Largest Lateral Bonus Forum

[2013]

I lateraled last year as a sixth year and negotiated an 80k signing bonus. As the other posters suggest, I think you could potentially negotiate more.

The problem is that OP's questions is fundamentally idiotic. Either OP is at a good firm in an in-demand practice area and isn't going to make partner, in which case, their fact pattern is wrong and they should lateral and can get some number ranging from $75k to $200k. Or, OP is at a biglaw firm and is going to make partner, in which case, their fact pattern is correct and they would have to be the biggest idiot in biglaw to give up a massive increase in earning power over a lifetime for a $75k to $200k one-time bump. OP is thinking of this as "I can lateral, get a shitload of signing bonus and be guaranteed partnership", which is a bad assumption to make and one they haven't introduced into their facts.

FWIW, I've never heard of a star senior associate at a top firm (think at least v25) getting a top-up on comp -- if the associate is that good they don't need to demand a one-time additional $200k or whatever, they can demand something different and better.

From my reading of the fact pattern, I'm guessing OP is a top associate at a well-respected biglaw firm who is on-track to make partner, but is looking to exit biglaw/law altogether in 2-3 years regardless of how good at it they are. So they are trying to maximize their 2-3 year earnings because they are leaving without partnership either way.

That’s how I read this too. But if OP is really a star senior associate, partnership probably isn’t 2-3 years away. Even at single tier firms, star associates seem to make partner at 8 years. If OP has a few years to go, OP is probably a midlevel. This is kind of irrelevant though.

OP should probably try to go to Kirkland as a nonequity partner with a large signing bonus. I think a few nonequity partners have posted on tls that they make more than 7th and 8th years at other firms, so that would be the best bang for OP’s buck.

[lolwutpar]

I lateraled last year as a sixth year and negotiated an 80k signing bonus. As the other posters suggest, I think you could potentially negotiate more.

The problem is that OP's questions is fundamentally idiotic. Either OP is at a good firm in an in-demand practice area and isn't going to make partner, in which case, their fact pattern is wrong and they should lateral and can get some number ranging from $75k to $200k. Or, OP is at a biglaw firm and is going to make partner, in which case, their fact pattern is correct and they would have to be the biggest idiot in biglaw to give up a massive increase in earning power over a lifetime for a $75k to $200k one-time bump. OP is thinking of this as "I can lateral, get a shitload of signing bonus and be guaranteed partnership", which is a bad assumption to make and one they haven't introduced into their facts.

FWIW, I've never heard of a star senior associate at a top firm (think at least v25) getting a top-up on comp -- if the associate is that good they don't need to demand a one-time additional $200k or whatever, they can demand something different and better.

From my reading of the fact pattern, I'm guessing OP is a top associate at a well-respected biglaw firm who is on-track to make partner, but is looking to exit biglaw/law altogether in 2-3 years regardless of how good at it they are. So they are trying to maximize their 2-3 year earnings because they are leaving without partnership either way.

That’s how I read this too. But if OP is really a star senior associate, partnership probably isn’t 2-3 years away. Even at single tier firms, star associates seem to make partner at 8 years. If OP has a few years to go, OP is probably a midlevel. This is kind of irrelevant though.

OP should probably try to go to Kirkland as a nonequity partner with a large signing bonus. I think a few nonequity partners have posted on tls that they make more than 7th and 8th years at other firms, so that would be the best bang for OP’s buck.

Eh, I've been at a few firms across the Vault spectrum and it really seems like partnership has been pushed out to 10 ish years, even for star/well liked associates.

[Monochromatic Oeuvre]

I think there are only a dozen-ish firms that don't have an eight-year minimum track now.

Can tell you that at my firm in recent years, making it in 15+ years has become as common as making it in under 10.

Might be anomalous though, seeing as how, in large part, '07/'08 was shitcanned, '09 was deferred to oblivion, '10 was no-offered, and '11 was never hired.

[Anonymous User]

I think there are only a dozen-ish firms that don't have an eight-year minimum track now.

Can tell you that at my firm in recent years, making it in 15+ years has become as common as making it in under 10.

Might be anomalous though, seeing as how, in large part, '07/'08 was shitcanned, '09 was deferred to oblivion, '10 was no-offered, and '11 was never hired.

Data point: at Skadden, I think a superstar M&A associate (like, true superstar) might be able to make partner in 8 or 9 years. In M&A. But generally, and in other groups, you're looking at more like a "make counsel at year 9 or 10, and then hang out in that weird purgatory for 2-5 years, and then maybe maybe partner."

Anyway, to OPs point: I would expect that there's no real credibility given to your being a "superstar" from a lateral perspective, but that if you are in a high demand group like cap markets you can probably extract some serious serious bonus money from a lateral move. But (and I don't think you're considering this, but I think some other people mentioned), I'd be surprised if you could somehow leverage that into getting paid off at your current firm.

[Anonymous User]

I think there are only a dozen-ish firms that don't have an eight-year minimum track now.

Can tell you that at my firm in recent years, making it in 15+ years has become as common as making it in under 10.

Might be anomalous though, seeing as how, in large part, '07/'08 was shitcanned, '09 was deferred to oblivion, '10 was no-offered, and '11 was never hired.

Data point: at Skadden, I think a superstar M&A associate (like, true superstar) might be able to make partner in 8 or 9 years. In M&A. But generally, and in other groups, you're looking at more like a "make counsel at year 9 or 10, and then hang out in that weird purgatory for 2-5 years, and then maybe maybe partner."

Anyway, to OPs point: I would expect that there's no real credibility given to your being a "superstar" from a lateral perspective, but that if you are in a high demand group like cap markets you can probably extract some serious serious bonus money from a lateral move. But (and I don't think you're considering this, but I think some other people mentioned), I'd be surprised if you could somehow leverage that into getting paid off at your current firm.

Agree with your points. Curious re: Skadden tho, since i thought the new m&a partners for the past few years all had a 10-year track

[Anonymous User]

I think there are only a dozen-ish firms that don't have an eight-year minimum track now.

Can tell you that at my firm in recent years, making it in 15+ years has become as common as making it in under 10.

Might be anomalous though, seeing as how, in large part, '07/'08 was shitcanned, '09 was deferred to oblivion, '10 was no-offered, and '11 was never hired.

Data point: at Skadden, I think a superstar M&A associate (like, true superstar) might be able to make partner in 8 or 9 years. In M&A. But generally, and in other groups, you're looking at more like a "make counsel at year 9 or 10, and then hang out in that weird purgatory for 2-5 years, and then maybe maybe partner."

Anyway, to OPs point: I would expect that there's no real credibility given to your being a "superstar" from a lateral perspective, but that if you are in a high demand group like cap markets you can probably extract some serious serious bonus money from a lateral move. But (and I don't think you're considering this, but I think some other people mentioned), I'd be surprised if you could somehow leverage that into getting paid off at your current firm.

Agree with your points. Curious re: Skadden tho, since i thought the new m&a partners for the past few years all had a 10-year track

Same anon. You're absolutely right. There was one guy I thought made it as an 8th year because all the partners I talked to were always talking about how much of a young superstar he was. Just checked and I actually had his year wrong -- he was a 11th year. He skipped counsel though, and making it as a 11th year was still seen as him being fast tracked. Geeze.

[2013]

I get that some firms have long runways to partnership, but I think there are still a few V30s that have 8/9 year tracks. I always thought Ropes promoted people at around 8/9 years.

[Anonymous User]

Anyone know what the typical singing bonus is for a midlevel litigation associate lateraling to a big firm (e.g. some place like KE that is rumored to be throwing around money right now)

[Anonymous User]

Anyone know what the typical singing bonus is for a midlevel litigation associate lateraling to a big firm (e.g. some place like KE that is rumored to be throwing around money right now)

Also curious about this.

[Anonymous User]

Anyone know what the typical singing bonus is for a midlevel litigation associate lateraling to a big firm (e.g. some place like KE that is rumored to be throwing around money right now)

Also curious about this.

[Anonymous User]

Anyone know what the typical singing bonus is for a midlevel litigation associate lateraling to a big firm (e.g. some place like KE that is rumored to be throwing around money right now)

Also curious about this.

I got $20K and full end-of-year bonus when I lateraled there a few years ago.