2021 End of Year Bonuses Forum

[Anonymous User]

Cahill special bonus raise according to ATL? Will this be market?

https://abovethelaw.com/2021/12/cahill-bonus-2021/

Wow, those are actually some nice bumps. IDK if Cahill sets market or if other firms generally ignore it (a la ignoring K&E’s “shattering” bonus numbers).

Biggest risk is that everybody (associates, but especially partners) consider EOY bonuses “done” at this point, and have stopped paying attention.

Also firms begin to pay out soon. Cravath pays out in two days on Dec. 17. And while the firms could definitely true up associates later, paying the existing bonus(es) makes it easier to ignore these developments and call it a done deal.

[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.

My reviewer couldn’t recall off the top of their head—did any GDC associates hear when bonuses will be paid?

[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.

My reviewer couldn’t recall off the top of their head—did any GDC associates hear when bonuses will be paid?

Circling back to add a data point, I got more than market and hours are in the 2300/2400s.

[Joachim2017]

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.

My reviewer couldn’t recall off the top of their head—did any GDC associates hear when bonuses will be paid?

Circling back to add a data point, I got more than market and hours are in the 2300/2400s.

I mean at this point, if you are billing in the 2300-2400s and notgetting more than market, you're doing it wrong...

[Anonymous User]

Cahill special bonus raise according to ATL? Will this be market?

As the ATL article notes, Cahill often beats the market and it generally doesn't cause others to rethink.

This isn't for high billers but for everyone. A new leader shatters the market! Cahill is the new DPW. What an amazing firm. Now that I think about it, they are the go to firm for banks and DPW probably just accepts the scrap work their partners rejected.
New V5: WLKR, CGR, DPW, MILBANK, no on else matters

[ExpOriental]

Cahill special bonus raise according to ATL? Will this be market?

As the ATL article notes, Cahill often beats the market and it generally doesn't cause others to rethink.

This isn't for high billers but for everyone. A new leader shatters the market! Cahill is the new DPW. What an amazing firm. Now that I think about it, they are the go to firm for banks and DPW probably just accepts the scrap work their partners rejected.
New V5: WLKR, CGR, DPW, MILBANK, no on else matters

Unacceptable Cooley and Willkie erasure

[Anonymous User]

Cahill special bonus raise according to ATL? Will this be market?

https://abovethelaw.com/2021/12/cahill-bonus-2021/

Wow, those are actually some nice bumps. IDK if Cahill sets market or if other firms generally ignore it (a la ignoring K&E’s “shattering” bonus numbers).

Biggest risk is that everybody (associates, but especially partners) consider EOY bonuses “done” at this point, and have stopped paying attention.

Also firms begin to pay out soon. Cravath pays out in two days on Dec. 17. And while the firms could definitely true up associates later, paying the existing bonus(es) makes it easier to ignore these developments and call it a done deal.

Cahill has almost always been above market in bonuses, so I don’t think it’ll change anything.

[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.

My reviewer couldn’t recall off the top of their head—did any GDC associates hear when bonuses will be paid?

Its historically before Christmas, so I'd guess early next week.

[Anonymous User]

Why does no one care about Cahill? Kinda random. It's not a boutique or a Kirkland.

Also we should get a side thread going about diff policies on diaries. At K&S the penalty is you have to pick up a physical check from office managing partner in person.

[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.

My reviewer couldn’t recall off the top of their head—did any GDC associates hear when bonuses will be paid?

Its historically before Christmas, so I'd guess early next week.

The DC partners-in-charge said December 23 for the special bonuses, at least.

[Anonymous User]

Why does no one care about Cahill? Kinda random. It's not a boutique or a Kirkland.

Also we should get a side thread going about diff policies on diaries. At K&S the penalty is you have to pick up a physical check from office managing partner in person.

Cahill is quite strong in certain areas like finance. But they don't have a diversified, broad corporate practice - not much M&A for instance.

[Anonymous User]

Why does no one care about Cahill? Kinda random. It's not a boutique or a Kirkland.

Also we should get a side thread going about diff policies on diaries. At K&S the penalty is you have to pick up a physical check from office managing partner in person.

Cahill is quite strong in certain areas like finance. But they don't have a diversified, broad corporate practice - not much M&A for instance.

Exactly, Cahill functionally is a boutique. Less than 300 lawyers and less than 70 partners. Not full service and hyper focused on certain categories of cap markets, banking and finance

[Anonymous User]

Sheppard full DPW match at 2000 hours (1850 billables). For 2200 and 2400, you get 110% and 120% of bonus.

Also giving all assocs 40 hours of "unplug" time that count as billables for the upcoming year.

[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.

My reviewer couldn’t recall off the top of their head—did any GDC associates hear when bonuses will be paid?

Its historically before Christmas, so I'd guess early next week.

12/23

[Anonymous User]

Winston Strawn match + the high hours bonus they promised. I'm surprised this hasnt made ATL yet. Several days old now.

[Anonymous User]

V&E match (DPW + special bonuses). Bonus multipliers for high billers not announced but are "expected to be consistent with past practice," i.e., 1.25x for 2300 and 1.35x for 2500+. I think either 1.1x or 1.15x for 2150.

[Anonymous User]

V&E match (DPW + special bonuses). Bonus multipliers for high billers not announced but are "expected to be consistent with past practice," i.e., 1.25x for 2300 and 1.35x for 2500+. I think either 1.1x or 1.15x for 2150.

Not to derail but it's wild to me that Kirkland basically pays the same as V&E now (and a whole bunch of other firms), after it devalued its bonus multipliers like Zimbabwean currency.

[Anonymous User]

BB bonuses announced but no match for special bonuses at year end. So now BB officially not paying market and not keeping up with V&E.

[Anonymous User]

BB announced bonuses, but no match for year end special bonus. So much for paying market and competing with V&E.

[Anonymous User]

V&E match (DPW + special bonuses). Bonus multipliers for high billers not announced but are "expected to be consistent with past practice," i.e., 1.25x for 2300 and 1.35x for 2500+. I think either 1.1x or 1.15x for 2150.

This might be obvious, but is the multiplier based off of the new base bonuses only, or the base + special bonus?

E.g. would a 3rd year that billed 2300 receive $83,375 ($57,500 x 1.25 + $11,500) OR $86,250 (($57,500 + $11,500) x 1.25)?

[Anonymous User]

V&E match (DPW + special bonuses). Bonus multipliers for high billers not announced but are "expected to be consistent with past practice," i.e., 1.25x for 2300 and 1.35x for 2500+. I think either 1.1x or 1.15x for 2150.

This might be obvious, but is the multiplier based off of the new base bonuses only, or the base + special bonus?

E.g. would a 3rd year that billed 2300 receive $83,375 ($57,500 x 1.25 + $11,500) OR $86,250 (($57,500 + $11,500) x 1.25)?

Original quoted anon here. The multiplier is based only on the new base bonuses.

[Anonymous User]

Latham just released special bonuses that match DPW but gives 2.5k for Class of 2021. Bonus memos don't come until end of January so no clue how actual bonuses will turn out.

[Anonymous User]

Latham just released special bonuses that match DPW but gives 2.5k for Class of 2021. Bonus memos don't come until end of January so no clue how actual bonuses will turn out.

Stubbies are actually making more in special bonus per month worked than first or second years on this scale. Not a huge difference in absolute terms though.

[Anonymous User]

Latham just released special bonuses that match DPW but gives 2.5k for Class of 2021. Bonus memos don't come until end of January so no clue how actual bonuses will turn out.

Stubbies are actually making more in special bonus per month worked than first or second years on this scale. Not a huge difference in absolute terms though.

wait, I thought the current standard is no special bonuses for c/o 2021? would other firms match latham on stubbies special bonuses?

[Anonymous User]

Latham just released special bonuses that match DPW but gives 2.5k for Class of 2021. Bonus memos don't come until end of January so no clue how actual bonuses will turn out.

Stubbies are actually making more in special bonus per month worked than first or second years on this scale. Not a huge difference in absolute terms though.

wait, I thought the current standard is no special bonuses for c/o 2021? would other firms match latham on stubbies special bonuses?

Probs not. Keep in mind Latham does not pay prorated annual bonuses to stubs. At least they get something this year.