2020 End of Year Bonuses Forum

[Anonymous User]

WilmerHale announced its 2020 bonuses today. That's on schedule for the firm, which pays bonuses in January.

As usual, there are market bonuses based on hours/performance (e.g., market for 2000-2200 hours, below-market for under 2000 hours, above-market increases at 2200 hours and then at other hour benchmarks). The firm will also pay market COVID bonuses for attorneys who billed 1900 hours (for attorneys under 1900 hours, the firm is paying 50% of the market COVID bonus).

Looks like below market is way below market - a midlevel who missed 2k but hit 19 gets 10% of the market bonus. Below 1900, no bonus. So, if you are below the threshold, you would end up making substantially more at sheppard mullin.

Seriously? 10% bonus for 1990 hours? That’s horrendous for a firm with Wilmer’s profile.

There is a billable hours requirement (2000 hours, including unlimited pro bono hours and various sources of firm hours) to earn the full bonus. That doesn't strike me as unusual.

[Anonymous User]

DLA confirmed to the associates committee there will be no bonus announcement today.

Y’all can stop refreshing and go back to billing now. Thanks-and don’t forget to finalize those time sheets.

[avenuem]

DLA confirmed to the associates committee there will be no bonus announcement today.

Y’all can stop refreshing and go back to billing now. Thanks-and don’t forget to finalize those time sheets.

What about tomorrow?

[Anonymous User]

In case anyone is wondering “what ever happened to that DLA saga? Did those poor chaps get their special bonus?”

The answer is WE STILL DONT KNOW THE BONUS AMOUNT FOR BONUSES THAT WILL SUPPOSEDLY BE PAID FRIDAY.

This is a well governed firm. I’m sure they’ll have no retention issues after this.

[Anonymous User]

DLA anon here. Firmwide email that said vaguely to check the internal firm website to check bonuses. Nope no COVID bonuses. That's all she wrote, folks.

[Anonymous User]

Another DLA anon. DLA released individual bonus information. Unofficial polling suggests there WERE special bonus bumps, but nothing market, and I think were as follows:

1-3 year: $5k

4-6 year: $7.5k

7+: $10k

There were also typical ~5k bumps for merit (4 or 5 rating) and hours (2150+).

[objctnyrhnr]

Another DLA anon. DLA released individual bonus information. Unofficial polling suggests there WERE special bonus bumps, but nothing market, and I think were as follows:

1-3 year: $5k

4-6 year: $7.5k

7+: $10k

There were also typical ~5k bumps for merit (4 or 5 rating) and hours (2150+).

Seems so weird to me that Dla did that when all their peers went with covid bonuses. For a 6th year, that’s like 30k off of market. Not insubstantial.

What’s the mood over there/what’s the consensus on why Dla was unwilling to shell out another like 10 million to maintain its market status?

[Anonymous User]

The mood is upset, at the amount and the process (some more upset by the latter - or at least pretending to be so. If we got a full match I think process is more easily forgiven).

Why did they do this? We don’t know. There’s been no transparency. The truth is DLA and it’s peer firms are nowhere near profit per partner as the firms setting these trends and it’s amazing they’ve nonetheless decided to keep up this long. Maybe DLA just sees the writing on the wall, while others are still willing to shell out to pretend they’re the same as Kirkland.

[Anonymous User]

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[Anonymous User]

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[Anonymous User]

Cadwalader announced they’re doing semi-black box special bonuses. Gossip makes it sound like the formula works so that if you hit 2200 billable in 2020 then, together with the existing 120% multiplier for going over 2200, you come out equal to a market bonus.

[VentureMBA]

When do we start hammering the table for COVID Bonus 2.0?

I know everyone at my firm is just as busy if not more busy than last year so far...