2021 End of Year Bonuses Forum

[Anonymous User]

So just clarifying right now, to recap as of today’s date and time, where we stand is:

Big Skadden retention bonuses for select few announced, to be paid mid year next year

STB retention bonuses to be paid soon for select few

Mintz levin (of all places) 40k retention bonuses across the board…


And nothing about scale of normal annual bonus?

Is that all correct, more or less?

The STB special retention bonuses were paid in August.

There is skepticism among STB associates this was paid to anyone. There are mid/senior associates pacing 2700+ who got nothing and we can't find anyone who acknowledges getting this, so if this was paid, it shouldn't really be talked about as it hit such an incredibly small number of people. STB offers people a pittance to stay or nothing after they give notice from what I can tell even when they in the 3k zone so its been hard for STB associates to believe this.

[Anonymous User]

Latham making a move to be the new market leader and to increase associate morale with its special bonus - a water bottle and a laptop sleeve.

I asked for the backpack, my current computer bag is shot so timing is good.

That said, suppppppeeeeerrrrrrrr lame attempt to boost morale

Wait, this was a serious post?

Sadly, yes. Latham sent out emails yesterday thanking associates for all the hard work and rewarding us with our choice of various sub-$20 garbage.

I need to see this email

[Anonymous User]

Mintz announced special bonuses. $20k for first and second heard. $40k for all other class years.

Prob irrelevant cause they never paid it in the first instance

Apparently they paid bonuses in September too. So it is not irrelevant.

This is news - can someone confirm? Was that on TLS/ATL?

Yeah - is ATL behind on this? Says “no” on the special bonus section: https://abovethelaw.com/2021/06/salary- ... cker-2021/

Any Mintz folks care to share if these new bonuses come on top of this year's retention bonuses? The new $20k/$40k bonuses are now ATL official (https://abovethelaw.com/2021/11/mintz-s ... fall-2021/), but Staci is letting us down by ignoring that Mintz is still listed as no on retention bonuses.

I agree these are too small to make a difference for many, but it would be a good signal that something bigger is on its way.

Curious as well… the NEP Instagram post showed the first half of the email, which referenced a bonus that was paid out in September. I think Mintz is probably above market for junior and midlevel associates.

Can anyone confirm if Mintz, a law firm with $1.9mm PEP, is paying $40k above market?

[Anonymous User]

Latham making a move to be the new market leader and to increase associate morale with its special bonus - a water bottle and a laptop sleeve.

I asked for the backpack, my current computer bag is shot so timing is good.

That said, suppppppeeeeerrrrrrrr lame attempt to boost morale

Wait, this was a serious post?

As cereal as Al Gore about Man-Bear-Pig in South Park.

Was amazed but also not the least bit surprised when we got the email. It was a magical moment.

Not sure what you were expecting. Latham will match whatever becomes market but will never lead. We also generally take a while to match so wouldn’t expect to hear anything for several weeks.

FYI I am a 6th year at Latham, so was not expecting anything. We will announce 2021 bonuses super late the third week of January 2022 and pay them January 31, 2022 as always. That day is a Monday. If my current job search works out as I hope, within an hour of verifying my bonus direct deposit has hit my checking account, I will walk into my managing partner's office (unless there is a line, which seems likely) and give my notice.

The "choose from our 4 goodies" email was still absurd bs IMO... I dont want any of that crap, I want you to hire more people so we all are not strung out working absurd hours on deal that there is no staffing for.

[Miss-Bubbled]

Maybe I missed it, but has anyone from Mintz confirmed that the PW special bonuses? ATL still shows that they did pay them.

https://abovethelaw.com/2021/06/salary- ... 021/?amp=1

[Anonymous User]

So just clarifying right now, to recap as of today’s date and time, where we stand is:

Big Skadden retention bonuses for select few announced, to be paid mid year next year

STB retention bonuses to be paid soon for select few

Mintz levin (of all places) 40k retention bonuses across the board…


And nothing about scale of normal annual bonus?

Is that all correct, more or less?

The STB special retention bonuses were paid in August.

There is skepticism among STB associates this was paid to anyone. There are mid/senior associates pacing 2700+ who got nothing and we can't find anyone who acknowledges getting this, so if this was paid, it shouldn't really be talked about as it hit such an incredibly small number of people. STB offers people a pittance to stay or nothing after they give notice from what I can tell even when they in the 3k zone so its been hard for STB associates to believe this.

As stated elsewhere in the thread, it was Funds only. I agree it’s not really topical for this thread but others brought it up and keep talking about it so *shrug*

[cornerstone]

Can anyone confirm if Mintz, a law firm with $1.9mm PEP, is paying $40k above market?

No, because we still aren't sure whether they paid this year's retention bonuses.

Maybe I missed it, but has anyone from Mintz confirmed that the PW special bonuses? ATL still shows that they did pay them.
https://abovethelaw.com/2021/06/salary- ... 021/?amp=1

This x1000. To the lurking Mintz associate(s) ITT: take a pause from using your paltry $20k/$40k to pay off debts from the 2020 pay cuts, stop being a coward, hit the anon reply button, and give us the scoop.

[Joachim2017]

FYI I am a 6th year at Latham, so was not expecting anything. We will announce 2021 bonuses super late the third week of January 2022 and pay them January 31, 2022 as always. That day is a Monday. If my current job search works out as I hope, within an hour of verifying my bonus direct deposit has hit my checking account, I will walk into my managing partner's office (unless there is a line, which seems likely) and give my notice.

The "choose from our 4 goodies" email was still absurd bs IMO... I dont want any of that crap, I want you to hire more people so we all are not strung out working absurd hours on deal that there is no staffing for.

Wait, Latham pays out EOY bonuses at the end of January?! Ugh...

[Anonymous User]

White & Case pays annual bonus mid-February. We aren’t getting the 2nd half of this years special bonus until EOY. The fact that they don’t have multipliers unless you’re at like 2600+ Is also not ideal.

[Anonymous User]

You guys are lucky. Paul Hastings pays in MARCH.

[Anonymous User]

So just clarifying right now, to recap as of today’s date and time, where we stand is:

Big Skadden retention bonuses for select few announced, to be paid mid year next year

STB retention bonuses to be paid soon for select few

Mintz levin (of all places) 40k retention bonuses across the board…


And nothing about scale of normal annual bonus?

Is that all correct, more or less?

The STB special retention bonuses were paid in August.

There is skepticism among STB associates this was paid to anyone. There are mid/senior associates pacing 2700+ who got nothing and we can't find anyone who acknowledges getting this, so if this was paid, it shouldn't really be talked about as it hit such an incredibly small number of people. STB offers people a pittance to stay or nothing after they give notice from what I can tell even when they in the 3k zone so its been hard for STB associates to believe this.

As stated elsewhere in the thread, it was Funds only. I agree it’s not really topical for this thread but others brought it up and keep talking about it so *shrug*

Just FYI practice group specific bonuses have been a thing (just hush hush) for a while now. Friend at Skadden told me of at least 1 practice group (market leading in non-US market) that has paid “special” bonuses EOY for several years since everyone works ~3000 hours.

[Anonymous User]

So just clarifying right now, to recap as of today’s date and time, where we stand is:

Big Skadden retention bonuses for select few announced, to be paid mid year next year

STB retention bonuses to be paid soon for select few

Mintz levin (of all places) 40k retention bonuses across the board…


And nothing about scale of normal annual bonus?

Is that all correct, more or less?

The STB special retention bonuses were paid in August.

There is skepticism among STB associates this was paid to anyone. There are mid/senior associates pacing 2700+ who got nothing and we can't find anyone who acknowledges getting this, so if this was paid, it shouldn't really be talked about as it hit such an incredibly small number of people. STB offers people a pittance to stay or nothing after they give notice from what I can tell even when they in the 3k zone so its been hard for STB associates to believe this.

As stated elsewhere in the thread, it was Funds only. I agree it’s not really topical for this thread but others brought it up and keep talking about it so *shrug*

Just FYI practice group specific bonuses have been a thing (just hush hush) for a while now. Friend at Skadden told me of at least 1 practice group (market leading in non-US market) that has paid “special” bonuses EOY for several years since everyone works ~3000 hours.

I never understand these things. Like I can maybe see you want to do Big Law long term, because of lifestyle inflation, you want to leave something for your children, etc. But I just can't imagine the bonus is worth it having like 33% more work in the form of an extra 1000 hours while you can just get a job and bill around 2000 hours, for the same pay, but just a potentially smaller bonus. It just doesn't make sense to me.

[Anonymous User]

I never understand these things. Like I can maybe see you want to do Big Law long term, because of lifestyle inflation, you want to leave something for your children, etc. But I just can't imagine the bonus is worth it having like 33% more work in the form of an extra 1000 hours while you can just get a job and bill around 2000 hours, for the same pay, but just a potentially smaller bonus. It just doesn't make sense to me.

I agree in principle, but I don't think anybody does it for the bonus. In other words, the bonus isn't close to compensatory, it's more of a recognition of commitment to the firm.

I hit north of 3k last year and am pacing for >2700 this year having taken a full month off. I've never had a year below 2500. I'm sticking around because (1) this is the only firm in my city that lets me do the particular mix of tasks in my practice area that I want to do while avoiding other ones I don't (we have another group for that), (2) my group is (as evidenced by high hours) remarkably in demand at the firm, and therefore has better partnership prospects, (3) I have built up a good reputation at this firm and worry I'll fail at that elsewhere, and (4) I'll have better exit options than most other firms I would lateral to in my city. If there was a fungible group in my city I'd lateral in a heartbeat for lower hours. But since I'm stuck here for the time being, the extra bonuses over my peers working 2k/year makes me feel a little better.

P.S. an extra 1k hours is 50% more work for someone working 2k. It's only 33% of your work if you're working 3k hours.

[Anonymous User]

I never understand these things. Like I can maybe see you want to do Big Law long term, because of lifestyle inflation, you want to leave something for your children, etc. But I just can't imagine the bonus is worth it having like 33% more work in the form of an extra 1000 hours while you can just get a job and bill around 2000 hours, for the same pay, but just a potentially smaller bonus. It just doesn't make sense to me.

I agree in principle, but I don't think anybody does it for the bonus. In other words, the bonus isn't close to compensatory, it's more of a recognition of commitment to the firm.

I hit north of 3k last year and am pacing for >2700 this year having taken a full month off. I've never had a year below 2500. I'm sticking around because (1) this is the only firm in my city that lets me do the particular mix of tasks in my practice area that I want to do while avoiding other ones I don't (we have another group for that), (2) my group is (as evidenced by high hours) remarkably in demand at the firm, and therefore has better partnership prospects, (3) I have built up a good reputation at this firm and worry I'll fail at that elsewhere, and (4) I'll have better exit options than most other firms I would lateral to in my city. If there was a fungible group in my city I'd lateral in a heartbeat for lower hours. But since I'm stuck here for the time being, the extra bonuses over my peers working 2k/year makes me feel a little better.

P.S. an extra 1k hours is 50% more work for someone working 2k. It's only 33% of your work if you're working 3k hours.

This. Some people genuinely like the job (but maybe they don't hang out here, lol). I admit I have days when I look back on what I did and feel great about it.

[Anonymous User]

I can't see 50k moving the needle for midlevels being bled out for another year, especially if signing bonuses continue to be a thing.

But I do think 50k would be enticing for the 2020s who will be quitting en masse next year.

Is the idea here that 2020s will lateral to other firms to get signing bonuses, or do you also mean going in-house or leaving law altogether? Even from top corp practices I thought it is pretty tough to get a good in-house gig before you get into your third year.

We have already had some 2020s quit before finishing the first year, so I guess there may be some just hanging on to get the year-end bonus who plan to leave early next year.

[Anonymous User]

Cannot understand the Scrooge mentality of places that wouldn't pay out a year end bonus until several months into the next year; it sounds like it would be a complete mood killer for the holidays to be like "yes, I will receive my bonus around Easter." Kirkland announces bonuses mid-to-late December (usually the week before Christmas) and the money is in your bank account before New Year's Eve.

[Anonymous User]

A special bonus announced this month and paid at the end of Q1 and/or Q2 in 2022 would significantly increase the likelihood I stay in biglaw for an additional 6-12 months, compared to leaving in January after receiving the expected end-of-year bonus. Anecdotally have heard the same from law school classmates and colleagues, and hoping we hear from firms soon. Corporate 4th year at V10.

[blair.waldorf]

Latham making a move to be the new market leader and to increase associate morale with its special bonus - a water bottle and a laptop sleeve.

I asked for the backpack, my current computer bag is shot so timing is good.

That said, suppppppeeeeerrrrrrrr lame attempt to boost morale

Wait, this was a serious post?

As cereal as Al Gore about Man-Bear-Pig in South Park.

Was amazed but also not the least bit surprised when we got the email. It was a magical moment.

Not sure what you were expecting. Latham will match whatever becomes market but will never lead. We also generally take a while to match so wouldn’t expect to hear anything for several weeks.

I was expecting firm leadership to not be so tone deaf that they send out an email during bonus season thanking us for all our hard work and offering a "small token of appreciation" that turns out to be garbage nobody wants. I'd prefer to get nothing.

Right. Getting nothing is 100% better than a complete tone deaf gift like Latham gave out.

[Lesion of Doom]

I can't see 50k moving the needle for midlevels being bled out for another year, especially if signing bonuses continue to be a thing.

But I do think 50k would be enticing for the 2020s who will be quitting en masse next year.

Is the idea here that 2020s will lateral to other firms to get signing bonuses, or do you also mean going in-house or leaving law altogether? Even from top corp practices I thought it is pretty tough to get a good in-house gig before you get into your third year.

We have already had some 2020s quit before finishing the first year, so I guess there may be some just hanging on to get the year-end bonus who plan to leave early next year.

Lateraling for signing bonus, dropping down to midlaw, transitioning into lit or public interest or quitting law. No 2020 in-house exits I'm aware of, other than one guy who took a job with a company his in-laws started and is now the "general counsel" according to his LinkedIn.

The 2020 class had a miserable onboarding experience due to Covid, coinciding with increasingly unreasonable clients during the WFH era. Between the two firms I've worked at this year, the 2020s are far more demoralized than we 2019s were in my personal experience. But others may be seeing something different.

[Anonymous User]

I never understand these things. Like I can maybe see you want to do Big Law long term, because of lifestyle inflation, you want to leave something for your children, etc. But I just can't imagine the bonus is worth it having like 33% more work in the form of an extra 1000 hours while you can just get a job and bill around 2000 hours, for the same pay, but just a potentially smaller bonus. It just doesn't make sense to me.

I agree in principle, but I don't think anybody does it for the bonus. In other words, the bonus isn't close to compensatory, it's more of a recognition of commitment to the firm.

I hit north of 3k last year and am pacing for >2700 this year having taken a full month off. I've never had a year below 2500. I'm sticking around because (1) this is the only firm in my city that lets me do the particular mix of tasks in my practice area that I want to do while avoiding other ones I don't (we have another group for that), (2) my group is (as evidenced by high hours) remarkably in demand at the firm, and therefore has better partnership prospects, (3) I have built up a good reputation at this firm and worry I'll fail at that elsewhere, and (4) I'll have better exit options than most other firms I would lateral to in my city. If there was a fungible group in my city I'd lateral in a heartbeat for lower hours. But since I'm stuck here for the time being, the extra bonuses over my peers working 2k/year makes me feel a little better.

P.S. an extra 1k hours is 50% more work for someone working 2k. It's only 33% of your work if you're working 3k hours.

This. Some people genuinely like the job (but maybe they don't hang out here, lol). I admit I have days when I look back on what I did and feel great about it.

Yeah, I think people don't realize that a lot of people who are at the higher seniority ranks do it because they love it. Look at acting. People like Samuel L. Jackson who seem to truly enjoy what they do. Or Christian Bale who keeps on tearing up his body for his craft. But then you also have someone like Josh Hartnett who has basically stopped his career because he was over it. And that is for something most of us think is pretty cool of a job to have. These people still choose to work and not get something easy as just hang out with their families.

That being said, I truly can't understand how someone can love doing as inane as law where generally the result is having created more money for company X by churning out documents that nobody will ever read, but that is why I'm looking for a way out of this industry.

[Anonymous User]

Read and weep:

My MF transactional practice just bought everyone Marine Layer quilted jackets ($155 value!!!!!). Not a special bonus, but also pretty quality fall gift. Latham can keep its $7 water bottles.

[Anonymous User]

Read and weep:

My MF transactional practice just bought everyone Marine Layer quilted jackets ($155 value!!!!!). Not a special bonus, but also pretty quality fall gift. Latham can keep its $7 water bottles.

What is MF transactional...mega fund?

[Anonymous User]

I never understand these things. Like I can maybe see you want to do Big Law long term, because of lifestyle inflation, you want to leave something for your children, etc. But I just can't imagine the bonus is worth it having like 33% more work in the form of an extra 1000 hours while you can just get a job and bill around 2000 hours, for the same pay, but just a potentially smaller bonus. It just doesn't make sense to me.

I agree in principle, but I don't think anybody does it for the bonus. In other words, the bonus isn't close to compensatory, it's more of a recognition of commitment to the firm.

I hit north of 3k last year and am pacing for >2700 this year having taken a full month off. I've never had a year below 2500. I'm sticking around because (1) this is the only firm in my city that lets me do the particular mix of tasks in my practice area that I want to do while avoiding other ones I don't (we have another group for that), (2) my group is (as evidenced by high hours) remarkably in demand at the firm, and therefore has better partnership prospects, (3) I have built up a good reputation at this firm and worry I'll fail at that elsewhere, and (4) I'll have better exit options than most other firms I would lateral to in my city. If there was a fungible group in my city I'd lateral in a heartbeat for lower hours. But since I'm stuck here for the time being, the extra bonuses over my peers working 2k/year makes me feel a little better.

P.S. an extra 1k hours is 50% more work for someone working 2k. It's only 33% of your work if you're working 3k hours.

This. Some people genuinely like the job (but maybe they don't hang out here, lol). I admit I have days when I look back on what I did and feel great about it.

Yeah, I think people don't realize that a lot of people who are at the higher seniority ranks do it because they love it. Look at acting. People like Samuel L. Jackson who seem to truly enjoy what they do. Or Christian Bale who keeps on tearing up his body for his craft. But then you also have someone like Josh Hartnett who has basically stopped his career because he was over it. And that is for something most of us think is pretty cool of a job to have. These people still choose to work and not get something easy as just hang out with their families.

That being said, I truly can't understand how someone can love doing as inane as law where generally the result is having created more money for company X by churning out documents that nobody will ever read, but that is why I'm looking for a way out of this industry.

This is probably a topic for a different thread but it doesn't even have to be that you "love it" it can also be that you start to just get good at it so you experience what's called "flow" as you're doing it. It's rewarding to be able to do something well based on experience and training even if you're not exactly drop-dead passionate about it, if that makes sense. I've been practicing a little over a decade now and I've noticed that feeling more in the past few years. They talk a lot about this in industrial psychology circles, i.e., that's how career path progression should feel.

[Anonymous User]

A special bonus announced this month and paid at the end of Q1 and/or Q2 in 2022 would significantly increase the likelihood I stay in biglaw for an additional 6-12 months, compared to leaving in January after receiving the expected end-of-year bonus. Anecdotally have heard the same from law school classmates and colleagues, and hoping we hear from firms soon. Corporate 4th year at V10.

Skadden midlevel who went from “planning to dip in Feb” to “planning to dip maybe in July but probably the following Feb” on the strength of Skadden’s announced June retention bonuses, and know many others who are thinking same.

[Anonymous User]

Cannot understand the Scrooge mentality of places that wouldn't pay out a year end bonus until several months into the next year; it sounds like it would be a complete mood killer for the holidays to be like "yes, I will receive my bonus around Easter." Kirkland announces bonuses mid-to-late December (usually the week before Christmas) and the money is in your bank account before New Year's Eve.

Not defending the practice, but for some it's based on the fiscal year. My V25's coincides with the calendar year, and a big chunk of the firm's cash comes in during December. The firm is (probably overly) conservative, so they pay out at the bonuses with the next paycheck following the end of the FY.

It is worse for taxes, sucks to see peers get bonuses much earlier, and screws us over if we want to lateral and get a full bonus the next year. However, I at least understand where the partners are coming from. March is objectively unreasonable, though.