Biglaw Bonus Watch (2013) Forum

[El Pollito]

bone us

[Anonymous User]

Just out of curiosity what were bonuses like in the good ole days aka pre 08?

[thesealocust]

1st year associate bonus was ~35K.

The best part was reading in-depth TLS analysis of how quickly you could pay down student loans, at 2009 tuition levels, assuming 195K first year comp and steady increases thereafter... assuming NY didn't get to 190K before you started working in BigLaw, that was.

[seespotrun]

1st year associate bonus was ~35K.

The best part was reading in-depth TLS analysis of how quickly you could pay down student loans, at 2009 tuition levels, assuming 195K first year comp and steady increases thereafter... assuming NY didn't get to 190K before you started working in BigLaw, that was.

Reading this made me really sad.

[thesealocust]

Ah to be young again.

Given how bad things did get, it's honestly a little surprising 1st year salaries didn't drop, and there are still as many 1st year big firm jobs as there are.

[09042014]

Ah to be young again.

Given how bad things did get, it's honestly a little surprising 1st year salaries didn't drop, and there are still as many 1st year big firm jobs as there are.

Things didn't get that bad from a revenue prospective. But the growth is just gone.

I'm hoaping and praying patent trolling reform doesn't happen.

[thesealocust]

yeah but that's the point - stocks fell 50%, half of wall street exploded, unemployment skyrocketed... and law firm growth stopped.

[84651846190]

1st year associate bonus was ~35K.

Thanks, Obama.

[run26.2]

I hear stories from attorneys that graduated in the early- to mid-2000s, that they sometimes got mid-year bonuses in the 25k-60k range, as well as their end of the year bonus.

[Big Shrimpin]

Any whispers yet?

[Anonymous User]

Not from my V10, but I really doubt anybody is going to hear a rumor before a bonus memo drops from a top firm, and I really doubt it'll take more than a few minutes from then until the story hits ATL...

[JazzOne]

yeah but that's the point - stocks fell 50%, half of wall street exploded, unemployment skyrocketed... and law firm growth stopped.

Many firms are covertly hiring non-partner track entry positions. That's essentially a decrease in pay for first-years.

[Big Shrimpin]

Not from my V10, but I really doubt anybody is going to hear a rumor before a bonus memo drops from a top firm, and I really doubt it'll take more than a few minutes from then until the story hits ATL...

Eh, true.

[84651846190]

I hear stories from attorneys that graduated in the early- to mid-2000s, that they sometimes got mid-year bonuses in the 25k-60k range, as well as their end of the year bonus.

Shut up.

[Old Gregg]

Not from my V10, but I really doubt anybody is going to hear a rumor before a bonus memo drops from a top firm, and I really doubt it'll take more than a few minutes from then until the story hits ATL...

Eh, true.

Not necessarily. I've heard rumors. ATL has a weird way of deciding to pick up stories.

[Big Shrimpin]

Not from my V10, but I really doubt anybody is going to hear a rumor before a bonus memo drops from a top firm, and I really doubt it'll take more than a few minutes from then until the story hits ATL...

Eh, true.

Not necessarily. I've heard rumors. ATL has a weird way of deciding to pick up stories.

Rumors? Please, do tell. I'd imagine the first announcements will go out on Monday.

[Old Gregg]

Not from my V10, but I really doubt anybody is going to hear a rumor before a bonus memo drops from a top firm, and I really doubt it'll take more than a few minutes from then until the story hits ATL...

Eh, true.

Not necessarily. I've heard rumors. ATL has a weird way of deciding to pick up stories.

Rumors? Please, do tell. I'd imagine the first announcements will go out on Monday.

I've already shared what I know anonymously.

[Old Gregg]

Also, poll results look like a giant middle finger. Probably what bonuses will be like too.

[run26.2]

I hear stories from attorneys that graduated in the early- to mid-2000s, that they sometimes got mid-year bonuses in the 25k-60k range, as well as their end of the year bonus.

Shut up.

This was a response to the anonymous user's question about pre-08 bonuses.

[El Pollito]

Also, poll results look like a giant middle finger. Probably what bonuses will be like too.

bone us

[Anonymous User]

I have it on good authority that we will be seeing the same scale as last year from at least one of the market-setters.

(Posting anon but I'm a regular around here, not some xo troll, etc.)

[thesealocust]

I have it on good authority that we will be seeing the same scale as last year from at least one of the market-setters.

(Posting anon but I'm a regular around here, not some xo troll, etc.)

I consider this good news and something to be thankful for ITE. Thanks for the tip!

[Anonymous User]

I have it on good authority that we will be seeing the same scale as last year from at least one of the market-setters.

(Posting anon but I'm a regular around here, not some xo troll, etc.)

I consider this good news and something to be thankful for ITE. Thanks for the tip!

No problem. The tip hasn't been vetted with a confirming second source, but I know the person and don't believe them to have a motive to lie about it.

[KaNa1986]

I have it on good authority that we will be seeing the same scale as last year from at least one of the market-setters.

(Posting anon but I'm a regular around here, not some xo troll, etc.)

Which firms are market-setters? Aren't Cravath and S&C the only two firms that set the market in recent years?

[Anonymous User]

The speculation around Cravath is that the bonus memo will drop around 4 pm Monday and the scale will be the same as last year or marginally higher.