Fall bonuses Forum

[rokiv]

At a V20 that has not said anything and I've started to lose hope.

So dramatic! In all seriousness, this has been par for the course on comp issues for the last few years. Firms are taking their time, and I assume hope to minimize media hysteria. Firms like Cravath, Skadden, and Cleary have to match. It will happen sooner or later.

[Anonymous User]

shearman matched the dpw scale.

[Anonymous User]

shearman matched the dpw scale.

Shearman?! Woah

[Anonymous User]

Wow that is interesting considering we still have no word from some of the heavy hitters (Cravath/LW/Skadden). I have to say I'm confused about Shearman, seems like their vault ranking is pretty low considering they seem to always be competitive on associates' pay and their M&A and CM groups are well regarded/involved in complex deals, does anyone have any insight into it? I also don't hear anything awful about them reputation-wise like CWT. Is it just blowback still from the Great Recession?

[Anonymous User]

shearman matched the dpw scale.

It does not look like they guaranteed Dec. 2020 bonuses though. Still, they are doing better than K&E.

[alawyer2018]

shearman matched the dpw scale.

It does not look like they guaranteed Dec. 2020 bonuses though. Still, they are doing better than K&E.

I wouldn't read too much into that. By paying out a special fall bonus, I'd feel very confident betting they'll match the standard year-end bonus, too.

[Anonymous User]

shearman matched the dpw scale.

Shearman in my V10 now

[parkslope]

shearman matched the dpw scale.

Shearman in my V10 now

The key shift we need is for the big, profitable non-NY-based firms like Gibson Dunn and Sidley to match. Then the bonuses are not just a New York thing.

[DoveBodyWash]

I'm starting to think CSM will just include the fall amount in the year-end...It's basically October and i think they normally announce the annual bonus in November

[TigerIsBack]

I'm starting to think CSM will just include the fall amount in the year-end...It's basically October and i think they normally announce the annual bonus in November

I hope not. I thought they usually announce around Thanksgiving, which is basically 2 months away.

[Anonymous User]

Akin Gump has a firmwide associate town hall in an hour. I think it was scheduled before fall bonuses were a thing, but I have to assume they will be addressed and hopefully not side-stepped.

[TigerIsBack]

Akin Gump has a firmwide associate town hall in an hour. I think it was scheduled before fall bonuses were a thing, but I have to assume they will be addressed and hopefully not side-stepped.

Please report back!

[Anonymous User]

Boies Schiller also has an upcoming meeting held by the managing partners for all associates. Not sure if they will discuss fall bonuses, though there is not much optimism that the firm is able or willing to give fall bonuses. (Or, they will award them but just deduct them from year-end bonus, unlike these other firms where the fall bonus is not an advance on year-end bonus).

[nealric]

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[Miss-Bubbled]

Assuming nothing came out of Akin’s town hall?

[Anonymous User]

Sidley’s M&A/PE group had a call today (scheduled months ago). At the end, one of the heads of the group mentioned the Fall bonuses as something that “some Wall Street firms” have been doing. He said that no decision w/r/t bonuses have been made yet but that while the decision is above his pay grade, he fully expects Sidley to continue to pay market comp. So my takeaway is that Sidley is not going to match while it is still mostly NY-based V10s, but likely would if firms like Latham, Gibson, Ropes, etc. match.

Anon because my post history combined with being in this Sidley group would make me easy to identify.

[Anonymous User]

Assuming nothing came out of Akin’s town hall?

Right, the reason being that only 10 AmLaw50 made some sort of movements, but will keep monitoring the market. Did not talk about regular year end bonus.

[12YrsAnAssociate]

Assuming nothing came out of Akin’s town hall?

Right, the reason being that only 10 AmLaw50 made some sort of movements, but will keep monitoring the market. Did not talk about regular year end bonus.

Pretty standard for Akin. Generally matches, but takes its sweet time.

[Anonymous User]

Not a surprise in any sense, but Arnold & Porter is not paying any fall bonus. The firm avoided the question entirely at an associates’ meeting today, only mentioning in the final minutes that year-end requirements for annual bonus will not change, after boring everyone with a 45-minute snoozefest about an alumni LinkedIn page Marketing made. Management conveniently was unable to take questions. Notably absent from this meeting as opposed to earlier ones were statements about just how great the firm is doing financially.

[legalpotato]

Not a surprise in any sense, but Arnold & Porter is not paying any fall bonus. The firm avoided the question entirely at an associates’ meeting today, only mentioning in the final minutes that year-end requirements for annual bonus will not change, after boring everyone with a 45-minute snoozefest about an alumni LinkedIn page Marketing made. Management conveniently was unable to take questions. Notably absent from this meeting as opposed to earlier ones were statements about just how great the firm is doing financially.

lol the wheats / tares being separated surprisingly well with the fall bonus news. Kinda surprised how many firms are deciding to be tares.

[NoLongerALurker]

Not a surprise in any sense, but Arnold & Porter is not paying any fall bonus. The firm avoided the question entirely at an associates’ meeting today, only mentioning in the final minutes that year-end requirements for annual bonus will not change, after boring everyone with a 45-minute snoozefest about an alumni LinkedIn page Marketing made. Management conveniently was unable to take questions. Notably absent from this meeting as opposed to earlier ones were statements about just how great the firm is doing financially.

Freshfields gets a lot of flack for sounding like a grocery store, but now feels like the right time to point out that A&P is literally a major grocery chain in Canada.

[SGTslaughter]

Not a surprise in any sense, but Arnold & Porter is not paying any fall bonus. The firm avoided the question entirely at an associates’ meeting today, only mentioning in the final minutes that year-end requirements for annual bonus will not change, after boring everyone with a 45-minute snoozefest about an alumni LinkedIn page Marketing made. Management conveniently was unable to take questions. Notably absent from this meeting as opposed to earlier ones were statements about just how great the firm is doing financially.

Freshfields gets a lot of flack for sounding like a grocery store, but now feels like the right time to point out that A&P is literally a major grocery chain in Canada.

Meanwhile, Kirkland brand is holding it down in case you have a Costco membership.

[Anonymous User]

Cravath confirmed no bonus.

[jrthor10]

Cravath confirmed no bonus.

Please explain.

[MurdockLLP2]

Sent a memo to all lawyers letting them that bonuses will be announced in Q4 "in accordance with [their] customary timing."