2015 Biglaw Boneus Thread Forum

[Big Shrimpin]

TU

re not getting jumped, I don't understand the logic

Unless you wait forever, whenever you announce, jumpers gonna jump

If anything we have to be looking at a flat year

[trbrny]

Can someone data mine when bonuses were announced historically?

TYIA

Already did this like a week ago in anticipation (all announcements by CSM unless otherwise noted):

2014: 11/21 (preempted by STB; edit: I think CSM matched STB on 11/24 before getting falcon punched by DPW)
2013: 12/2
2012: 11/26
2011: 11/28
2010: 11/22
2009: 11/2
2008: 11/20 (preempted by Skadden on 11/19)
2007: 10/29

The only other year with a December announcement in the last 9 was 2013. Pre-ITE, seems like CSM announced in advance of Thanksgiving. ITE, announcements have been the Monday following Thanksgiving (except last year and this year).

Does anyone else see what I see? Announcement on 12/2 = 2013 bonuses.

[dixiecupdrinking]

Firms should just cut the crap and openly collude on compensation.

[anonnymouse]

Firms should just cut the crap and openly collude on compensation.

CSM to 1 cheese plate.

[Big Shrimpin]

So doesn't this make it the latest that there has ever been a first announcement?

[KirkwoodGAO]

So doesn't this make it the latest that there has ever been a first announcement?

No. In 2006, Milbank announced first on December 8th (and the numbers were good).

http://abovethelaw.com/2006/12/associat ... ouncement/

[BigZuck]

So doesn't this make it the latest that there has ever been a first announcement?

No. In 2006, Milbank announced first on December 8th.

http://abovethelaw.com/2006/12/associat ... ouncement/

Awesome, looks like bonuses for first years will be 30K

WE DID IT

[charliekelly33]

So doesn't this make it the latest that there has ever been a first announcement?

No. In 2006, Milbank announced first on December 8th.

http://abovethelaw.com/2006/12/associat ... ouncement/

Awesome, looks like bonuses for first years will be 30K

WE DID IT

NY to 190

[WestOfTheRest]

Don't fall for this bs folks. It's just firms playing the game, trying to temper expectations.

[Anonymous User]

I'm moving to Texas if comp stays flat. Pretty sure they won't be able to replace me.

[seespotrun]

Partnership Worldwide LLP is looking to close November before deciding exactly how much they will keep for themselves.

[FSK]

Heard a rumor from a partner that bonuses this year will SHATER YOUR HOPES AND DREAMS, if you still had any.

[mvp99]

Heard a rumor from a partner that bonuses this year will SHATER YOUR HOPES AND DREAMS, if you still had any.

modzzzz

[Monochromatic Oeuvre]

I'm moving to Texas if comp stays flat. Pretty sure they won't be able to replace me.

An army of Fordham 164s are lying in wait for pissy associates to declare that this, as opposed to any part of the previous seven years, is the last straw.

[bearsfan23]

I'm moving to Texas if comp stays flat. Pretty sure they won't be able to replace me.

An army of Fordham 164s are lying in wait for pissy associates to declare that this, as opposed to any part of the previous seven years, is the last straw.

drop out already

[Effingham]

I'm moving to Texas if comp stays flat. Pretty sure they won't be able to replace me.

An army of Fordham 164s are lying in wait for pissy associates to declare that this, as opposed to any part of the previous seven years, is the last straw.

you're unoriginal

[Anonymous User]

So doesn't this make it the latest that there has ever been a first announcement?

No. In 2006, Milbank announced first on December 8th (and the numbers were good).

http://abovethelaw.com/2006/12/associat ... ouncement/

To be honest, that bonus scale sucks. Were bonuses really that flat generally back in 2006 across all firms? If so, firms may actually be paying out a similar aggregate amount in bonuses now--bonuses just accrue more to higher class years and less to first-years.

Comparing Milbank 2006 to DPW 2014:

30 - 15 (M+15)
35 - 25 (M+10)
40 - 50 (D+10)
45 - 65 (D+15)
50 - 80 (D+30)
55 - 90 (D+35)
60 - 100 (D+40)

[Lacepiece23]

So doesn't this make it the latest that there has ever been a first announcement?

No. In 2006, Milbank announced first on December 8th (and the numbers were good).

http://abovethelaw.com/2006/12/associat ... ouncement/

To be honest, that bonus scale sucks. Were bonuses really that flat generally back in 2006 across all firms? If so, firms may actually be paying out a similar aggregate amount in bonuses now--bonuses just accrue more to higher class years and less to first-years.

Comparing Milbank 2006 to DPW 2014:

30 - 15 (M+15)
35 - 25 (M+10)
40 - 50 (D+10)
45 - 65 (D+15)
50 - 80 (D+30)
55 - 90 (D+35)
60 - 100 (D+40)

Idk maybe first years were more valuable then? And mid-levels weren't as valuable. Just wild speculation and I'm sure that I'm wrong, but during the days where clients would pay for anything wouldn't a bunch of juniors billing 2500+ on doc review and every firm in NYC being able to collect on that be pretty valuable. From my understanding on the more elite firms can collect first year salaries so maybe a firm like Milbank no longer has an incentive to try and woo them away from the bigger players. And law students will go to higher ranks firm with all things being equal.

[KirkwoodGAO]

So doesn't this make it the latest that there has ever been a first announcement?

No. In 2006, Milbank announced first on December 8th (and the numbers were good).

http://abovethelaw.com/2006/12/associat ... ouncement/

To be honest, that bonus scale sucks. Were bonuses really that flat generally back in 2006 across all firms? If so, firms may actually be paying out a similar aggregate amount in bonuses now--bonuses just accrue more to higher class years and less to first-years.

Comparing Milbank 2006 to DPW 2014:

30 - 15 (M+15)
35 - 25 (M+10)
40 - 50 (D+10)
45 - 65 (D+15)
50 - 80 (D+30)
55 - 90 (D+35)
60 - 100 (D+40)

Keep in mind that there's been about 18% inflation since 2006, plus salaries had just gotten bumped from 125 to 145 a year earlier. And, salaries bumped again one month later in January 2007 to 160.

[Monochromatic Oeuvre]

So doesn't this make it the latest that there has ever been a first announcement?

No. In 2006, Milbank announced first on December 8th (and the numbers were good).

http://abovethelaw.com/2006/12/associat ... ouncement/

To be honest, that bonus scale sucks. Were bonuses really that flat generally back in 2006 across all firms? If so, firms may actually be paying out a similar aggregate amount in bonuses now--bonuses just accrue more to higher class years and less to first-years.

Comparing Milbank 2006 to DPW 2014:

30 - 15 (M+15)
35 - 25 (M+10)
40 - 50 (D+10)
45 - 65 (D+15)
50 - 80 (D+30)
55 - 90 (D+35)
60 - 100 (D+40)

I'm obviously biased as fuck but I prefer the 2006 scale. It's a bigger deal to pay more than was probably necessary for first-years, who (a) are stuck with the debt, and (b) realistically couldn't go anywhere else anyway--midlevels are usually in a better financial position. Then again, the 2014 scale much better approximates market value and probably comes a lot closer to matching actual usefulness as well.

Although given that there are probably twice as many first-years as fifth years at most firms, the total payout is probably relatively close.

[SemperLegal]

I don't get why people who aren't legit midlevels or higher care that much about bonuses, tbh. For juniors, all bonuses are pretty much crap money compared to your law school tuition/rents/etc. Sad to say but you've already dug yourself into a financial hole - why care now?

10k is still 10k. That's a huge dent in student loans (especially since a 10k payment now= 11k over five years) and a huge bump in QOL (huge vacation, massive Christmas gifts). Heck, it's what most Americans spend in two months.


It's easy to consider this all monopoly money with student loans this high, but absolute value still matters.

A $10k bonus is only about $6k of cash you can put towards your student loans today.

I was the accidental anon last year's 15k, less taxes is 10k.

[Traynor Brah]

My choice for my V10 SA location is going to depend on 2016 bonus/ salary announcement. Without an increase, Philly is looking more and more tempting

[El Pollito]

bone us bone us bone us

[052220152]

So doesn't this make it the latest that there has ever been a first announcement?

No. In 2006, Milbank announced first on December 8th.

http://abovethelaw.com/2006/12/associat ... ouncement/

Awesome, looks like bonuses for first years will be 30K

WE DID IT

NY to 190

190 + 30 = 220. This is even better than our wildest dreams. Good job TLS

[krads153]

So doesn't this make it the latest that there has ever been a first announcement?

No. In 2006, Milbank announced first on December 8th (and the numbers were good).

http://abovethelaw.com/2006/12/associat ... ouncement/

To be honest, that bonus scale sucks. Were bonuses really that flat generally back in 2006 across all firms? If so, firms may actually be paying out a similar aggregate amount in bonuses now--bonuses just accrue more to higher class years and less to first-years.

Comparing Milbank 2006 to DPW 2014:

30 - 15 (M+15)
35 - 25 (M+10)
40 - 50 (D+10)
45 - 65 (D+15)
50 - 80 (D+30)
55 - 90 (D+35)
60 - 100 (D+40)

Keep in mind that there's been about 18% inflation since 2006, plus salaries had just gotten bumped from 125 to 145 a year earlier. And, salaries bumped again one month later in January 2007 to 160.

Just look at the first post in this thread - we're basically making 50k+ less now.

I really don't get why people still go to law school if they have to take out debt. It's not a rational choice these days.