2021 Special Bonuses Forum

[Anonymous User]

This is a bad take IMO. A day or two or three delay vs. the first mover is fine--we all understand there's some administrative process to this. But everyone talks these days; we all have friends at other firms. It's lousy to be at a firm that's dragging its heels while all your friends are reporting that they're getting bonus memos; it makes you feel like your firm doesn't particularly care one way or the other about its associates. There's also a practical element to it which is I know from talking with my friends that we are all distracted while we're waiting for this to play out. I'm not saying work grinds to a halt but there's definitely an element of that.

Is it the worst offense a firm could commit to take an extra week or two to match? No. There are worse things in biglaw. Is it shitty and does it make the associates at that firm feel lesser than? Yes. If you're a market-paying firm, follow the market, swiftly and confidently.

Imagine trying to explain to the man off the street that even though you'll be receiving the exact same bonus at the same time as all your peers, you're upset because your firm took an extra week or two to announce it.

Does it not embarrass you to feel this way? You're basically admitting that you only care because you don't want to be seen as less preftigious than your peers.

This is like a perfect distillation of the keeping-up-with-the-Joneses neurosis, except it's somehow even dumber than being miffed over your neighbor having a nicer lawnmower than you. It's more like: you have an identical lawnmower in the mail, but you're upset because your neighbor got his a week earlier.

lol the man on the street hasn't billed 140 hours in the last two weeks including two all-nighters. I don't get your cuck mentality. This has nothing to do with prestige. This is about money, the same as it is for partners if they're being honest. Supposed peer firms are announcing. Make your announcement. Give it to us, now, and we'll go back to billing for you.

It's explicitly not about money. You're getting the same money at the same time as everyone else; it just hasn't been announced yet. If a firm doesn't match, or imposes some obscene requirement, that is an entirely different matter.

It's purely about your absurdly fragile ego. You said it yourself - it makes you (vis a vis your firm) feel "lesser than."

It's explicitly about money and if I suggested otherwise than take that out of the prior post because it has nothing to do with my perception of prestige. If we're at peer firms we should be compensated with our peers. This is a financial incentive thing, that's it. Stop being an apologist for bad biglaw management.

[Anonymous User]

So what’s the total all in now for a first year, assuming firms matched the fall bonus and the new DPW one?

217k if you get all bonuses.

[Anonymous User]

.

[Anonymous User]

So what’s the total all in now for a first year, assuming firms matched the fall bonus and the new DPW one?

217k if you get all bonuses.

That includes standard year end bonus as well?

[Anonymous User]

I'm calling it now, I think Kirkland will come over the top in some way.

I have no inside knowledge on this whatsoever, I'm just basing this on Kirkland's past maneuvering and where it's currently situated.

Would be a good business move. I actually think Kirkland should move to $210k starting. That would truly meaningfully push them over peer firms and make me want to go there over another V10.

[Anonymous User]

I'm calling it now, I think Kirkland will come over the top in some way.

I have no inside knowledge on this whatsoever, I'm just basing this on Kirkland's past maneuvering and where it's currently situated.

If by over the top you mean they’re not going to do it, I agree.

[Anonymous User]

I'm calling it now, I think Kirkland will come over the top in some way.

I have no inside knowledge on this whatsoever, I'm just basing this on Kirkland's past maneuvering and where it's currently situated.

If by over the top you mean they’re not going to do it, I agree.

I couldn’t roll my eyes harder at this. They’ll do it, and probably soon. I would guess tonight after business hours.

[Anonymous User]

In the last 6+ years Kirkland have never come over the top. They take their time and match, with any extra going towards the individualised bonuses at the end of year. Source: 6+ years at Kirkland.

[2013]

I'm calling it now, I think Kirkland will come over the top in some way.

I have no inside knowledge on this whatsoever, I'm just basing this on Kirkland's past maneuvering and where it's currently situated.

Would be a good business move. I actually think Kirkland should move to $210k starting. That would truly meaningfully push them over peer firms and make me want to go there over another V10.

Your statement assumes peer firms wouldn’t match...

[lolwutpar]

Willkie just matched the DPW bonus scale. See below.

Class of 2020: $12,000
Class of 2019: $16,000
Class of 2018: $32,000
Class of 2017: $44,000
Class of 2016: $52,000
Class of 2015: $59,200
Class of 2014 and senior: $64,000


Half of the bonus amount will be paid on June 30, 2021. The second half will be paid on September 30, 2021. Bonuses will be paid to those employed and in good standing on the payment dates consistent with our customary practices. We expect to pay our regular year-end bonuses in December.

Great news. Here's to hoping 50/50 is the norm now.

[Anonymous User]

still calling no KE match (and that they don't come over the top).

[ExpOriental]

This is a bad take IMO. A day or two or three delay vs. the first mover is fine--we all understand there's some administrative process to this. But everyone talks these days; we all have friends at other firms. It's lousy to be at a firm that's dragging its heels while all your friends are reporting that they're getting bonus memos; it makes you feel like your firm doesn't particularly care one way or the other about its associates. There's also a practical element to it which is I know from talking with my friends that we are all distracted while we're waiting for this to play out. I'm not saying work grinds to a halt but there's definitely an element of that.

Is it the worst offense a firm could commit to take an extra week or two to match? No. There are worse things in biglaw. Is it shitty and does it make the associates at that firm feel lesser than? Yes. If you're a market-paying firm, follow the market, swiftly and confidently.

Imagine trying to explain to the man off the street that even though you'll be receiving the exact same bonus at the same time as all your peers, you're upset because your firm took an extra week or two to announce it.

Does it not embarrass you to feel this way? You're basically admitting that you only care because you don't want to be seen as less preftigious than your peers.

This is like a perfect distillation of the keeping-up-with-the-Joneses neurosis, except it's somehow even dumber than being miffed over your neighbor having a nicer lawnmower than you. It's more like: you have an identical lawnmower in the mail, but you're upset because your neighbor got his a week earlier.

lol the man on the street hasn't billed 140 hours in the last two weeks including two all-nighters. I don't get your cuck mentality. This has nothing to do with prestige. This is about money, the same as it is for partners if they're being honest. Supposed peer firms are announcing. Make your announcement. Give it to us, now, and we'll go back to billing for you.

It's explicitly not about money. You're getting the same money at the same time as everyone else; it just hasn't been announced yet. If a firm doesn't match, or imposes some obscene requirement, that is an entirely different matter.

It's purely about your absurdly fragile ego. You said it yourself - it makes you (vis a vis your firm) feel "lesser than."

It's explicitly about money and if I suggested otherwise than take that out of the prior post because it has nothing to do with my perception of prestige. If we're at peer firms we should be compensated with our peers. This is a financial incentive thing, that's it. Stop being an apologist for bad biglaw management.

No. You're blatantly trying to backpedal and alter the factual assumptions that underpinned the prior exchange. The variable we discussed is not whether your firm would match, it's the length of time before your firm announced the match. The former has a financial impact; the latter is purely emotional. Whether the bonus is announced now or in two weeks has exactly zero financial relevance. None.

You explicitly mentioned "feeling lesser than." You did not "suggest otherwise," you literally said it yourself.

The accusation that I'm engaging in apologism is too thin to warrant a response.

[ExpOriental]

still calling no KE match (and that they don't come over the top).

I'm assuming this is some kind of weird troll job, but I'd love to hear the reasoning here.

[Anonymous User]

Hueston Hennigan match.

[Anonymous User]

Associate comp using the DPW Special Bonus Scale (officially so named unless another firm comes over the top to reset it)

Salary + year-end + special = total
2020: 190 + 15 + 12 = $217,000
2019: 200 + 25 + 16 = $241,000
2018: 220 + 50 + 32 = $302,000
2017: 255 + 65 + 44 = $364,000
2016: 280 + 80 + 52 = $412,000
2015: 305 + 90 + 59.2 = $454,200
2014: 325 + 100 + 64 = $489,000

The new market.

Bumping in response to post asking for all in comp.

[Anonymous User]

Cooley match. June 30, $12k / September 30 20k split.

[Anonymous User]

still calling no KE match (and that they don't come over the top).

I'm assuming this is some kind of weird troll job, but I'd love to hear the reasoning here.

Because they (unlike every other firm this year with the exception of Debevoise) don’t have to pay extra to retain people. In all seriousness, you would still be better off working for $0 for your first 1-2 years at KE than working for market at any other V10.

[Anonymous User]

Cooley match. June 30, $12k / September 30 20k split.

Cooley matched market across class years (in case this post raises any confusion). And you can make up for not hitting the first milestone (end of May) if you hit the second at the end of August (on track for 1950 hours, which is our bonus eligibility threshold).

[Mnb88]

Insane and terrible take. I work at Kirkland, it isn't that cool.

[Anonymous User]

still calling no KE match (and that they don't come over the top).

I'm assuming this is some kind of weird troll job, but I'd love to hear the reasoning here.

Because they (unlike every other firm this year with the exception of Debevoise) don’t have to pay extra to retain people. In all seriousness, you would still be better off working for $0 for your first 1-2 years at KE than working for market at any other V10.

Found the Kirkland partner

[Anonymous User]

still calling no KE match (and that they don't come over the top).

I'm assuming this is some kind of weird troll job, but I'd love to hear the reasoning here.

Because they (unlike every other firm this year with the exception of Debevoise) don’t have to pay extra to retain people. In all seriousness, you would still be better off working for $0 for your first 1-2 years at KE than working for market at any other V10.

I'm a senior assoc. at K&E in a busy group, and this is such a bad take (assuming it's genuine). This isn't about retaining first/second years, it's about retaining mids and seniors, who most certainly will leave the firm if they don't match (and have opportunity to do so).

[ExpOriental]

still calling no KE match (and that they don't come over the top).

I'm assuming this is some kind of weird troll job, but I'd love to hear the reasoning here.

Because they (unlike every other firm this year with the exception of Debevoise) don’t have to pay extra to retain people. In all seriousness, you would still be better off working for $0 for your first 1-2 years at KE than working for market at any other V10.

Weird troll job confirmed, thanks

The dedication to the Debevoise bit is almost admirable though, you've really kept that one going longer than any rational person would attempt for something so unfunny.

[lolwutpar]

Trolling should be good/funny. Very much missed the mark.

[Anonymous User]

Folks...don't feed the troll. Carry on.

[motojir]

Any firm that ultimately matches, but chooses to do so after the weekend is making a big mistake. You're needlessly ruining your associates' weekend. If I were a recruiters I would spend this weekend mass-contacting associates at any super-rich firm that doesn't match by end of day.