2020 End of Year Bonuses Forum

[Anonymous User]

Skadden matches Cravath (with possibility of extra $10k for c/o 2014 and above)

How do you get the extra 10k?

They don't say. Probably an hours threshold. It's not on the fall bonus -- it's on the main bonus, which is typical ("partner track" senior associates get the extra $10k as an indication they're on the track, basically, while everyone else gets the market amount. Been like this for a little while I think but no one ever makes hay of it, really)

[Anonymous User]

Whatever happened with Cooley? Will they up their scale to match the DPW scale eventually? Not a Cooley lawyer, just curious I feel like they flew under the radar for awhile having not upped to the larger DPW covid scale.

A lot of people are going to be royally pissed if Cooley doesn't do the right thing and fix its previous decision.

[Anonymous User]

For new first years, how do firms typically pro-rate? If a firm is doing staggered start dates, would an associate who started in October get more than someone starting in December? Or do they typically pay one pro-rated amount to all new associates?

[Anonymous User]

Debevoise just matched. Standard 15k (2020) 15k (2019) etc.

As a side note... did anyone notice that 2020 associates are getting less on the DPW scale? that is, on the Cravath scale, 2020 associates get a pro-rated pandemic bonus. Firms that paid out pandemic bonuses in the fall have not prorated any such bonuses. Interesting.

[DoveBodyWash]

Debevoise just matched. Standard 15k (2020) 15k (2019) etc.

As a side note... did anyone notice that 2020 associates are getting less on the DPW scale? that is, on the Cravath scale, 2020 associates get a pro-rated pandemic bonus. Firms that paid out pandemic bonuses in the fall have not prorated any such bonuses. Interesting.

I don’t think 2020’s had started when the earlier firms paid the fall bonus

[Anonymous User]

Debevoise just matched. Standard 15k (2020) 15k (2019) etc.

As a side note... did anyone notice that 2020 associates are getting less on the DPW scale? that is, on the Cravath scale, 2020 associates get a pro-rated pandemic bonus. Firms that paid out pandemic bonuses in the fall have not prorated any such bonuses. Interesting.

I don’t think 2020’s had started when the earlier firms paid the fall bonus

I think some firms had started associates in September/October/November but i guess the point here is that if you had started at Cravath in October you would be getting a year end + fall prorated. If you started at DPW/Milbank etc right after the fall bonuses were issued, you would only be getting a year end and would be missing out on the prorated portion of the fall bonus.

[Anonymous User]

Ropes matched w special bonus for 1300 hours and 1900 hours for normal bonus, with an optional special calculation to annualize hours without April to July (theyd consider higher amount). Pro rated bonus down if under target, and larger than normal bump up for 2100.

Not the best but not unexpected here. And better than what some peers will do. Associate reactions mixed, mostly because so many people wont hit target so the special bonus basically just serves to true up the pro rated annual bonus to a full annual. So effectively they aren’t paying a special bonus for most associates in what they also claim was a very profitable year.

[Anonymous User]

Proskauer just announced:

We are pleased to announce our year-end and special bonus scales for 2020:
Year-End Bonus
Special Bonus
Class of 2020
$15,000 (pro-rated)
$7,500 (pro-rated)
Class of 2019
$15,000
$7,500
Class of 2018
$25,000
$10,000
Class of 2017
$50,000
$20,000
Class of 2016
$65,000
$27,500
Class of 2015
$80,000
$32,500
Class of 2014
$90,000
$37,000
Class of 2013
$100,000
$40,000
Class of 2012
$100,000
$40,000

Bonuses will be paid on December 22, 2020, to associates employed and in good standing on that date who have met the Firm’s traditional performance criteria for associates of their seniority. Year-end bonuses for associates beyond the class of 2012 will be determined on an individual basis. Associates on reduced schedules or approved leaves or who joined after January 1, 2020, will be eligible for pro-rated bonuses.
Special bonuses also will be paid on December 22, 2020, at the levels indicated above, in recognition of associates who have made exceptional efforts on behalf of our clients and communities during these challenging times.

Thank you for your contributions and for your ongoing support of our Diversity & Inclusion, Pro Bono, Corporate Social Responsibility and related initiatives.

We wish you and your families a very happy, safe and healthy holiday season.

[Anonymous User]

Special bonuses also will be paid on December 22, 2020, at the levels indicated above, in recognition of associates who have made exceptional efforts on behalf of our clients and communities during these challenging times.

What does “in recognition of associates who have made exceptional efforts” mean? Are all associates getting the special bonus or only “exceptional” associates?

[lawdude31]

Proskauer just announced:

We are pleased to announce our year-end and special bonus scales for 2020:
Year-End Bonus
Special Bonus
Class of 2020
$15,000 (pro-rated)
$7,500 (pro-rated)
Class of 2019
$15,000
$7,500
Class of 2018
$25,000
$10,000
Class of 2017
$50,000
$20,000
Class of 2016
$65,000
$27,500
Class of 2015
$80,000
$32,500
Class of 2014
$90,000
$37,000
Class of 2013
$100,000
$40,000
Class of 2012
$100,000
$40,000

Bonuses will be paid on December 22, 2020, to associates employed and in good standing on that date who have met the Firm’s traditional performance criteria for associates of their seniority. Year-end bonuses for associates beyond the class of 2012 will be determined on an individual basis. Associates on reduced schedules or approved leaves or who joined after January 1, 2020, will be eligible for pro-rated bonuses.
Special bonuses also will be paid on December 22, 2020, at the levels indicated above, in recognition of associates who have made exceptional efforts on behalf of our clients and communities during these challenging times.

Thank you for your contributions and for your ongoing support of our Diversity & Inclusion, Pro Bono, Corporate Social Responsibility and related initiatives.

We wish you and your families a very happy, safe and healthy holiday season.

I thought Proskauer had deferred the Class of 2020 to January. Are they getting bonuses anyway?

[12YrsAnAssociate]

If you're a busy midlevel at Baker McKenzie, how could you NOT be livid? Your firm actively tried to front run the DPW bonus to make sure you make less than your law school colleagues that were lucky enough to land at market firms.

Do we have any Baker McKenzie folks here that can speak to this? Or are they all too busy updating their resumes?

[Anonymous User]

Weil associates who were slow through August but slammed since then (which is common) will also be updating their resumes.

[nahumya]

Link to ATL's bonuses table: https://abovethelaw.com/2020/11/biglaw- ... hart-2020/

[Anonymous User]

Link to ATL's bonuses table: https://abovethelaw.com/2020/11/biglaw- ... hart-2020/

isn't goodwin missing?

[12YrsAnAssociate]

Good to see Proskauer and Fried Frank's bonuses. Makes it pretty clear what bonus is "market," and what bonus is reserved for second rate firms.

[Anonymous User]

On the bonuses topic, do any KE associates have any data points for whether someone did or did not receive their bonus after putting in two weeks notice the week before expected payout?

I'm considering putting in two weeks notice a week earlier than the expected bonus date partially for personal reasons but also partially because I think it will put a deal team I am a part of in a much better position to replace me given our deal timing. I am worried about losing my bonus but also don't want to screw over my deal team. I was curious if anyone at Kirkland had seen someone lose or keep their bonus after doing this. I cannot imagine a punitive firing here given otherwise good standing, but figured I would check. NY associate to the extent it matters.

Thanks!

[RaceJudicata]

On the bonuses topic, do any KE associates have any data points for whether someone did or did not receive their bonus after putting in two weeks notice the week before expected payout?

I'm considering putting in two weeks notice a week earlier than the expected bonus date partially for personal reasons but also partially because I think it will put a deal team I am a part of in a much better position to replace me given our deal timing. I am worried about losing my bonus but also don't want to screw over my deal team. I was curious if anyone at Kirkland had seen someone lose or keep their bonus after doing this. I cannot imagine a punitive firing here given otherwise good standing, but figured I would check. NY associate to the extent it matters.

Thanks!

Not at Kirkland but this seems like an insane risk (regardless of any anecdotal evidence that gets posted). Don’t put in your two weeks until the bonus hits your account. Your deal team will be just fine, even if you jump Mid deal

[Anonymous User]

On the bonuses topic, do any KE associates have any data points for whether someone did or did not receive their bonus after putting in two weeks notice the week before expected payout?

I'm considering putting in two weeks notice a week earlier than the expected bonus date partially for personal reasons but also partially because I think it will put a deal team I am a part of in a much better position to replace me given our deal timing. I am worried about losing my bonus but also don't want to screw over my deal team. I was curious if anyone at Kirkland had seen someone lose or keep their bonus after doing this. I cannot imagine a punitive firing here given otherwise good standing, but figured I would check. NY associate to the extent it matters.

Thanks!

Not at Kirkland but this seems like an insane risk (regardless of any anecdotal evidence that gets posted). Don’t put in your two weeks until the bonus hits your account. Your deal team will be just fine, even if you jump Mid deal

(as a prior KE associate --)
Don't give notice early. And there's no such thing as "two weeks notice." Wait until bonuses get paid, then have a conversation with your team about your departure , and what appropriate timing will be such that no bridges get burned (which I assume is your goal). People leave after bonuses come out all the time.

[nahumya]

On the bonuses topic, do any KE associates have any data points for whether someone did or did not receive their bonus after putting in two weeks notice the week before expected payout?

I'm considering putting in two weeks notice a week earlier than the expected bonus date partially for personal reasons but also partially because I think it will put a deal team I am a part of in a much better position to replace me given our deal timing. I am worried about losing my bonus but also don't want to screw over my deal team. I was curious if anyone at Kirkland had seen someone lose or keep their bonus after doing this. I cannot imagine a punitive firing here given otherwise good standing, but figured I would check. NY associate to the extent it matters.

Thanks!

Not at Kirkland but this seems like an insane risk (regardless of any anecdotal evidence that gets posted). Don’t put in your two weeks until the bonus hits your account. Your deal team will be just fine, even if you jump Mid deal

Seconded. Your deal team will get over your absence within a couple of days. People (including partners) drop off projects all the time. Risking your bonus over this does not make sense.

Maybe the people who work with you all love you, but you could still hear from your partners, "I'm trying to make it happen, but associates with a set departure date are not eligible for bonuses per firm policy," and then you'll have to fight this policy or some random senior partner and have zero leverage on your way out of the firm. Just suck it up and stay at the firm for another week if you really want to make sure your team is taken care of. Don't be naive about tens of thousands of dollars. They don't owe you anything.

[Definitely Not North]

On the bonuses topic, do any KE associates have any data points for whether someone did or did not receive their bonus after putting in two weeks notice the week before expected payout?

I'm considering putting in two weeks notice a week earlier than the expected bonus date partially for personal reasons but also partially because I think it will put a deal team I am a part of in a much better position to replace me given our deal timing. I am worried about losing my bonus but also don't want to screw over my deal team. I was curious if anyone at Kirkland had seen someone lose or keep their bonus after doing this. I cannot imagine a punitive firing here given otherwise good standing, but figured I would check. NY associate to the extent it matters.

Thanks!

This is a terrible idea. Do NOT put in notice before the deposit hits your account. Why would you do anything to risk an earned 5 figure payday.

[Anonymous User]

On the bonuses topic, do any KE associates have any data points for whether someone did or did not receive their bonus after putting in two weeks notice the week before expected payout?

I'm considering putting in two weeks notice a week earlier than the expected bonus date partially for personal reasons but also partially because I think it will put a deal team I am a part of in a much better position to replace me given our deal timing. I am worried about losing my bonus but also don't want to screw over my deal team. I was curious if anyone at Kirkland had seen someone lose or keep their bonus after doing this. I cannot imagine a punitive firing here given otherwise good standing, but figured I would check. NY associate to the extent it matters.

Thanks!

I'm a K&E associate in a very similar boat. A partner who helped me get the job and with whom I have a pretty close relationship knows that my departure is imminent but doesn't know the exact date. On the phone last week, the partner told me "you should stay until bonuses." It sounds like they have already had the meeting where they set the bonus grid and are just waiting to tell us. I asked what would happen if I gave notice earlier but my departure was after the new year and the partner didn't directly answer the question but I came away with the clear impression that I should not give any sort of notice -- even an informal "hey you might be getting some career news from me right after bonuses" -- before the money hits my account.

This is a terrible idea. Do NOT put in notice before the deposit hits your account. Why would you do anything to risk an earned 5 figure payday.

For a senior associate at K&E with a good rating it's well into the six figures and probably approaching the amount we made as first years. Definitely not an amount to take any chances with.

[Anonymous User]

Weil associates who were slow through August but slammed since then (which is common) will also be updating their resumes.

Describes me perfectly. Missed the August cutoff and am on track for well over 1800 by the end of the year just to get a middle finger from the firm.

[Anonymous User]

Paul Hastings just announced. Normal market bonus + market special bonus for those who annualized 2k from Feb. 1 to Aug. 31.

[broadstreet11]

Paul Hastings just announced. Normal market bonus + market special bonus for those who annualized 2k from Feb. 1 to Aug. 31.

The special bonus requirement is pretty ridiculous.

[jaekeem]

Paul Hastings just announced. Normal market bonus + market special bonus for those who annualized 2k from Feb. 1 to Aug. 31.

LOL