2021 End of Year Bonuses Forum

[Anonymous User]

The SALT change makes going to TX/FL slightly less appealing tax wise

[Barrred]

The SALT change makes going to TX/FL slightly less appealing tax wise

Unless there's a $400K income cap, in which case mid-levels/seniors still gotta move to Florida.

[clone22]

The bill that passed the house has SALT retroactive to 2021 tax year and has no cap on incomes.

Let's see what makes it through the Senate...

But more importantly.

WHERE IS MY BONUS.

Can all of us associates just do a coordinated work stoppage for like 15 minutes from 5pm - 5:15pm EST? Just to kind of flex on management to remind them that without us their precious little money-making machines to grinding halt?

[Anonymous User]

The bill that passed the house has SALT retroactive to 2021 tax year and has no cap on incomes.

Let's see what makes it through the Senate...

But more importantly.

WHERE IS MY BONUS.

Can all of us associates just do a coordinated work stoppage for like 15 minutes from 5pm - 5:15pm EST? Just to kind of flex on management to remind them that without us their precious little money-making machines to grinding halt?

Coordinated work stoppage? A labor law professor at a T-14 tells every class that he will represent any student who goes on and tries to unionize associates at their future biglaw firm. I’m surprised no one has tried yet. (Yes, it would be a big fight about whether associates are managers and this ineligible to unionize, and also yes, it would be an even bigger fight to convince a majority of biglaw associates to vote in a union. But the credible threat alone would probably extract meaningful concessions from a partnership.)

[Anonymous User]

Can all of us associates just do a coordinated work stoppage for like 15 minutes from 5pm - 5:15pm EST? Just to kind of flex on management to remind them that without us their precious little money-making machines to grinding halt?

All this would accomplish is let the Extremely Online partners know which associates are Extremely Online. No thank you.

[clone22]

The bill that passed the house has SALT retroactive to 2021 tax year and has no cap on incomes.

Let's see what makes it through the Senate...

But more importantly.

WHERE IS MY BONUS.

Can all of us associates just do a coordinated work stoppage for like 15 minutes from 5pm - 5:15pm EST? Just to kind of flex on management to remind them that without us their precious little money-making machines come to a grinding halt?

Coordinated work stoppage? A labor law professor at a T-14 tells every class that he will represent any student who goes on and tries to unionize associates at their future biglaw firm. I’m surprised no one has tried yet. (Yes, it would be a big fight about whether associates are managers and this ineligible to unionize, and also yes, it would be an even bigger fight to convince a majority of biglaw associates to vote in a union. But the credible threat alone would probably extract meaningful concessions from a partnership.)

Associates would very clearly be union and not management. There are a number of legal nonprofits in NYC where the staff (attorneys, paralegals, and support staff) are unionized. Their supervisors are management.

[clone22]

Can all of us associates just do a coordinated work stoppage for like 15 minutes from 5pm - 5:15pm EST? Just to kind of flex on management to remind them that without us their precious little money-making machines to grinding halt?

All this would accomplish is let the Extremely Online partners know which associates are Extremely Online. No thank you.

This attitude is why we can't have nice things.

[Anonymous User]

The bill that passed the house has SALT retroactive to 2021 tax year and has no cap on incomes.

Let's see what makes it through the Senate...

But more importantly.

WHERE IS MY BONUS.

Can all of us associates just do a coordinated work stoppage for like 15 minutes from 5pm - 5:15pm EST? Just to kind of flex on management to remind them that without us their precious little money-making machines come to a grinding halt?

Coordinated work stoppage? A labor law professor at a T-14 tells every class that he will represent any student who goes on and tries to unionize associates at their future biglaw firm. I’m surprised no one has tried yet. (Yes, it would be a big fight about whether associates are managers and this ineligible to unionize, and also yes, it would be an even bigger fight to convince a majority of biglaw associates to vote in a union. But the credible threat alone would probably extract meaningful concessions from a partnership.)

Associates would very clearly be union and not management. There are a number of legal nonprofits in NYC where the staff (attorneys, paralegals, and support staff) are unionized. Their supervisors are management.

You and I can agree but whatever union-busting firm retained by Kirkland & Ellis will argue otherwise if it got that far. The bigger hurdle (by far) is getting a majority of associates at a firm to agree to go down that path.

[clone22]

The bill that passed the house has SALT retroactive to 2021 tax year and has no cap on incomes.

Let's see what makes it through the Senate...

But more importantly.

WHERE IS MY BONUS.

Can all of us associates just do a coordinated work stoppage for like 15 minutes from 5pm - 5:15pm EST? Just to kind of flex on management to remind them that without us their precious little money-making machines come to a grinding halt?

Coordinated work stoppage? A labor law professor at a T-14 tells every class that he will represent any student who goes on and tries to unionize associates at their future biglaw firm. I’m surprised no one has tried yet. (Yes, it would be a big fight about whether associates are managers and this ineligible to unionize, and also yes, it would be an even bigger fight to convince a majority of biglaw associates to vote in a union. But the credible threat alone would probably extract meaningful concessions from a partnership.)

Associates would very clearly be union and not management. There are a number of legal nonprofits in NYC where the staff (attorneys, paralegals, and support staff) are unionized. Their supervisors are management.

You and I can agree but whatever union-busting firm retained by Kirkland & Ellis will argue otherwise if it got that far. The bigger hurdle (by far) is getting a majority of associates at a firm to agree to go down that path.

Agreed. And there's always the fact that V50 associates are the lucky few - plenty of young lawyers out there willing to replace the associates trying to unionize in a heartbeat.

Honestly, I was being facetious. I think partners know very very well that we are the walking talking profit centers of the law firm, and that without us they would each make quite a bit less $$$.

[Anonymous User]

I want bonuses to be high but let's not lose perspective here. We are highly paid managerial class professionals. We're not coal miners being paid minimum wage. Count me out of any "union".

[Anonymous User]

I want bonuses to be high but let's not lose perspective here. We are highly paid managerial class professionals. We're not coal miners being paid minimum wage. Count me out of any "union".

I'm the previous anon who mentioned unionizing - I have no doubt that this would be the message that would win the day. Never mind that some of the most successful unions in America are for professional athletes who make much more than biglaw associates anyway. Unions are not only for blue collar workers or for low-wage jobs. I do respect the "union" scare quotes though.

[objctnyrhnr]

where’s our first mover this is getting absurd

[Anonymous User]

I expect now we're likely to have Cravath be the first mover, and they historically announce Monday mornings.

Agreed. And there's always the fact that V50 associates are the lucky few - plenty of young lawyers out there willing to replace the associates trying to unionize in a heartbeat.

Honestly, I was being facetious. I think partners know very very well that we are the walking talking profit centers of the law firm, and that without us they would each make quite a bit less $$$.

While it is true that there are hordes of law grads who would happily accept offers as 1st years at any major law firm, there are simply not large numbers of readily available replacements for senior and mid-level biglaw associates. If there were, I don't think we'd be seeing the 6 figure signing bonuses.

[clone22]

where’s our first mover this is getting absurd

I am starting to think that the post a few pages back that "bonuses have been canceled due to lack of hustle" is going to be more prescient than originally intended.

Maybe the mind game here is the firms stay silent on bonuses so long that we get worried, so that announcing bonuses on the 2020 scale would make most us sigh in relief.

[clone22]

I expect now we're likely to have Cravath be the first mover, and they historically announce Monday mornings.

Agreed. And there's always the fact that V50 associates are the lucky few - plenty of young lawyers out there willing to replace the associates trying to unionize in a heartbeat.

Honestly, I was being facetious. I think partners know very very well that we are the walking talking profit centers of the law firm, and that without us they would each make quite a bit less $$$.

While it is true that there are hordes of law grads who would happily accept offers as 1st years at any major law firm, there are simply not large numbers of readily available replacements for senior and mid-level biglaw associates. If there were, I don't think we'd be seeing the 6 figure signing bonuses.

Oh, absolutely. They are not minting senior associates anymore, which is why everyone is scrambling.

It looks like some V50s are reading the writing on the wall, and are realizing that they need to retool talent development. A lot of firms seem to be bringing in "knowledge management attorneys" (or similar titles), which are basically biglaw midlevels and seniors whose main job will be to train up and get up to speed junior associates joining the various practice groups.

[Anonymous User]

where’s our first mover this is getting absurd

I am starting to think that the post a few pages back that "bonuses have been canceled due to lack of hustle" is going to be more prescient than originally intended.

Maybe the mind game here is the firms stay silent on bonuses so long that we get worried, so that announcing bonuses on the 2020 scale would make most us sigh in relief.

2019 and 2020 early announcements of flat bonuses were clearly intended as signals to the market to not raise the scale. I think the common perception among law firms this year is that raises are coming. So nobody is going to take the risk of making an early announcement of flat bonuses. And I also think there's a fear that if they come in with a nominal raise that they'll get blown out of the water by DPW and still come out looking bad.

[Anonymous User]

From my perspective any firm that raises and gets the bidding war started comes out looking good. Unless it's like DPW raising 10%. But random V40 looking to make ATL positively? Now's your time to shine.

[objctnyrhnr]

From my perspective any firm that raises and gets the bidding war started comes out looking good. Unless it's like DPW raising 10%. But random V40 looking to make ATL positively? Now's your time to shine.

Couldn’t agree more

[Anonymous User]

We're not market leaders or anything but Polsinelli announced theirs today. It's black box.

Class of 2019. $30k.

[Anonymous User]

We should all ask our hiring partners why our firms don’t announce bonuses first to increase visibility for recruiting. Everyone is bleeding associates, so it’s a zero cost move with a lot of potential benefit. If the firm will match anyway, then why not be the first to announce? Doesn’t seem like there is much competition this year.

[Anonymous User]

We should all ask our hiring partners why our firms don’t announce bonuses first to increase visibility for recruiting. Everyone is bleeding associates, so it’s a zero cost move with a lot of potential benefit. If the firm will match anyway, then why not be the first to announce? Doesn’t seem like there is much competition this year.

Not to be a party pooper, but I don’t see the logic here at all for how it would lead to retention/benefit. Everyone knows bonuses are coming already. Announcing just gives another firm a target to say they will match in a lateral offer.

[Anonymous User]

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[Anonymous User]

We're not market leaders or anything but Polsinelli announced theirs today. It's black box.

Class of 2019. $30k.

How much of an increase is this for your class relative to last year?

[Anonymous User]

We're not market leaders or anything but Polsinelli announced theirs today. It's black box.

Class of 2019. $30k.

I'm in a market with Polsinelli, if I don't get this I'm gone.

[Anonymous User]

We're not market leaders or anything but Polsinelli announced theirs today. It's black box.

Class of 2019. $30k.

How much of an increase is this for your class relative to last year?

It's black box. I don't know what my class got last year on average.