2021 Special Bonuses Forum

[Anonymous User]

https://abovethelaw.com/2021/04/covingt ... onus-2021/

CovingTTTon strikes again

Lmfao

[Monochromatic Oeuvre]

https://abovethelaw.com/2021/04/covingt ... onus-2021/

CovingTTTon strikes again

Yes! CovingTTTon memes are back on the menu! BUY BUY BUY boys, while the CovingTTTon meme market is low, because we're going TO THE MOON!

[lolwutpar]

lol I loved all the takes about how CovingTTTon learned its lesson, no one cares they tried to fuck the market back when raises happened, etc.

Never forget.

[Monochromatic Oeuvre]

Dusting off an old classic to whet your meme appetites:

[Anonymous User]

A&P full match. Suck it CovingTTTon.

[Anonymous User]

A&P full match. Suck it CovingTTTon.

Cheers to A&P allowing associates to catch up, either for Sept payout or year-end. Pleasant surprise!!

[Anonymous User]

Covington just announced.

As an incoming SA I have been waiting for this lol

My condolences. You are apparently going to the crappiest firm in DC. Or at least, tied for crappiest with AP (no 2020 special bonuses), W&C (no bonuses at all) and Hogan(?????).

[Anonymous User]

A&P full match. Suck it CovingTTTon.

Great news for the associates at A&P. I think this plus Cov’s fake match essentially guarantees Hogan will match.

[Anonymous User]

A&P full match. Suck it CovingTTTon.

Great news for the associates at A&P. I think this plus Cov’s fake match essentially guarantees Hogan will match.

Yes but will Hogan fake match (again) or follow the excellent lead of AP (and literally every other V40 firm)?

[Anonymous User]

A&P full match. Suck it CovingTTTon.

Great news for the associates at A&P. I think this plus Cov’s fake match essentially guarantees Hogan will match.

Yes but will Hogan fake match (again) or follow the excellent lead of AP (and literally every other V40 firm)?

Wow you’re giving MoFo way more credit than it’s due here. Crickets...

[Anonymous User]

A&P full match. Suck it CovingTTTon.

Great news for the associates at A&P. I think this plus Cov’s fake match essentially guarantees Hogan will match.

Yes but will Hogan fake match (again) or follow the excellent lead of AP (and literally every other V40 firm)?

Wow you’re giving MoFo way more credit than it’s due here. Crickets...

MoFo, Ho Love, BSF and Quinn just battling out at this point to see who can be the biggest embarrassment in the V40.

[Anonymous User]

Given past experience, and their ridiculous 2020 bonus requirement (annualize 2000 from Feb. 1-Aug 31 2020) designed to be cheap, Paul Hastings still hasn't announced their eligibility requirements.

I think they'll copy CovingTTTon or come close.

[nahumya]

A&P announcing before Quinn and MoFo. Would not have guessed it.

[Anonymous User]

A&P announcing before Quinn and MoFo. Would not have guessed it.

Unreal still no MoFo news??

[Anonymous User]

A&P announcing before Quinn and MoFo. Would not have guessed it.

Unreal still no MoFo news??

In 2018 MoFo was more than three *weeks* after Milbank kicked things off and 15 days after Cravath. It was after CovingTTTon's about-face and barely even before King & Spalding.

https://abovethelaw.com/2018/06/salary- ... 2018/?rf=1

Quinn on the other hand was only 2 days behind Cravath back then, but that firm has been in a tailspin for a little while now.

[objctnyrhnr]

A&P announcing before Quinn and MoFo. Would not have guessed it.

Unreal still no MoFo news??

In 2018 MoFo was more than three *weeks* after Milbank kicked things off and 15 days after Cravath. It was after CovingTTTon's about-face and barely even before King & Spalding.

https://abovethelaw.com/2018/06/salary- ... 2018/?rf=1

Quinn on the other hand was only 2 days behind Cravath back then, but that firm has been in a tailspin for a little while now.

Other than this odd match delay, what’s been going on with Quinn?

[Anonymous User]

For those wondering, these seem to be the only v40s that haven’t announced a match yet:



V13 - Quinn
V16 - jones day (lol of course)
V20 - Williams and Connolly
V23 - MoFo
V27 - hogan
V29 - BSF
V33 - baker McKenzie
V38 - King and Spaulding

Once you drop below 40 it seems like a lot more firms haven’t made an announcement yet so I stopped here.

Is this list right? Does anyone else need to be shamed or removed from the list of shame?

We're down to the un-elite eight. Presumably just associates at these firms/some in the V40-60 range plus people who like to shit on these firm left on this thread. Will any announce today to narrow the wall of shame down even further?

[Anonymous User]

Any Cahill people want to explain the bonus setup? Sounds like they might roll the second half of the special bonus into their existing year-end second bonus.

[Anonymous User]

lol Sheppard Mullin beating MoFO: https://abovethelaw.com/2021/04/am-law- ... us-parade/

Waiting for Crowell & Moring to one-up Hogan in DC now

[marmot8]

Just curious: what’s the argument as to why people who are annualizing less than what some firms like Covington are requiring should be entitled to these special bonuses? Does everyone really think that all associates at a firm should get a bonus versus just those who have been busy? Understanding how busy one is often may be out of an associates control, so what? One associate had a lot of free time while the other grinded around the clock and in turn earned a lot for the firm.

[Anonymous User]

Just curious: what’s the argument as to why people who are annualizing less than what some firms like Covington are requiring should be entitled to these special bonuses? Does everyone really think that all associates at a firm should get a bonus versus just those who have been busy? Understanding how busy one is often may be out of an associates control, so what? One associate had a lot of free time while the other grinded around the clock and in turn earned a lot for the firm.

Associates are entitled to whatever compensation the market bears for them. No matter how they are styled, the bonuses are not an altruistic gesture from the partners in recognition of unusually hard work. The bonus are instead a recognition that the partners will not have the amount of quality, experienced associates that they need to do all of this work if they don't give associates enough of a reason to stick around.

The partners also decided that paying all associates is the only way to compete in this market, because associates would see them as cheap if they only gave those bonuses to high billers. To be totally frank, it's naive to think that the bonuses are a post hac gracious gesture for "grind[ing] around the clock and . . . earn[ing] a lot for the firm." The bonuses are meant to keep associates around and available for future grinding and earning.

[Monochromatic Oeuvre]

Just curious: what’s the argument as to why people who are annualizing less than what some firms like Covington are requiring should be entitled to these special bonuses? Does everyone really think that all associates at a firm should get a bonus versus just those who have been busy? Understanding how busy one is often may be out of an associates control, so what? One associate had a lot of free time while the other grinded around the clock and in turn earned a lot for the firm.

1. Firms are entitled to shut associates out of a bonus by whatever they want. And associates are entitled to tell the firm to go fuck itself when there's a better option.

2. It sounds like you're proposing a system where comp is based on X percent of the revenue an associate is directly responsible for. I would love that, and I assure you, the fact that grinders would finally be getting compensated for going above and beyond is exactly why firms don't do it.

[Anonymous User]

Just here to remind everyone that MoFo still hasn’t matched. What a disgrace.

[Anonymous User]

I know someone who was considering firms to lateral to and MoFo was one of them. MoFo is out of the running now - why go to a firm that could potentially screw you on comp?

[Anonymous User]

Just here to remind everyone that MoFo still hasn’t matched. What a disgrace.

This whole week has been radio silence from the V40 except for Arnold and freaking Porter of all firms. Pretty pathetic, but I think MoFo, BSF, Hogan, and Quinn are the worst offenders at this point.