K&E Bonus Multiplier Data Points Forum

[Anonymous User]

What's the distinction between "merit bonus" and "hours bonus" in the comp memo? I don't understand how each is calculated (for example, is there a max per class year for the "merit bonus"?) and the interplay. Also does anyone know if laterals/clerks who start X months after the bonus year begins have their hours annualized across the 12 month bonus year? Seems like a total waste to have worked hard over 12-X months if the hours aren't annualized.

Also curious about this. Anyone know?

Tangentially related but I was a clerk that started in September and got the COVID bonus but not an hours bonus, which makes sense given no stub year bonuses at K&E/started after end of bonus year. Curious whether the straight from law school class of 2020 1st years also got the COVID bonus?

I’m a stub, didn’t get anything. Understandable but already billing 200+ a month and didn’t get a break after the bar, so also kinda miffed we didn’t get at least a token.

Didn’t think first years were supposed to get a bonus until they invited us to the town hall, mentioned that 99% of associates would get a bonus and then sent us individualized compensation memos. Was not particularly happy to open the memo and see only our name and currently salary listed with no mention of a bonus. Savage move.

[Anonymous User]

Your stub hours will count towards your bonus next year. KE bonus period runs from September to September.

[Anonymous User]

What's the distinction between "merit bonus" and "hours bonus" in the comp memo? I don't understand how each is calculated (for example, is there a max per class year for the "merit bonus"?) and the interplay. Also does anyone know if laterals/clerks who start X months after the bonus year begins have their hours annualized across the 12 month bonus year? Seems like a total waste to have worked hard over 12-X months if the hours aren't annualized.

Also curious about this. Anyone know?

Tangentially related but I was a clerk that started in September and got the COVID bonus but not an hours bonus, which makes sense given no stub year bonuses at K&E/started after end of bonus year. Curious whether the straight from law school class of 2020 1st years also got the COVID bonus?

I’m a stub, didn’t get anything. Understandable but already billing 200+ a month and didn’t get a break after the bar, so also kinda miffed we didn’t get at least a token.

Didn’t think first years were supposed to get a bonus until they invited us to the town hall, mentioned that 99% of associates would get a bonus and then sent us individualized compensation memos. Was not particularly happy to open the memo and see only our name and currently salary listed with no mention of a bonus. Savage move.

It's like that every year. 1st years get a $10,000 summer stipend, not an "advance" like other firms. This is always more money in your pocket than whatever pro-rated amount of $15,000 that some firms pay their stubs.

One of the pitfalls of working from home is that stuff like this would have been common knowledge, communicated by other first years at the water cooler or by your mentors.

[Anonymous User]

Your stub hours will count towards your bonus next year. KE bonus period runs from September to September.

How long have the stubs been working for? Thought that no-stub bonuses was extremely common knowledge.

[Anonymous User]

Mid-level, 2200 hrs, 1.3x + special, very positive reviews. On par with last year so the ‘best ever’ narrative was misleading at best since they're clearly just talking about no cap. Pretty positive it’s just an excel spreadsheet and that when your numbers don’t line up with other stuff you’re hearing, it’s because those people are padding their numbers (either hours or multiplier).

I'm skeptical of your conclusion. My multiplier is less than 0.1x above yours with around 200 additional hours. Some factor(s) is in play here that associates are simply not privy to. It is more than a chart for every class year and rating, with one line moving along an hours axis.

[Anonymous User]

Mid-level, 2200 hrs, 1.3x + special, very positive reviews. On par with last year so the ‘best ever’ narrative was misleading at best since they're clearly just talking about no cap. Pretty positive it’s just an excel spreadsheet and that when your numbers don’t line up with other stuff you’re hearing, it’s because those people are padding their numbers (either hours or multiplier).

I'm skeptical of your conclusion. My multiplier is less than 0.1x above yours with around 200 additional hours. Some factor(s) is in play here that associates are simply not privy to. It is more than a chart for every class year and rating, with one line moving along an hours axis.

I mean we are all giving out rough approximations (and likely most people are fudging numbers somewhat to further preserve anonymity). For first, second, and third years, I do think this is a simple hours-based formula. There’s some variance for fourth, fifth, and sixth years for the merit component of the bonus, likely based on rating.

[Anonymous User]

When are year end bonuses at KE typically paid out? I heard it was around Christmas time but still don’t know if it’s supposed to be before or after

[Anonymous User]

When are year end bonuses at KE typically paid out? I heard it was around Christmas time but still don’t know if it’s supposed to be before or after

Bonus memo says 12/31. I think it hit my account on 12/30 last year. It will be in calendar year 2020.

[Anonymous User]

Gotta love that the firm claims to have paid “99% of associates in good standing an above-market bonus,” but accomplished this by paying a lot of associates just 5% over market and giving anyone it wanted to market-bonus or no-bonus a 4 so they wouldn’t be in “good standing” and hurt the misleading 99% stat. The refusal to release any breakdown of bonuses across the firm this year like every other year is obviously because bonuses are not as good as advertised.

[Anonymous User]

Gotta love that the firm claims to have paid “99% of associates in good standing an above-market bonus,” but accomplished this by paying a lot of associates just 5% over market and giving anyone it wanted to market-bonus or no-bonus a 4 so they wouldn’t be in “good standing” and hurt the misleading 99% stat. The refusal to release any breakdown of bonuses across the firm this year like every other year is obviously because bonuses are not as good as advertised.

Completely false. Nice fucking try.

[Anonymous User]

Gotta love that the firm claims to have paid “99% of associates in good standing an above-market bonus,” but accomplished this by paying a lot of associates just 5% over market and giving anyone it wanted to market-bonus or no-bonus a 4 so they wouldn’t be in “good standing” and hurt the misleading 99% stat. The refusal to release any breakdown of bonuses across the firm this year like every other year is obviously because bonuses are not as good as advertised.

Completely false. Nice fucking try.

Anon above. Lol please do tell what about this is “completely false”? The firm didn’t give us any data at the townhall this year except that opaque “99%” stat. Base bonuses are 1.05x, as confirmed elsewhere in this thread. And I personally know multiple associates that were given a 4 and below-market bonus (or no bonus). Do you work for recruiting or something?

[Anonymous User]

Gotta love that the firm claims to have paid “99% of associates in good standing an above-market bonus,” but accomplished this by paying a lot of associates just 5% over market and giving anyone it wanted to market-bonus or no-bonus a 4 so they wouldn’t be in “good standing” and hurt the misleading 99% stat. The refusal to release any breakdown of bonuses across the firm this year like every other year is obviously because bonuses are not as good as advertised.

Completely false. Nice fucking try.

Anon above. Lol please do tell what about this is “completely false”? The firm didn’t give us any data at the townhall this year except that opaque “99%” stat. Base bonuses are 1.05x, as confirmed elsewhere in this thread. And I personally know multiple associates that were given a 4 and below-market bonus (or no bonus). Do you work for recruiting or something?

You personally know multiple associates with 4s? That alone marks you as a fraud. Very few associates get 4s and even fewer would admit it. But you know multiples of them?

Also, an associate with a 4 is still an associate "in good standing". Meaning, yes even they get above market bonuses.

[Anonymous User]

Gotta love that the firm claims to have paid “99% of associates in good standing an above-market bonus,” but accomplished this by paying a lot of associates just 5% over market and giving anyone it wanted to market-bonus or no-bonus a 4 so they wouldn’t be in “good standing” and hurt the misleading 99% stat. The refusal to release any breakdown of bonuses across the firm this year like every other year is obviously because bonuses are not as good as advertised.

Completely false. Nice fucking try.

Anon above. Lol please do tell what about this is “completely false”? The firm didn’t give us any data at the townhall this year except that opaque “99%” stat. Base bonuses are 1.05x, as confirmed elsewhere in this thread. And I personally know multiple associates that were given a 4 and below-market bonus (or no bonus). Do you work for recruiting or something?

If you know multiple associates given 4s, you need better friends

[Anonymous User]

Are bonuses supposed to hit our accounts on the 31st?

[Anonymous User]

Definitely should have already hit your account. Mine came in yesterday.

[legalpotato]

Definitely should have already hit your account. Mine came in yesterday.

Same. I got bad news for the above poster........

[Anonymous User]

Above anon, clerk “stub,” so honestly didn’t think I was eligible for anything because of bonus year being Aug 31, but like other clerk stubs, special bonus was listed in my comp memo. Did any other person in the same boat get paid out yesterday or are we thinking they are not paying out until Dec. 2021 bonuses are paid? Kind of ridiculous if that’s what they are doing.

[Anonymous User]

Above anon, clerk “stub,” so honestly didn’t think I was eligible for anything because of bonus year being Aug 31, but like other clerk stubs, special bonus was listed in my comp memo. Did any other person in the same boat get paid out yesterday or are we thinking they are not paying out until Dec. 2021 bonuses are paid? Kind of ridiculous if that’s what they are doing.

Email out today said the bonus will hit on 1/15 paycheck for this "stub" former clerk.