2021 End of Year Bonuses Forum

[washdc2012]

Still a lot of firms missing, right? Latham, Sidley, any of the CA tech firms? Anyone at those firms know if the delay is typical?

I don't know if I'd really call this "missing" or "delay." Unlike salary increases, which happen at odd times during the year and cause a flurry of excitement/unpredictability, firms typically announce and pay out their EOY end bonus on the same schedule year after year. The ones we've heard from do so in the fall/early winter. The ones we haven't heard from are probably those that announce in late December or in the new year. Someone should speak up if they are at a firm that would have normally announced by now, but hasn't.

For example, my V25 always announces EOY bonuses the Thursday or Friday before payday in January (when those bonuses are paid out). They always match market and I have no doubts they will do so this year. It would be unusual for my firm to say anything about bonuses before then.

Gunderson supposedly pays out bonuses a week from today and hasn't announced anything yet. Might just be waiting to see what the other SV/tech firms do (and I imagine all will match), but a little odd.

Ditto Fenwick.

[Anonymous User]

Paying out in January is acceptable, but my V15 typically pays out in February. Why so much delay? wtf

Keep you on the wheel.

Screw them. Sending a thank-you message to its associates for their hard work during 2021 in February 2022 would look ridiculous to be honest

[Anonymous User]

Goodwin match of DPW. High billers and/or those who get good reviews can get up to 1.75x the scale, although seems they're not folding in the special bonus into the scale but including it separately.

[Wanderingdrock]

Hogan Lovells (which had previously announced plain Cravath scale) just matched DPW special bonuses. Same hours requirement as firm always has for bonuses (2000, of which 150 can be pro Bono).

Hogan’s special bonus is actually more generous with an 1850 hours requirement. This was the lower requirement used for the spring special bonuses. Kudos to Hogan. They’re clearly positioning themselves as the DC market leader this year.

Didn’t it literally reduce salaries temporarily last year in light of COVID while none of its peers did so?

Yeah, hard agree that this is a bizarre position. Not only did Hogan reduce salaries, but claiming that the special bonus is "actually more generous" because you can count 150 hours of pro bono is just a misunderstanding of the market. I'm a DC associate at what I'd consider a peer firm of Hogan (we're higher ranked but definitely the same tier) and my pro bono is unlimited (which in reality means I can safely do ~200 without getting questions, need a good reason if I'm going to go much above that while only doing 1800 client billable). My understanding is that's pretty standard, or at least not uncommon.

Hogan associate here. The special bonus is 1850, which includes 150 pb and 50 D&I. EOY bonus is 2000, which includes 150 pb & 50 D&I. So people who didn’t get EOY can get special.

Ah, thank you! This makes more sense. I had misread the earlier post as saying that Hogan's special bonus was more generous than that given at other firms, rather than saying Hogan's special bonus is more generously awarded than the firm's normal EOY bonus. Still sucks that y'all's comp got cut during the pandemic, but I like this move by Hogan.

[Anonymous User]

As another Hogan Associate, they cut our comp in June 2020 and reversed the decision and gave us a true-up back to market in September 2020. So it was a very temporary thing. I'm glad the firm's been rather quick on this year's bonuses -- I think they recognized, given the market, that mistakes were made in decisions made last year, as it were.

[Anonymous User]

Still a lot of firms missing, right? Latham, Sidley, any of the CA tech firms? Anyone at those firms know if the delay is typical?

Pretty normal for the CA tech firms to drag behind the market a bit (other than Cooley leading the way on special bonuses) but they'll match eventually. Ropes has matched, so Goodwin has to match a Boston peer and then that'll push the tech firms more.

Also, Kirkland now has offices in both Boston and SF, and there is a 100% chance they match (with extras) so that will provide significant pressure for those markets to match anyway.

[2013]

Goodwin match of DPW. High billers and/or those who get good reviews can get up to 1.75x the scale, although seems they're not folding in the special bonus into the scale but including it separately.

Will be curious to see Goodwin memo. I always liked how transparent the memo was (X% of associate received a bonus).

[Anonymous User]

White & Case matched DPW yesterday. The end of year bonus is subject to the usual hours requirements while the special bonus is not. As usual, the bonus won’t be paid until February 14, 2022 which sucks.

[Anonymous User]

White & Case matched DPW yesterday. The end of year bonus is subject to the usual hours requirements while the special bonus is not. As usual, the bonus won’t be paid until February 14, 2022 which sucks.

What is the current hours policy to hit the non-special bonus?

[Anonymous User]

White & Case matched DPW yesterday. The end of year bonus is subject to the usual hours requirements while the special bonus is not. As usual, the bonus won’t be paid until February 14, 2022 which sucks.

What is the current hours policy to hit the non-special bonus?

In order to be eligible for a full bonus Associates and Counsel must:
 Bill a minimum of 2,000 hours (the “Aggregate Hours Threshold”) per calendar year.
• Of the 2,000 hours, a minimum of 1,750 hours must be billed to client chargeable matters.
• The remaining 250 hours may consist of additional client chargeable hours and/or may be
obtained as follows:
o Up to 50 hours can be obtained through approved Diversity and Inclusion hours.
o Up to 200 hours can be obtained through a combination of Pro Bono hours and/or
other Firm Chargeable hours (including additional approved Diversity and Inclusion
hours) as set forth in this policy below.
o The Firm values these types of non-client chargeable contributions, and wants to
encourage associates in these areas.
• First year associates will not be held to the billable hours requirement.
 Substantially comply with the Firm’s policy on average diary time release which is five (5) days or
less from the date the unit of time is worked. If not compliant, there will be a deduction in your
bonus award determined based upon the amount by which your average diary release time
exceeds five (5) days.
Associates who have substantially exceeded expectations, in terms of hours and outstanding
contribution, may be eligible for compensation up to 110-125% of the bonus amount announced for their
level in a given year.
Bonus eligibility and amounts for Counsel and Associates beyond Level 8 will continue to be determined
on an individual basis by Section leaders.
The Firm reserves the right to reduce a bonus payment due to performance or other concerns

[Anonymous User]

White & Case matched DPW yesterday. The end of year bonus is subject to the usual hours requirements while the special bonus is not. As usual, the bonus won’t be paid until February 14, 2022 which sucks.

What is the current hours policy to hit the non-special bonus?

In order to be eligible for a full bonus Associates and Counsel must:
 Bill a minimum of 2,000 hours (the “Aggregate Hours Threshold”) per calendar year.
• Of the 2,000 hours, a minimum of 1,750 hours must be billed to client chargeable matters.
• The remaining 250 hours may consist of additional client chargeable hours and/or may be
obtained as follows:
o Up to 50 hours can be obtained through approved Diversity and Inclusion hours.
o Up to 200 hours can be obtained through a combination of Pro Bono hours and/or
other Firm Chargeable hours (including additional approved Diversity and Inclusion
hours) as set forth in this policy below.
o The Firm values these types of non-client chargeable contributions, and wants to
encourage associates in these areas.
• First year associates will not be held to the billable hours requirement.
 Substantially comply with the Firm’s policy on average diary time release which is five (5) days or
less from the date the unit of time is worked. If not compliant, there will be a deduction in your
bonus award determined based upon the amount by which your average diary release time
exceeds five (5) days.
Associates who have substantially exceeded expectations, in terms of hours and outstanding
contribution, may be eligible for compensation up to 110-125% of the bonus amount announced for their
level in a given year.
Bonus eligibility and amounts for Counsel and Associates beyond Level 8 will continue to be determined
on an individual basis by Section leaders.
The Firm reserves the right to reduce a bonus payment due to performance or other concerns

Thank you very much.

Last question, do you know if they pro-rate bonus for paternity/health leave or is it just a hard 2k aggregate cutoff?

[Bramwell]

White & Case matched DPW yesterday. The end of year bonus is subject to the usual hours requirements while the special bonus is not. As usual, the bonus won’t be paid until February 14, 2022 which sucks.

What is the current hours policy to hit the non-special bonus?

In order to be eligible for a full bonus Associates and Counsel must:
 Bill a minimum of 2,000 hours (the “Aggregate Hours Threshold”) per calendar year.
• Of the 2,000 hours, a minimum of 1,750 hours must be billed to client chargeable matters.
• The remaining 250 hours may consist of additional client chargeable hours and/or may be
obtained as follows:
o Up to 50 hours can be obtained through approved Diversity and Inclusion hours.
o Up to 200 hours can be obtained through a combination of Pro Bono hours and/or
other Firm Chargeable hours (including additional approved Diversity and Inclusion
hours) as set forth in this policy below.
o The Firm values these types of non-client chargeable contributions, and wants to
encourage associates in these areas.
• First year associates will not be held to the billable hours requirement.
 Substantially comply with the Firm’s policy on average diary time release which is five (5) days or
less from the date the unit of time is worked. If not compliant, there will be a deduction in your
bonus award determined based upon the amount by which your average diary release time
exceeds five (5) days.
Associates who have substantially exceeded expectations, in terms of hours and outstanding
contribution, may be eligible for compensation up to 110-125% of the bonus amount announced for their
level in a given year.
Bonus eligibility and amounts for Counsel and Associates beyond Level 8 will continue to be determined
on an individual basis by Section leaders.
The Firm reserves the right to reduce a bonus payment due to performance or other concerns

Thank you very much.

Last question, do you know if they pro-rate bonus for paternity/health leave or is it just a hard 2k aggregate cutoff?

For paid leave, hours requirement is pro rated. Bonus is full bonus.

[Anonymous User]

White & Case matched DPW yesterday. The end of year bonus is subject to the usual hours requirements while the special bonus is not. As usual, the bonus won’t be paid until February 14, 2022 which sucks.

What is the current hours policy to hit the non-special bonus?

In order to be eligible for a full bonus Associates and Counsel must:
 Bill a minimum of 2,000 hours (the “Aggregate Hours Threshold”) per calendar year.
• Of the 2,000 hours, a minimum of 1,750 hours must be billed to client chargeable matters.
• The remaining 250 hours may consist of additional client chargeable hours and/or may be
obtained as follows:
o Up to 50 hours can be obtained through approved Diversity and Inclusion hours.
o Up to 200 hours can be obtained through a combination of Pro Bono hours and/or
other Firm Chargeable hours (including additional approved Diversity and Inclusion
hours) as set forth in this policy below.
o The Firm values these types of non-client chargeable contributions, and wants to
encourage associates in these areas.
• First year associates will not be held to the billable hours requirement.
 Substantially comply with the Firm’s policy on average diary time release which is five (5) days or
less from the date the unit of time is worked. If not compliant, there will be a deduction in your
bonus award determined based upon the amount by which your average diary release time
exceeds five (5) days.
Associates who have substantially exceeded expectations, in terms of hours and outstanding
contribution, may be eligible for compensation up to 110-125% of the bonus amount announced for their
level in a given year.
Bonus eligibility and amounts for Counsel and Associates beyond Level 8 will continue to be determined
on an individual basis by Section leaders.
The Firm reserves the right to reduce a bonus payment due to performance or other concerns

5 days or *FEWER c'mon now

[Anonymous User]

White & Case matched DPW yesterday. The end of year bonus is subject to the usual hours requirements while the special bonus is not. As usual, the bonus won’t be paid until February 14, 2022 which sucks.

What is the current hours policy to hit the non-special bonus?

In order to be eligible for a full bonus Associates and Counsel must:
 Bill a minimum of 2,000 hours (the “Aggregate Hours Threshold”) per calendar year.
• Of the 2,000 hours, a minimum of 1,750 hours must be billed to client chargeable matters.
• The remaining 250 hours may consist of additional client chargeable hours and/or may be
obtained as follows:
o Up to 50 hours can be obtained through approved Diversity and Inclusion hours.
o Up to 200 hours can be obtained through a combination of Pro Bono hours and/or
other Firm Chargeable hours (including additional approved Diversity and Inclusion
hours) as set forth in this policy below.
o The Firm values these types of non-client chargeable contributions, and wants to
encourage associates in these areas.
• First year associates will not be held to the billable hours requirement.
 Substantially comply with the Firm’s policy on average diary time release which is five (5) days or
less from the date the unit of time is worked. If not compliant, there will be a deduction in your
bonus award determined based upon the amount by which your average diary release time
exceeds five (5) days.
Associates who have substantially exceeded expectations, in terms of hours and outstanding
contribution, may be eligible for compensation up to 110-125% of the bonus amount announced for their
level in a given year.
Bonus eligibility and amounts for Counsel and Associates beyond Level 8 will continue to be determined
on an individual basis by Section leaders.
The Firm reserves the right to reduce a bonus payment due to performance or other concerns

5 days or *FEWER c'mon now

Bonus for the previous year's performance being paid out in the middle of goddamn February, and the schtick about diary release time. So fucking cheap. As someone that moved to W&C from a different firm, their bonus policy objectively sucks.

[Anonymous User]

Does GDC pay a bonus multiplier or anything extra for higher billers?

[Sackboy]

Does GDC pay a bonus multiplier or anything extra for higher billers?

Note to others, avoid being a high biller, and you'll never have to ask this question about any firm.

[Anonymous User]

White & Case matched DPW yesterday. The end of year bonus is subject to the usual hours requirements while the special bonus is not. As usual, the bonus won’t be paid until February 14, 2022 which sucks.

What is the current hours policy to hit the non-special bonus?

In order to be eligible for a full bonus Associates and Counsel must:
 Bill a minimum of 2,000 hours (the “Aggregate Hours Threshold”) per calendar year.
• Of the 2,000 hours, a minimum of 1,750 hours must be billed to client chargeable matters.
• The remaining 250 hours may consist of additional client chargeable hours and/or may be
obtained as follows:
o Up to 50 hours can be obtained through approved Diversity and Inclusion hours.
o Up to 200 hours can be obtained through a combination of Pro Bono hours and/or
other Firm Chargeable hours (including additional approved Diversity and Inclusion
hours) as set forth in this policy below.
o The Firm values these types of non-client chargeable contributions, and wants to
encourage associates in these areas.
• First year associates will not be held to the billable hours requirement.
 Substantially comply with the Firm’s policy on average diary time release which is five (5) days or
less from the date the unit of time is worked. If not compliant, there will be a deduction in your
bonus award determined based upon the amount by which your average diary release time
exceeds five (5) days.
Associates who have substantially exceeded expectations, in terms of hours and outstanding
contribution, may be eligible for compensation up to 110-125% of the bonus amount announced for their
level in a given year.
Bonus eligibility and amounts for Counsel and Associates beyond Level 8 will continue to be determined
on an individual basis by Section leaders.
The Firm reserves the right to reduce a bonus payment due to performance or other concerns

5 days or *FEWER c'mon now

Bonus for the previous year's performance being paid out in the middle of goddamn February, and the schtick about diary release time. So fucking cheap. As someone that moved to W&C from a different firm, their bonus policy objectively sucks.

Well at least they don't deduct 20% of regular salary if you don't release the prior week's time by Tuesday morning like at STB.

[Anonymous User]

Does GDC pay a bonus multiplier or anything extra for higher billers?

Historically, yes. What I’ve seen is that you get a bonus equal to the class year ahead of you. But the firm wide memo suggests otherwise. Will be interested to hear whether others get above market bonuses in their individual reviews this week.

[Anonymous User]

Does GDC pay a bonus multiplier or anything extra for higher billers?

Historically, yes. What I’ve seen is that you get a bonus equal to the class year ahead of you. But the firm wide memo suggests otherwise. Will be interested to hear whether others get above market bonuses in their individual reviews this week.

The DC partners-in-charge said at an associate town hall last week that the memo does not signal a departure from the past practice of treating the bonus-announcement numbers as the standard bonus amount, but adjusting up (and down) from that number based on performance.

[Anonymous User]

This is an incredibly simplified argument that can only be made by someone who doesn’t live and work in NYC. No one is going from 2500 to 1600 - they’re going 2500 to 2400.

My practice was hit very hard by the pandemic and I went from averaging ~2,100 per year to ~1,250 annualized last year. I'm sure there are people in NYC no billable requirement firms who skate by on 1,600 hours for a year and still get a bonus because there's no minimum.

[Anonymous User]

This is an incredibly simplified argument that can only be made by someone who doesn’t live and work in NYC. No one is going from 2500 to 1600 - they’re going 2500 to 2400.

My practice was hit very hard by the pandemic and I went from averaging ~2,100 per year to ~1,250 annualized last year. I'm sure there are people in NYC no billable requirement firms who skate by on 1,600 hours for a year and still get a bonus because there's no minimum.

maybe just work at a v10 where you're not subject to this weird system, idk

[almostperfectt]

This is an incredibly simplified argument that can only be made by someone who doesn’t live and work in NYC. No one is going from 2500 to 1600 - they’re going 2500 to 2400.

My practice was hit very hard by the pandemic and I went from averaging ~2,100 per year to ~1,250 annualized last year. I'm sure there are people in NYC no billable requirement firms who skate by on 1,600 hours for a year and still get a bonus because there's no minimum.

maybe just work at a v10 where you're not subject to this weird system, idk

Imagine this brave anon telling people with work issues "just be more successful bro"

[Anonymous User]

This is an incredibly simplified argument that can only be made by someone who doesn’t live and work in NYC. No one is going from 2500 to 1600 - they’re going 2500 to 2400.

My practice was hit very hard by the pandemic and I went from averaging ~2,100 per year to ~1,250 annualized last year. I'm sure there are people in NYC no billable requirement firms who skate by on 1,600 hours for a year and still get a bonus because there's no minimum.

maybe just work at a v10 where you're not subject to this weird system, idk

Imagine this brave anon telling people with work issues "just be more successful bro"

imagine misunderstanding the point - if you're at gdc, you can lateral into literally any other v10 (other than wlrk, csm maybe) without issue, so instead of sitting and continuing to get dogged by a bad system, consider going to a place where you don't have to sweat this kind of inanity.

[Anonymous User]

Any calls out at any Greenberg Traurig offices yet? Uncharacteristically late in the month for bonus calls unless it’s just the two offices I know of.

[Anonymous User]

This is an incredibly simplified argument that can only be made by someone who doesn’t live and work in NYC. No one is going from 2500 to 1600 - they’re going 2500 to 2400.

My practice was hit very hard by the pandemic and I went from averaging ~2,100 per year to ~1,250 annualized last year. I'm sure there are people in NYC no billable requirement firms who skate by on 1,600 hours for a year and still get a bonus because there's no minimum.

maybe just work at a v10 where you're not subject to this weird system, idk

Imagine this brave anon telling people with work issues "just be more successful bro"

imagine misunderstanding the point - if you're at gdc, you can lateral into literally any other v10 (other than wlrk, csm maybe) without issue, so instead of sitting and continuing to get dogged by a bad system, consider going to a place where you don't have to sweat this kind of inanity.

Just a reminder that vault rankings have very little do with reality. I went from a V50 to V15 and the bonus system is much worse here. Back at my prior firm, there was no minimum billable requirement and bonuses were paid in late December or early January. At this V15, they have a 2000 target (1800 of which must be billable) and pay out in the middle of February. No real issue with the billable target even though I would rather not have it, but the timing of payments sucks.