EOY Bonuses Forum

[Anonymous User]

How much were the discretionary bonuses paid by Paul Weiss?

Friends got 10-60 per 6 months based on how busy they were. Scale is black box though. You just get a call one day.

[Anonymous User]

How much were the discretionary bonuses paid by Paul Weiss?

Friends got 10-60 per 6 months based on how busy they were. Scale is black box though. You just get a call one day.

Any idea what the hours thresholds were, generally?

[Anonymous User]

Don’t most firms in the V20 or V30 (for lack of a better way to refer to firms here) have an hours requirement for bonuses?

At my V20 there is one. I thought the no-hours req. was the exception rather than the rule

Edit: whoops meant to quote the post a few back discussing peer firms

[Monochromatic Oeuvre]

Don’t most firms in the V20 or V30 (for lack of a better way to refer to firms here) have an hours requirement for bonuses?

At my V20 there is one. I thought the no-hours req. was the exception rather than the rule

Edit: whoops meant to quote the post a few back discussing peer firms

No, but only about 15 large firms are no-requirement now. They are slowly disappearing out of the Skaddens, Gibsons and Lathams of the world.

[Anonymous User]

Hello, this is “levfin and cap markets are down, bonuses likely to be flat”-guy from earlier in the year.

Got some powerball #s and pulled stocks out in march, will answer qs for a bit.

[Anonymous User]

Don’t most firms in the V20 or V30 (for lack of a better way to refer to firms here) have an hours requirement for bonuses?

At my V20 there is one. I thought the no-hours req. was the exception rather than the rule

Edit: whoops meant to quote the post a few back discussing peer firms

No, but only about 15 large firms are no-requirement now. They are slowly disappearing out of the Skaddens, Gibsons and Lathams of the world.

Gibson has a 1950 hours requirement for non-NY offices. Half bonus if you miss (although if you're close they'll give you full bonus). Black-box bumps if you bill a high amount (like 2300+).

NY office has no hours requirement, but also no bump in bonuses.

[Anonymous User]

Hello, this is “levfin and cap markets are down, bonuses likely to be flat”-guy from earlier in the year.

Got some powerball #s and pulled stocks out in march, will answer qs for a bit.

70% of people surveyed in the ATL poll predicted exactly this result so settle down, Nostradamus.

https://abovethelaw.com/2022/10/after-l ... us-season/

[Anonymous User]

Don’t most firms in the V20 or V30 (for lack of a better way to refer to firms here) have an hours requirement for bonuses?

At my V20 there is one. I thought the no-hours req. was the exception rather than the rule

Edit: whoops meant to quote the post a few back discussing peer firms

No, but only about 15 large firms are no-requirement now. They are slowly disappearing out of the Skaddens, Gibsons and Lathams of the world.

Gibson has a 1950 hours requirement for non-NY offices. Half bonus if you miss (although if you're close they'll give you full bonus). Black-box bumps if you bill a high amount (like 2300+).

NY office has no hours requirement, but also no bump in bonuses.

STB does not have one and apparently avg hours is like 1950 ish.

[Anonymous User]

Don’t most firms in the V20 or V30 (for lack of a better way to refer to firms here) have an hours requirement for bonuses?

At my V20 there is one. I thought the no-hours req. was the exception rather than the rule

Edit: whoops meant to quote the post a few back discussing peer firms

No, but only about 15 large firms are no-requirement now. They are slowly disappearing out of the Skaddens, Gibsons and Lathams of the world.

Gibson has a 1950 hours requirement for non-NY offices. Half bonus if you miss (although if you're close they'll give you full bonus). Black-box bumps if you bill a high amount (like 2300+).

NY office has no hours requirement, but also no bump in bonuses.

STB does not have one and apparently avg hours is like 1950 ish.

Stb won’t save us.

[Anonymous User]

Don’t most firms in the V20 or V30 (for lack of a better way to refer to firms here) have an hours requirement for bonuses?

At my V20 there is one. I thought the no-hours req. was the exception rather than the rule

Edit: whoops meant to quote the post a few back discussing peer firms

No, but only about 15 large firms are no-requirement now. They are slowly disappearing out of the Skaddens, Gibsons and Lathams of the world.

Gibson has a 1950 hours requirement for non-NY offices. Half bonus if you miss (although if you're close they'll give you full bonus). Black-box bumps if you bill a high amount (like 2300+).

NY office has no hours requirement, but also no bump in bonuses.

STB does not have one and apparently avg hours is like 1950 ish.

Stb won’t save us.

That’s right because they just matched baker.

[Anonymous User]

What is up with Above the Law's borderline sycophantic celebration of law firms matching the Baker scale this year? The total comp is lower overall than last year, but based on the tone of those articles you would think law firms were going all out.

[Anonymous User]

What is up with Above the Law's borderline sycophantic celebration of law firms matching the Baker scale this year? The total comp is lower overall than last year, but based on the tone of those articles you would think law firms were going all out.

Somewhat discussed up-thread already. Genuine debate between ATL is simply fucking clueless now and really doesn't understand industry comp. situation anymore vs. their one remaining source these days is law firm PR departments and so they're doing their duty.

[Lesion of Doom]

What is up with Above the Law's borderline sycophantic celebration of law firms matching the Baker scale this year? The total comp is lower overall than last year, but based on the tone of those articles you would think law firms were going all out.

Somewhat discussed up-thread already. Genuine debate between ATL is simply fucking clueless now and really doesn't understand industry comp. situation anymore vs. their one remaining source these days is law firm PR departments and so they're doing their duty.

I think the former. The writers clearly don't understand that bonuses are an integral part of compensation and that in the minds of associates they are critical to retention. Even amid the present economic uncertainty.

[Anonymous User]

What is up with Above the Law's borderline sycophantic celebration of law firms matching the Baker scale this year? The total comp is lower overall than last year, but based on the tone of those articles you would think law firms were going all out.

Somewhat discussed up-thread already. Genuine debate between ATL is simply fucking clueless now and really doesn't understand industry comp. situation anymore vs. their one remaining source these days is law firm PR departments and so they're doing their duty.

I think the former. The writers clearly don't understand that bonuses are an integral part of compensation and that in the minds of associates they are critical to retention. Even amid the present economic uncertainty.

In a way that's the sadder option because it says ATL's gone full circle from *the* insider source to a total outsider on the industry. But it wouldn't surprise me. What "contacts" do they have? The remaining staff is a bunch of scrubs.

[Anonymous User]

Don’t most firms in the V20 or V30 (for lack of a better way to refer to firms here) have an hours requirement for bonuses?

At my V20 there is one. I thought the no-hours req. was the exception rather than the rule

Edit: whoops meant to quote the post a few back discussing peer firms

No, but only about 15 large firms are no-requirement now. They are slowly disappearing out of the Skaddens, Gibsons and Lathams of the world.

Gibson has a 1950 hours requirement for non-NY offices. Half bonus if you miss (although if you're close they'll give you full bonus). Black-box bumps if you bill a high amount (like 2300+).

NY office has no hours requirement, but also no bump in bonuses.

Former associate at Latham - this was true for Latham NY as well. Generally understood that there was no hours requirement for NY, and that the 1900 hour requirement was largely applied to offices that generally tend to be a little less busy / have lower COL.

[Anonymous User]

Don’t most firms in the V20 or V30 (for lack of a better way to refer to firms here) have an hours requirement for bonuses?

At my V20 there is one. I thought the no-hours req. was the exception rather than the rule

Edit: whoops meant to quote the post a few back discussing peer firms

No, but only about 15 large firms are no-requirement now. They are slowly disappearing out of the Skaddens, Gibsons and Lathams of the world.

Gibson has a 1950 hours requirement for non-NY offices. Half bonus if you miss (although if you're close they'll give you full bonus). Black-box bumps if you bill a high amount (like 2300+).

NY office has no hours requirement, but also no bump in bonuses.

With the Friday email from GDC's managing partner noting the bonus scale, I wonder if they are silently getting rid of the black-box bumps.

[ChickenSalad]

What is up with Above the Law's borderline sycophantic celebration of law firms matching the Baker scale this year? The total comp is lower overall than last year, but based on the tone of those articles you would think law firms were going all out.

Somewhat discussed up-thread already. Genuine debate between ATL is simply fucking clueless now and really doesn't understand industry comp. situation anymore vs. their one remaining source these days is law firm PR departments and so they're doing their duty.

I think the former. The writers clearly don't understand that bonuses are an integral part of compensation and that in the minds of associates they are critical to retention. Even amid the present economic uncertainty.

In a way that's the sadder option because it says ATL's gone full circle from *the* insider source to a total outsider on the industry. But it wouldn't surprise me. What "contacts" do they have? The remaining staff is a bunch of scrubs.

I’m more cynical. As far as I can tell, they have these bonus “announcements” for clicks and ad revenue. Biglaw associates everywhere read new announcements and following bonus “news” hoping to find if some firm has increased the scale.

And the articles pass it off as great news because a large bonus is always positive, (even if the bonus is flat from last year despite rising inflation).

The ATL writers know the scale hasn’t moved. They’re the same ones that write these “articles/announcements” every year

[b1234567]

Can Cooley announce bonuses in the next few weeks or would it look too bad after the RIF?

[Anonymous User]

Can Cooley announce bonuses in the next few weeks or would it look too bad after the RIF?

lol

[Monochromatic Oeuvre]

Can Cooley announce bonuses in the next few weeks or would it look too bad after the RIF?

lol

Are people not actually expecting them to match in short order? Because if you want to cut payroll, layoffs of your disfavored* associates are a way more effective way of doing than fucking anyone you actually like on a bonus. You’d lose way more than 10% of associates, and this time you wouldn’t get to pick which ones.





*This does not imply anyone fired from Cooley was bad and I was told at least some were meeting their hours; it implies that for whatever reason, they didn’t want them around anymore.

[Anonymous User]

When does Cooley's bonuses pay out? Because I would be absolutely livid if I met hours and was fired a few weeks before my bonus and they did not pay out.

[Anonymous User]

When does Cooley's bonuses pay out? Because I would be absolutely livid if I met hours and was fired a few weeks before my bonus and they did not pay out.

Are we to take it from this that if you were fired and you hadn't met your hours - perhaps through no fault of your own - your lividness would be qualified? Or would you be delighted?

[Monochromatic Oeuvre]

When does Cooley's bonuses pay out? Because I would be absolutely livid if I met hours and was fired a few weeks before my bonus and they did not pay out.

By definition, someone who got fired isn’t in good standing, so no, I don’t think any of them are getting a dime (except for severance).

[Anonymous User]

I'm in-house at a tech company now and I thought our engineers were insanely entitled, but "pissed off that I didn't get a bonus that paid out after I was fired" beats that.

[Anonymous User]

Anon from the above, and frankly surprised at the responses. If you're at a firm that requires a minimum billable hour threshold for bonuses, you meet that threshold, and then the firm lays you off a few weeks before the bonus was due to be paid and doesn't pay you out, sorry that feels gross to me, especially since Cooley is absolutely going to pay out bonuses to other associates. If there are a true performance issues, sure, but if your only flaw is you are in cap markets and they think cap markets is going to be slow for the next 12-18 months, I don't like that. You made the firm a lot of money meeting that billable hour threshold.