2014 Biglaw Bonus Thread Forum

[arklaw13]

Junior at a non-NYC office (TX/CA/IL) of a V100 which starts associates at 160.

Hit hours. Bonus ~1/3 of DPW.

damn. rekt

[jbagelboy]

I really don't mean this the wrong way, but honestly, why is everyone freaking out that not every vault firm will pay out $20-30K higher bonuses than last year? The top flight NY corporate firms did, in fact, have "great" years as far as deal volume and PPP are concerned. If other areas, geographically or practice-wise, weren't as hot, why do we assume so quickly they should award the same bonuses and jump on them if they don't? As the sidley ATL article mentioned, while we are quick to cast aside any truly economic rationale to associate compensation decisions, the firm would take a noticeable hit in some relevant metrics if it followed "DPW"

Expecting 80-90 firms to maintain identical compensation structures while conceding significantly different bottom lines ("the super rich get richer" while everyone else trudges along) is irrational to me. I would expect to see more variation, not less, over the next decade as the market continues to adjust to the shock.

Feel free to correct me though.

[Old Gregg]

I'll correct you. Law firm partners are terrible business people, so it makes sense that they wouldn't act rationally.

And plenty of firms outside of NYC had banner years.

[Anonymous User]

Two Skadden associates in M&A in NY quoted me 3000 and 3100 hours this past year. Mid levels. I doubt it's anywhere near 1750 hours.

they were lying to you or exaggerating by a few hundred, but even then not representative of normal skadden or other comparable firms or firms with same reputation.

okay dood. tell yourself that.

No, it's 100% true. But glad you feel super safe making sarcastic comments as "anonymous."

The first part of his statement definitely wasn't, which I guess what I was going at. Generally agree most places don't bill 3000 but I'd say a fair percentage do. Not median but maybe my sample size was way off.

[Old Gregg]

Sorry-- was unclear.

Yes, there are 3,000 hour billers at Skadden. But they are not representative of the firm.

[Anonymous User]

Kirkland non-NY office (seems relevant considering other firms like Sidley), sub-2000 hours, junior associate, 1.25x DPW scale.

[Mal Reynolds]

Kirkland non-NY office (seems relevant considering other firms like Sidley), sub-2000 hours, junior associate, 1.25x DPW scale.

[utahraptor]

you had that saved up, didn't you?

[Mal Reynolds]

lol nope

[Old Gregg]

Back in day, top billers at K&E were getting 3x to 4x market. Love all the salivating, but these are disappointing.

[anonnymouse]

Back in day, top billers at K&E were getting 3x to 4x market. Love all the salivating, but these are disappointing.

Back in the day (2011), market was lower. On an absolute basis, these bonuses are on par with previous 'shattering' announcements. LJL at the absurd opinion that these are "disappointing" when 2011 grads are getting six figure bonuses.

[Desert Fox]

What was KE giving in 2006 07 and 08

[anonnymouse]

What was KE giving in 2006 07 and 08

Looks like a max of 2x Cravath:

2006 - http://abovethelaw.com/2006/12/associat ... and-ellis/
2007 - http://abovethelaw.com/2007/12/associat ... s-bonuses/
2008 - http://abovethelaw.com/2008/12/associat ... d-ellis-2/

Kirkland was paying back then (2007) about what it pays now in nominal absolute terms, except at the very junior end. As a reminder, Cravath bonuses were 35/40/45/50/55/60/etc.

Edit to add: 2008 was not a particularly shattering year, if I recall.

[Old Gregg]

Back in day, top billers at K&E were getting 3x to 4x market. Love all the salivating, but these are disappointing.

Back in the day (2011), market was lower. On an absolute basis, these bonuses are on par with previous 'shattering' announcements. LJL at the absurd opinion that these are "disappointing" when 2011 grads are getting six figure bonuses.

I'm referring to 2006 and 2007 (and before), dumbass.

When the market was $35k for first years, K&E was doling out six figure bonuses to said first years who billed at the top of their class.

But whatever helps you sleep at night and makes you think working that extra 700 hours was worth the additional .75 DPW. The most efficient K&E biller comes in at 1950 hours and takes home 1.25x DPW. That person is the true winner.

[Old Gregg]

Bottom line is that this is a firm that used to use the Wall Street bonuses as a floor and go as high as 3x to 4x for top of class associates. It's a shame that 2x is now the ceiling.

Still objectively great numbers. But PPP is way higher now. K&E should do better. I'm sure juniors are happy, but 6th years and NSPs are still making less than they did when they started in many cases (from a pure bonus perspective, not base salary obviously).

[fats provolone]

i already forgot what the dpw scale was. 20 for 1st yrs? so 25 at kirkland? that seems p good

[84651846190]

Bottom line is that this is a firm that used to use the Wall Street bonuses as a floor and go as high as 3x to 4x for top of class associates. It's a shame that 2x is now the ceiling.

Still objectively great numbers. But PPP is way higher now. K&E should do better. I'm sure juniors are happy, but 6th years and NSPs are still making less than they did when they started in many cases (from a pure bonus perspective, not base salary obviously).

To be fair, it would be kind of retarded to be giving out 400k bonuses to senior associates. That's probably more than the actual salaries of some non-equity partners.

[anonnymouse]

Back in day, top billers at K&E were getting 3x to 4x market. Love all the salivating, but these are disappointing.

Back in the day (2011), market was lower. On an absolute basis, these bonuses are on par with previous 'shattering' announcements. LJL at the absurd opinion that these are "disappointing" when 2011 grads are getting six figure bonuses.

I'm referring to 2006 and 2007 (and before), dumbass.

When the market was $35k for first years, K&E was doling out six figure bonuses to said first years who billed at the top of their class.

But whatever helps you sleep at night and makes you think working that extra 700 hours was worth the additional .75 DPW. The most efficient K&E biller comes in at 1950 hours and takes home 1.25x DPW. That person is the true winner.

Chill Zweit, most of your poasts on this bort are bang on but here you are just wrong. No need to name-call, broski.

Here's 2006 info: http://www.infirmation.com/bboard/clubs ... _id=0035YR

See that 3rd year figure for 2400? This year it's even higher. Agreed on the most efficient biller, though. That 1950 bro is credited as fuck.

[anonnymouse]

Bottom line is that this is a firm that used to use the Wall Street bonuses as a floor and go as high as 3x to 4x for top of class associates. It's a shame that 2x is now the ceiling.

Still objectively great numbers. But PPP is way higher now. K&E should do better. I'm sure juniors are happy, but 6th years and NSPs are still making less than they did when they started in many cases (from a pure bonus perspective, not base salary obviously).

No, bottom line is KE should not be shat on for leading the bonus market. Maybe then dumbasfuck law students would stop going to the Cravaths and S&Cs (in DROVES) and go where they get paid, instead.

[fats provolone]

does ke really have trouble filling it's class tho

[anonnymouse]

does ke really have trouble filling it's class tho

IDK but heard from a friend that used to work there that they struggled to fill in NYC this past summer. NALP form had them at half the previous two summers and (50 -> 25), if the Summer Classes 2015 thread is to be believed, half of next summer (55 or something). Maybe last summer was an anomaly.

[fats provolone]

i mean they dinged me so obviously they had their pick of the litter

[jbagelboy]

does ke really have trouble filling it's class tho

IDK but heard from a friend that used to work there that they struggled to fill in NYC this past summer. NALP form had them at half the previous two summers and (50 -> 25), if the Summer Classes 2015 thread is to be believed, half of next summer (55 or something). Maybe last summer was an anomaly.

We have a couple good people heading to Kirkland this year but generally its definitely not a top choice. I guess money isn't everything. Although if they just increased base pay to $170k instead of higher discretionary bonuses that might get more attention.

[84651846190]

.

[Old Gregg]

Andddd look at the ATL post updates. As usual, I was right.