2021 Special Bonuses Forum

[Anonymous User]

Im a corporate associate at a mid market amlaw 100 in the Rockies. Fourth year at $165k (after a $5k raise for 2021 salary) and got a $25k end of year bonus last year. No special bonuses ever as firm does not compete on cravath scale and is aggressively conservative in its secondary markets.

Thoughts on making the move? I don’t want to leave for just the money but seems like it’s a good time to do it and can command bigger signing bonus etc. and maybe get a bite of the covid cash rather than at the end of the year.

How many hours do you bill per year usually?

[smile0751]

Ugh once again with the KE crap... and lol at people who have some personal loyalty/identity wrapped up in their firms to argue over stupid stuff like this

Back to bonuses, how are people in the V40-100 feeling? At one of them in Chi/TX/LA and no news yet

I'm technically at a V40 - Hogan Lovells - but not feeling great because Hogan decided last year to abandon any pretense of being a top firm in favor of being cheap. And I'm assuming you're in Texas, because LA (and probably Chicago) is definitely gonna match Spring Bonuses.

Not so sure about DC though. I've spoken with people at Covington, and they think it's unlikely CB will hop on board with Spring Bonuses. And if Covington doesn't pay, zero chance Hogan does.

I’m not as pessimistic about it moving down the chain. I think Ropes will have to match Goodwin in Boston. That will force Wilmer to match in Boston (and probably DC too), which will then force other DC-centric firms to match (Covington, Hogan Lovells, etc.).

I think the tech firms all matching helps the bonus trickle down to other firms who see themselves as “peers” of Goodwin, Fenwick, Cooley, and other firms.

Ropes matched on Friday. Pay out end of April/December.

[Anonymous User]

Ugh once again with the KE crap... and lol at people who have some personal loyalty/identity wrapped up in their firms to argue over stupid stuff like this

Back to bonuses, how are people in the V40-100 feeling? At one of them in Chi/TX/LA and no news yet

I'm technically at a V40 - Hogan Lovells - but not feeling great because Hogan decided last year to abandon any pretense of being a top firm in favor of being cheap. And I'm assuming you're in Texas, because LA (and probably Chicago) is definitely gonna match Spring Bonuses.

Not so sure about DC though. I've spoken with people at Covington, and they think it's unlikely CB will hop on board with Spring Bonuses. And if Covington doesn't pay, zero chance Hogan does.

I’m not as pessimistic about it moving down the chain. I think Ropes will have to match Goodwin in Boston. That will force Wilmer to match in Boston (and probably DC too), which will then force other DC-centric firms to match (Covington, Hogan Lovells, etc.).

I think the tech firms all matching helps the bonus trickle down to other firms who see themselves as “peers” of Goodwin, Fenwick, Cooley, and other firms.

Ropes matched on Friday. Pay out end of April/December.

Wilmer has to match now given Ropes and Goodwin have, right?

[objctnyrhnr]

Still can’t comprehend how Jones Day maintains its vault rank while never going near any of this stuff.

[Anonymous User]

Still can’t comprehend how Jones Day maintains its vault rank while never going near any of this stuff.

As a JD associate, it is infuriating. I’m in a secondary market so don’t have other good options to get paid more. If I was in a market-paying city I would have been gone long ago.

[Anonymous User]

Latham just matched the market.

[Anonymous User]

Latham match. I think it's May/October with an hours requirement (if I'm remembering right). Here's to some movement this week!

[Anonymous User]

Latham match. I think it's May/October with an hours requirement (if I'm remembering right). Here's to some movement this week!

May/October is annoying, as is not doing equal pay outs. I want my April/September money!

[Anonymous User]

Im a corporate associate at a mid market amlaw 100 in the Rockies. Fourth year at $165k (after a $5k raise for 2021 salary) and got a $25k end of year bonus last year. No special bonuses ever as firm does not compete on cravath scale and is aggressively conservative in its secondary markets.

Thoughts on making the move? I don’t want to leave for just the money but seems like it’s a good time to do it and can command bigger signing bonus etc. and maybe get a bite of the covid cash rather than at the end of the year.

How many hours do you bill per year usually?

2000 in 2019 and about 2060 in 2020.

[Anonymous User]

can someone update this? about to fill out my Vault survey

https://docs.google.com/spreadsheets/d/ ... edit#gid=0

[nahumya]

Im a corporate associate at a mid market amlaw 100 in the Rockies. Fourth year at $165k (after a $5k raise for 2021 salary) and got a $25k end of year bonus last year. No special bonuses ever as firm does not compete on cravath scale and is aggressively conservative in its secondary markets.

Thoughts on making the move? I don’t want to leave for just the money but seems like it’s a good time to do it and can command bigger signing bonus etc. and maybe get a bite of the covid cash rather than at the end of the year.

How many hours do you bill per year usually?

2000 in 2019 and about 2060 in 2020.

Yeah, you can always go back if things don't work out. Just stash away the cash.

[Anonymous User]

Ugh once again with the KE crap... and lol at people who have some personal loyalty/identity wrapped up in their firms to argue over stupid stuff like this

Back to bonuses, how are people in the V40-100 feeling? At one of them in Chi/TX/LA and no news yet

I'm technically at a V40 - Hogan Lovells - but not feeling great because Hogan decided last year to abandon any pretense of being a top firm in favor of being cheap. And I'm assuming you're in Texas, because LA (and probably Chicago) is definitely gonna match Spring Bonuses.

Not so sure about DC though. I've spoken with people at Covington, and they think it's unlikely CB will hop on board with Spring Bonuses. And if Covington doesn't pay, zero chance Hogan does.

I’m not as pessimistic about it moving down the chain. I think Ropes will have to match Goodwin in Boston. That will force Wilmer to match in Boston (and probably DC too), which will then force other DC-centric firms to match (Covington, Hogan Lovells, etc.).

I think the tech firms all matching helps the bonus trickle down to other firms who see themselves as “peers” of Goodwin, Fenwick, Cooley, and other firms.

Ropes matched on Friday. Pay out end of April/December.

Wilmer has to match now given Ropes and Goodwin have, right?

I am hoping so... Wilmer can’t possibly ignore the match, right?

[Anonymous User]

Wilson match.

[Anonymous User]

Latham match. I think it's May/October with an hours requirement (if I'm remembering right). Here's to some movement this week!

May/October is annoying, as is not doing equal pay outs. I want my April/September money!

Hours requirement and pro-rated for partial year associates. Guess you have to cut the costs somewhere.

[Anonymous User]

Weil match. May/November, not split equally, but no hours requirement.

[Anonymous User]

Latham match. I think it's May/October with an hours requirement (if I'm remembering right). Here's to some movement this week!

May/October is annoying, as is not doing equal pay outs. I want my April/September money!

Hours requirement and pro-rated for partial year associates. Guess you have to cut the costs somewhere.

The comp memo that ATL posted was cut off. It says "associates who only work a partial year [??] to an approved reduced billable hours budget will receive a pro rated bonus".

What does the missing language say?

[Anonymous User]

Sullcrom is asleep at the wheel here. Come on guys!!

[Anonymous User]

Latham match. I think it's May/October with an hours requirement (if I'm remembering right). Here's to some movement this week!

May/October is annoying, as is not doing equal pay outs. I want my April/September money!

Hours requirement and pro-rated for partial year associates. Guess you have to cut the costs somewhere.

The comp memo that ATL posted was cut off. It says "associates who only work a partial year [??] to an approved reduced billable hours budget will receive a pro rated bonus".

What does the missing language say?

or

[Anonymous User]

Latham match. I think it's May/October with an hours requirement (if I'm remembering right). Here's to some movement this week!

May/October is annoying, as is not doing equal pay outs. I want my April/September money!

Hours requirement and pro-rated for partial year associates. Guess you have to cut the costs somewhere.

The comp memo that ATL posted was cut off. It says "associates who only work a partial year [??] to an approved reduced billable hours budget will receive a pro rated bonus".

What does the missing language say?

Yeah, pretty standard proration if you started after Jan 1 or are on reduced pace. Hours requirement sounds like it's tied to 1900. At this rate, that has to cover most associates...

[objctnyrhnr]

Still can’t comprehend how Jones Day maintains its vault rank while never going near any of this stuff.

As a JD associate, it is infuriating. I’m in a secondary market so don’t have other good options to get paid more. If I was in a market-paying city I would have been gone long ago.

Does anybody there address this at all or does it just get ignored?

But yeah not understanding why the associates taking the vault survey never both to punish them for this nonsense

[Anonymous User]

Still can’t comprehend how Jones Day maintains its vault rank while never going near any of this stuff.

As a JD associate, it is infuriating. I’m in a secondary market so don’t have other good options to get paid more. If I was in a market-paying city I would have been gone long ago.

Does anybody there address this at all or does it just get ignored?

But yeah not understanding why the associates taking the vault survey never both to punish them for this nonsense

Because perception moves slowly. Cravath is still v3 despite other firms quickly snapping up a lot of the same work it was doing, GULC took multiple OCIs of subpar performance to solidify the "T13", it took certain other ex-V10s years of allowing other firms to eat at their market share for them to fall out of the V10, etc.

Give it 10 years and we'll see if JD is still held in the same regard.

[Anonymous User]

I don’t even work at Kirkland and I’ve been on edge from the moment I woke up waiting for Kirkland to announce special bonuses.

[Anonymous User]

What about MoFo? Always late to the party.

[Definitely Not North]

Google doc says Cravath match???

[Anonymous User]

Cravath match, finally. Even split and no hours requirement. April and September payouts. Doing it right.