2020 End of Year Bonuses Forum

[Anonymous User]

A senior associate I know at Kirkland just billed about 400 hours in October. Waiting to seem them fuck us all over again with bonus announcements next month.

[12YrsAnAssociate]

A senior associate I know at Kirkland just billed about 400 hours in October. Waiting to seem them fuck us all over again with bonus announcements next month.

Jesus. I've billed 300 a few times. But now that I'm old even 200 is a chore.

[Lestersandy]

Where my speculators at??? Hoping for news tomorrow.

[Definitely Not North]

which firm will be the first one that didn't pay fall bonuses to come in with a scale that layers fall bonuses on top of regular bonuses?

K&E? Cadwallader????

[rokiv]

which firm will be the first one that didn't pay fall bonuses to come in with a scale that layers fall bonuses on top of regular bonuses?

K&E? Cadwallader????

Kirkland doesn’t announce bonuses until mid December, so I don’t think they’ll be the first ones.

I think it’s likely to be Cleary or some other top-tier NYC-centric firm that didn’t give fall bonuses. Not exactly a groundbreaking prediction, but it makes the most sense. Wouldn’t be surprised to see Cravath announce this today or Monday either.

[Usernameavailable]

which firm will be the first one that didn't pay fall bonuses to come in with a scale that layers fall bonuses on top of regular bonuses?

K&E? Cadwallader????

Kirkland doesn’t announce bonuses until mid December, so I don’t think they’ll be the first ones.

I think it’s likely to be Cleary or some other top-tier NYC-centric firm that didn’t give fall bonuses. Not exactly a groundbreaking prediction, but it makes the most sense. Wouldn’t be surprised to see Cravath announce this today or Monday either.

Fingers crossed that Cravath swoops in with news tomorrow to get this ball rolling...

[Definitely Not North]

iirc from previous years of this, their partners meet on mondays. so tomorrow may be the day

[JusticeSquee]

iirc from previous years of this, their partners meet on mondays. so tomorrow may be the day

Everything is moving in slow-motion thanks to COVID. I doubt we hear any major bonus announcements until after thanksgiving.

[NoLongerALurker]

I'm just happy BONEUS szn is here, at this point.

Given a week of tumbleweeds followed this post, I hereby state my regret concerning this optimism.

[cdotson2]

A senior associate I know at Kirkland just billed about 400 hours in October. Waiting to seem them fuck us all over again with bonus announcements next month.

Hyperbole? Or blantant fraud lol... I highly doubt anyone has ethically billed 400 hours in a single month before.

[viperking]

A senior associate I know at Kirkland just billed about 400 hours in October. Waiting to seem them fuck us all over again with bonus announcements next month.

Hyperbole? Or blantant fraud lol... I highly doubt anyone has ethically billed 400 hours in a single month before.

Yeah... Averaging 13 hours a day working all 31 days of the month is simply unbelievable.

[Anonymous User]

A senior associate I know at Kirkland just billed about 400 hours in October. Waiting to seem them fuck us all over again with bonus announcements next month.

Hyperbole? Or blantant fraud lol... I highly doubt anyone has ethically billed 400 hours in a single month before.

Yeah... Averaging 13 hours a day working all 31 days of the month is simply unbelievable.

Agreed that questioning the veracity of the account is unnecessary. But, tbf 400 hours in a month is an outlier among outliers. Not sure I’ve ever heard somebody claim to have worked that much in a month before.

Regardless, we want to talk about bonuses here, not whether so and so billed a million hours this year. Let’s go Cravath, show us the money today!

[Anonymous User]

I’m at KE and while I’ve never gone over 350 (been close a few times this year) I know for a fact a few associates have had legit 400 hour months this year. It’s hard to express what a painful year this has been for anyone connected to restructuring, even worse for debt finance and cap m because they don’t get easy hours from just one or two big deals, instead they get jerked around on 5+ active and all consuming matters. I can tell you with a straight face that averaging 12-13 hour days without weekends off has been the reality for some around here.

[JusticeSquee]

A senior associate I know at Kirkland just billed about 400 hours in October. Waiting to seem them fuck us all over again with bonus announcements next month.

Hyperbole? Or blantant fraud lol... I highly doubt anyone has ethically billed 400 hours in a single month before.

400-hour month is most likely a trial or multiple deals closing where the associate is likely the point person for the matter and is working for some hyper-demanding partners. It is possible, although this person should probably take a break or look for the exit.

[viperking]

I’m at KE and while I’ve never gone over 350 (been close a few times this year) I know for a fact a few associates have had legit 400 hour months this year. It’s hard to express what a painful year this has been for anyone connected to restructuring, even worse for debt finance and cap m because they don’t get easy hours from just one or two big deals, instead they get jerked around on 5+ active and all consuming matters. I can tell you with a straight face that averaging 12-13 hour days without weekends off has been the reality for some around here.

Damn, that is so tough. These poor folks. Guess I better strap in.

[Anonymous User]

I’m at KE and while I’ve never gone over 350 (been close a few times this year) I know for a fact a few associates have had legit 400 hour months this year. It’s hard to express what a painful year this has been for anyone connected to restructuring, even worse for debt finance and cap m because they don’t get easy hours from just one or two big deals, instead they get jerked around on 5+ active and all consuming matters. I can tell you with a straight face that averaging 12-13 hour days without weekends off has been the reality for some around here.

Damn, that is so tough. These poor folks. Guess I better strap in.

JFC. I was looking at K&E to lateral from my current deft finance practice that I think is understaffed to a fault (lots of consecutive 250-300 hour months and multiple years at ~2500, makes it impossible to do good work at that pace after a while). Maybe not anymore...

[Definitely Not North]

ok looks like nothing today

[rokiv]

ok looks like nothing today

I guess nobody feels like they need to get out of bed for Baker these days.

[Anonymous User]

Kirkland peeps, from someone thinking about lateraling: do the bigger bonuses make up for the 350-hour months? It strikes me that it would take Wachtell money for 350 hours not to be absolutely painful.

[Definitely Not North]

my least favorite part about this time of year is that i have to look at the stock image clickbait trash they pump out on ATL

[Anonymous User]

Kirkland peeps, from someone thinking about lateraling: do the bigger bonuses make up for the 350-hour months? It strikes me that it would take Wachtell money for 350 hours not to be absolutely painful.

no

[JusticeSquee]

Kirkland peeps, from someone thinking about lateraling: do the bigger bonuses make up for the 350-hour months? It strikes me that it would take Wachtell money for 350 hours not to be absolutely painful.

no

no

[rokiv]

Anybody think there is cause for concern that bonus announcements are lagging last year?

Here’s hoping for news today, although Tuesday seems to be an unlikely day for an announcement.

[LawyerEsq]

Anybody think there is cause for concern that bonus announcements are lagging last year?

Here’s hoping for news today, although Tuesday seems to be an unlikely day for an announcement.

I wouldn't be too concerned. Cravath is the traditional first mover. They announced on November 27 in 2017 (https://abovethelaw.com/2017/11/associa ... e-bonuses/) and on November 19 in 2018 (https://abovethelaw.com/2018/11/breakin ... l-bonuses/). Although they announced on November 11 last year (https://abovethelaw.com/2019/11/cravath ... lly-begin/), that was only because Milbank jumped the gun by announcing on November 7. Since Milbank already made their statement this year by being one of the first to announce fall bonuses, they have no incentive to be the first to announce year end bonuses. I'd expect Cravath to get the ball rolling this week or next based on historical precedent.

[Anonymous User]

Question - if you give notice before bonuses are officially paid out, but it gets paid out during your notice period and before your last day, you still get it, right?

If it gets paid out after you leave, but you leave after it gets announced, you get nada?

Does this depend on firm practice?