2017 (Preview) Bonus Thread Forum

[Anonymous User]

Sources in the industry are expecting a slight decrease across the board due to the salary increases, but would not be surprised if Cravath tries to separate themselves from the peons of the V50-V100.

Most of the V50-V100 don't really give market bonuses anyways.

disclaimer: 2L

if this is the case, why would the higher bonuses be considered "market"?

[Tiago Splitter]

Sources in the industry are expecting a slight decrease across the board due to the salary increases, but would not be surprised if Cravath tries to separate themselves from the peons of the V50-V100.

Most of the V50-V100 don't really give market bonuses anyways.

disclaimer: 2L

if this is the case, why would the higher bonuses be considered "market"?

Because many of those firms will announce the headline number as matching Cravath but a lot of their associates won't meet the narrow requirements needed to get the full Cravath scale.

And also because we call it the Cravath scale. Whatever Cravath pays is market.

[EIWIsMyFetish]

Sources in the industry are expecting a slight decrease across the board due to the salary increases, but would not be surprised if Cravath tries to separate themselves from the peons of the V50-V100.

Most of the V50-V100 don't really give market bonuses anyways.

disclaimer: 2L

if this is the case, why would the higher bonuses be considered "market"?

Because many of those firms will announce the headline number as matching Cravath but a lot of their associates won't meet the narrow requirements needed to get the full Cravath scale.

And also because we call it the Cravath scale. Whatever Cravath pays is market.

yea i get that, I suppose I just always thought "market" was synonymous with "what most peer firms will pay" with 'peer' being exceedingly loose (extend beyond V100)

glad im learning these things now, though, instead of sounding like an idiot later.

[Monochromatic Oeuvre]

Sources in the industry are expecting a slight decrease across the board due to the salary increases, but would not be surprised if Cravath tries to separate themselves from the peons of the V50-V100.

Most of the V50-V100 don't really give market bonuses anyways.

disclaimer: 2L

if this is the case, why would the higher bonuses be considered "market"?

Because many of those firms will announce the headline number as matching Cravath but a lot of their associates won't meet the narrow requirements needed to get the full Cravath scale.

And also because we call it the Cravath scale. Whatever Cravath pays is market.

yea i get that, I suppose I just always thought "market" was synonymous with "what most peer firms will pay" with 'peer' being exceedingly loose (extend beyond V100)

glad im learning these things now, though, instead of sounding like an idiot later.

If they don't pay top of the market, they're not a peer firm.

The plurality of law firms pay entry-level associates $45k-60k, but you wouldn't call that "market," even though low-level shitlaw employs most of the lawyers in America. And why? Because you don't give a shit about those firms, in the same way I don't give a shit about Bryan Cave.

[anonnymouse]

Has anyone done the legwork on what date in November or December bonuses were first announced for the past, say, 5 years?

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).

Last year was weirdly late with the announcement not until December 7.

Thanks Tiago. Knew I had done this, was too lazy to find it.

Good to see this thread pick up a bit. Cravath better announce in two weeks lest the chorus of NOBONUS heavily affect associate morale...

[Anonymous User]

Associate morale is extraordinarily low at my firm given that we are just too damn busy and need more bodies. Deals are too leanly staffed to the point where partners keep making awkward pleas not to give up and repeatedly thanking us for running on overdrive. Also, at our recent state of the firm presentation we were told that it's been a pretty gangbusters year.

Bonuses better be YUGE.

[RaceJudicata]

Sources in the industry are expecting a slight decrease across the board due to the salary increases, but would not be surprised if Cravath tries to separate themselves from the peons of the V50-V100.

Most of the V50-V100 don't really give market bonuses anyways.

disclaimer: 2L

if this is the case, why would the higher bonuses be considered "market"?

Because many of those firms will announce the headline number as matching Cravath but a lot of their associates won't meet the narrow requirements needed to get the full Cravath scale.

And also because we call it the Cravath scale. Whatever Cravath pays is market.

yea i get that, I suppose I just always thought "market" was synonymous with "what most peer firms will pay" with 'peer' being exceedingly loose (extend beyond V100)

glad im learning these things now, though, instead of sounding like an idiot later.

Market because they set the rate (for comp and bonuses). Other firms either match, match for some folks, or don't match at all.

[Anonymous User]

Associate morale is extraordinarily low at my firm given that we are just too damn busy and need more bodies. Deals are too leanly staffed to the point where partners keep making awkward pleas not to give up and repeatedly thanking us for running on overdrive. Also, at our recent state of the firm presentation we were told that it's been a pretty gangbusters year.

Bonuses better be YUGE.

[Anonymous User]

Associate morale is extraordinarily low at my firm given that we are just too damn busy and need more bodies. Deals are too leanly staffed to the point where partners keep making awkward pleas not to give up and repeatedly thanking us for running on overdrive. Also, at our recent state of the firm presentation we were told that it's been a pretty gangbusters year.

Bonuses better be YUGE.

This sounds too familiar. I can't tell if we're at the same firm or this is just across the board. It's pretty ridiculous how lean deals are staffed, with no relief in sight. Hire some damn laterals.

[EncyclopediaOrange]

Associate morale is extraordinarily low at my firm given that we are just too damn busy and need more bodies. Deals are too leanly staffed to the point where partners keep making awkward pleas not to give up and repeatedly thanking us for running on overdrive. Also, at our recent state of the firm presentation we were told that it's been a pretty gangbusters year.

Bonuses better be YUGE.

This sounds too familiar. I can't tell if we're at the same firm or this is just across the board. It's pretty ridiculous how lean deals are staffed, with no relief in sight. Hire some damn laterals.

This seems like the beginning of a great office relationship. Please turn this into a romcom someday. Thank you.

[Abbie Doobie]

#boneus2016

[MCFC]

Bump in price of Metrocard = bump in bonus.

[anonnymouse]

Two years ago, STB kicked off the wildest bonus bonanza since Spring bonuses on the Friday before Thanksgiving.

Help us STB, you're our only hope.

[anonnymouse]

It's a real travesty that I had to go to the second page to find this thread on the Monday before Thanksgiving.

So can we start the chorus of NOBONUS yet? Or do we have to wait until next Monday?

[gaddockteeg]

very excited for this thread.

[LaLiLuLeLo]

Two years ago, STB kicked off the wildest bonus bonanza since Spring bonuses on the Friday before Thanksgiving.

Help us STB, you're our only hope.

Mm I'm down for a Cravath STB double team in 2016.

[Abbie Doobie]

It's a real travesty that I had to go to the second page to find this thread on the Monday before Thanksgiving.

So can we start the chorus of NOBONUS yet? Or do we have to wait until next Monday?

It's already been started:

#boneus2016

[anonnymouse]

It's a real travesty that I had to go to the second page to find this thread on the Monday before Thanksgiving.

So can we start the chorus of NOBONUS yet? Or do we have to wait until next Monday?

It's already been started:

#boneus2016

BONEUS and NOBONUS aren't the same though. All NOBONUSes BONEUS, but not all BONEUSes are NOBONUS.

[Abbie Doobie]

It's a real travesty that I had to go to the second page to find this thread on the Monday before Thanksgiving.

So can we start the chorus of NOBONUS yet? Or do we have to wait until next Monday?

It's already been started:

#boneus2016

BONEUS and NOBONUS aren't the same though. All NOBONUSes BONEUS, but not all BONEUSes are NOBONUS.

ah but then if BONEUS incorporates NOBONUS + other things, isn't NOBONUS implicitly invoked (albeit non-exclusively) by calling out all things falling under the BONEUS umbrella?

LSAT arguments aside, how about this:

*knock* *knock*

me: who's there?

(is NOBONUS)

me: fuck

[Monochromatic Oeuvre]

It's a real travesty that I had to go to the second page to find this thread on the Monday before Thanksgiving.

So can we start the chorus of NOBONUS yet? Or do we have to wait until next Monday?

"We are pleased to announce that the year-end bonus amount for each associate class is as follows:

....................../´¯/)
....................,/¯../
.................../..../
............./´¯/'...'/´¯¯`·¸
........../'/.../..../......./¨¯\
........('(...´...´.... ¯~/'...')
.........\.................'...../
..........''...\.......... _.·´
............\..............(
..............\.............\...

Sincerely,
Allen Parker"

[anonnymouse]

Bumping to keep this thread on page 1 so that it's easily accessible when the announcement comes out this afternoon.

Because I'd really rather not wait another week.

[Davidbentley]

Bumping to keep this thread on page 1 so that it's easily accessible when the announcement comes out this afternoon.

Because I'd really rather not wait another week.

https://www.youtube.com/watch?v=2H7Ruei3nd0

[anonnymouse]

Same as it ever was. Satisfied, I guess.

[Anonymous User]

http://abovethelaw.com/2016/11/associat ... e-bonuses/

[Biglaw Investor]

Same as last year. Makes sense to me. Cravath isn't going to hand out raises AND increase bonus compensation in the same year.