offered, just not class credit.
For example, I am joining my firm as a 2nd year associate with a bonus of 50k (I decided not to push for 70, which is technically market). This means that in January I will advance to third year, for which my salary will be 210 and my eoy bonus will be 50k.
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