2021 Special Bonuses Forum

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 5:29 pm

Anonymous User wrote:
Thu Apr 08, 2021 1:24 pm
lolwutpar wrote:
Thu Apr 08, 2021 1:12 pm
Anonymous User wrote:
Thu Apr 08, 2021 1:06 pm
ExpOriental wrote:
Thu Apr 08, 2021 10:13 am
Anonymous User wrote:
Thu Apr 08, 2021 10:01 am
Who's left? Expanding to V60 and leaving off firms that do their own crazy thing (e.g. Wachtell, JD, and W&C):

13 - Quinn
23 - MoFo
32 - Baker McKenzie
38 - K&S
40 - K&L Gates
42 - Munger Tolles
45 - Baker Botts
46 - Linklaters
47 - Allen & Overy
49 - Perkins Coie
53 - Susman
55 - Dentons
56 - Greenberg Trauring
60 - Jenner

So basically a bunch of notoriously cheap/poor firms (K&L, GT, Dentons), some real embarrassments (Quinn, MoFo) and then places where associates must genuinely be on the edge of their seats to find out on which side their firm will land (Baker x2, Munger, Linklaters, et al.)
Jones Day should not be excluded from this list. Arguably Williams & Connolly shouldn't be either, but at least there's a known money-for-prestige exchange that everyone buys into if they go there.

I will also second Susman not belonging on the list.
Other than MoFo, Baker Botts and K&S, have these firms been genuinely on fire in terms of work? Putting aside the silly "market" argument (makes as much sense as arguing "precedent" in a deal), the bonuses were issued because certain firms are slammed with work -- these bonuses are retentive and issued as a show of goodwill given how rough it's been for 12 months.

If your firm hasn't been crushed/just been "normal" busy, then it doesn't make any sense. And the "associates will see which firms are paying market and which ones aren't" argument doesn't hold -- no corp associate at Perkins Coie in Seattle billing 1800 is going to lateral to Gibson NY to bill 2400 for an additional $64k. And no one is lateralling from litigation in Munger LA to go be a cap markets associate at DPW for an additional 400 hours on their plate.
i dont get the cuck mentality ITT
1. Annoying to watch people try to equate compensation between someone billing 1700 at a v100 vs. someone cranking 2800 at a v5 as though they're remotely the same experience.
2. Equally annoying to watch TLS endlessly whine about comp. If you want to be paid more, go lateral to Latham/Skadden M&A and demand to get paid. If you went to a firm for the "culture" or "lifestyle" seems like you didn't go for the "comp".
Yeah except when “culture” and “lifestyle” are a lie. Besides the fact that there are awful partners at every firm, which is luck of the draw, billing 2000 at a V10 and billing 2000 at a V50 feel exactly the same. There’s no such thing as “culture” in the mix there. Perhaps the odds of a 2400-hour year at the V10 are higher and the odds of a 1700-hour year at the V50 are higher, but that doesn’t mean you’re definitely billing 1700 at the V50 and always billing 2400 at the V10.

The problem though is the perfectly likely outcome where you’re billing 2050 at Allen Overy or whatever. If any given V60 tries to pay you in culture the years you do hit your hours, that’s when it’s time to go.

And the lateral outcomes described in the earlier post are unreasonable extremes. No one’s lateraling from Seattle to NY, from V50 to V10, or from litigation to corporate. It’s: Do I want to practice litigation at Perkins DC office or try to go to AP’s litigation shop and make market? Or a lateral from a NY V60 corporate to a NY V40 corporate.

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Re: 2021 Special Bonuses

Post by ExpOriental » Thu Apr 08, 2021 5:35 pm

Anonymous User wrote:
Thu Apr 08, 2021 5:29 pm

No one’s lateraling from Seattle to NY, from V50 to V10, or from litigation to corporate.
No comment on the rest, but this happens pretty routinely. It's definitely not an "unreasonable extreme," in any case.

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Re: 2021 Special Bonuses

Post by Monochromatic Oeuvre » Thu Apr 08, 2021 5:52 pm

Except for WLRK and Cravath (and maybe Skadden? I know nothing about them), every V10 regularly hires up and down the V100.

Trading up for a preftige pit stop is an extremely common thing for people from lower-ranked firms to do. After all, the list of other reasons to jump to another firm past your first couple years starts getting pretty narrow.

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 6:22 pm

Anonymous User wrote:
Thu Apr 08, 2021 5:29 pm
Yeah except when “culture” and “lifestyle” are a lie. Besides the fact that there are awful partners at every firm, which is luck of the draw, billing 2000 at a V10 and billing 2000 at a V50 feel exactly the same. There’s no such thing as “culture” in the mix there. Perhaps the odds of a 2400-hour year at the V10 are higher and the odds of a 1700-hour year at the V50 are higher, but that doesn’t mean you’re definitely billing 1700 at the V50 and always billing 2400 at the V10.
This take is crazy bad. First, this discussion is largely irrelevant unless you are interested in NY corporate. Using vault rankings for anything else is dumb in general, but especially here--a lot of people make practice group/geography decisions based at least in part on "culture" and "lifestyle." And those actually do differ. That should be incorporated into your analysis.

Also, even in the corporate skill, you seem to be ignoring how substantial the probability gap is between averaging 2400 at a V10 and averaging 2400 at a V50.

And the lateral outcomes described in the earlier post are unreasonable extremes. No one’s lateraling from Seattle to NY, from V50 to V10, or from litigation to corporate. It’s: Do I want to practice litigation at Perkins DC office or try to go to AP’s litigation shop and make market? Or a lateral from a NY V60 corporate to a NY V40 corporate.
Most people are not lateralling from secondary markets to NY because they have no desire to, not because they cannot. Why would you think anyone who has voluntarily taken a Seattle job would want to go to NY? The two cities are completely different.

It is also especially odd that you would single out Perkins, because their Seattle lit office, and its products liability group in particular, is stacked as fuck and way better credentialed than pretty much any non-DC-elite-appellate/lit boutique. The numerous SCOTUS partners/associates there, I am sure, could scrounge up some position in NY.

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 6:35 pm

13 - Quinn
23 - MoFo
32 - Baker McKenzie
38 - K&S
40 - K&L Gates
42 - Munger Tolles
45 - Baker Botts
46 - Linklaters
47 - Allen & Overy
49 - Perkins Coie
53 - Susman
55 - Dentons
56 - Greenberg Trauring
60 - Jenner
Valid points from both sides, but the above is really not a list of lifestyle firms.

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 6:44 pm

Anonymous User wrote:
Thu Apr 08, 2021 6:22 pm
Anonymous User wrote:
Thu Apr 08, 2021 5:29 pm
Yeah except when “culture” and “lifestyle” are a lie. Besides the fact that there are awful partners at every firm, which is luck of the draw, billing 2000 at a V10 and billing 2000 at a V50 feel exactly the same. There’s no such thing as “culture” in the mix there. Perhaps the odds of a 2400-hour year at the V10 are higher and the odds of a 1700-hour year at the V50 are higher, but that doesn’t mean you’re definitely billing 1700 at the V50 and always billing 2400 at the V10.
This take is crazy bad. First, this discussion is largely irrelevant unless you are interested in NY corporate. Using vault rankings for anything else is dumb in general, but especially here--a lot of people make practice group/geography decisions based at least in part on "culture" and "lifestyle." And those actually do differ. That should be incorporated into your analysis.

Also, even in the corporate skill, you seem to be ignoring how substantial the probability gap is between averaging 2400 at a V10 and averaging 2400 at a V50.

And the lateral outcomes described in the earlier post are unreasonable extremes. No one’s lateraling from Seattle to NY, from V50 to V10, or from litigation to corporate. It’s: Do I want to practice litigation at Perkins DC office or try to go to AP’s litigation shop and make market? Or a lateral from a NY V60 corporate to a NY V40 corporate.
Most people are not lateralling from secondary markets to NY because they have no desire to, not because they cannot. Why would you think anyone who has voluntarily taken a Seattle job would want to go to NY? The two cities are completely different.

It is also especially odd that you would single out Perkins, because their Seattle lit office, and its products liability group in particular, is stacked as fuck and way better credentialed than pretty much any non-DC-elite-appellate/lit boutique. The numerous SCOTUS partners/associates there, I am sure, could scrounge up some position in NY.
Okay well yours truly is a litigation associate, so can’t speak to corporate, but with the exception of a couple friends at sweatshop, above-market boutiques and maybe Kirkland, everyone I know who does litigation anywhere up and down the V50 has pretty much the same “lifestyle” unless they happen to be on a miserable case, but that seems to be random by case, not firm. And I’m not suggesting anyone picks Lit by Vault ranking. I’m saying people should pick Lit by the city they want to be in, and by comp, period.

As for Seattle->NY, I have no doubt people pick Seattle precisely because they WANT to work there/are from there, and have no intention of going to NY or LA anyway. I was responding to an earlier poster who suggested that Perkins doesn’t need to pay bonuses because no one’s lateraling from Seattle to DPW. My point was, essentially, d’uh, but that’s not the point. Someone could lateral from Perkins DC to Latham DC though. I know folks at Perkins DC and they work hella hard for less pay. I’d look to get out after getting constantly shifted on comp like this if I were them.

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lolwutpar

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Re: 2021 Special Bonuses

Post by lolwutpar » Thu Apr 08, 2021 6:45 pm

I know a lot of people that bill a ton at lower ranked firms.

I know a lot of people that bill a ton at higher ranked firms.

To try and draw a conclusion of hours based on vault ranking is fucking asinine.

The difference is that you don't get paid market comp at a lower ranked firm. Even if they ostensibly pay "market" they find a lot of ways to weasel out of it (i.e. high hours requirements, setting hours goals based on stupid dates for special bonuses, not paying special bonuses, etc.)

ETA: I probably know some people at those "culture" or "lifestyle" firms who have billed more than me in our careers but I've probably outearned them to the tune of tens of thousands.

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 7:43 pm

Partner profits are at all time highs, firms that fleece their associates out of tens of thousands of dollars deserve to be named and shamed. The legal market is hilariously saturated, peer pressure and making CovingTTTon memes is basically all we have to maybe move the needle in our favor a little bit.

You do not even need to believe it, just pitch in and call Skadden/MoFo/Jones Day or whatever firm low-tier trash for skimping on bonuses / having hours requirements / whatever cheap moves they do to rip off their associates on the forums and then wreck the firm when vault sends by its annual survey.

Vault, USNWR, prestige, it's literally all meaningless, so just do whatever might eventually force a firm to treat you like something more than replaceable human garbage. The cost is like some senior partner maybe not having his 4th summer home, it's a no brainer.

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 8:33 pm

I gather MoFo bonuses are incoming...

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 8:57 pm

For what it's worth on all the people dunking on Quinn in here, last fall they literally never announced the special Covid bonus - and just paid it without any notice whatsoever at the end of the year. I wouldn't hold my breath for an official Quinn announcement, but they'll pay.

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 9:03 pm

Anonymous User wrote:
Thu Apr 08, 2021 5:29 pm
Perhaps the odds of a 2400-hour year at the V10 are higher
There is no "perhaps" to this. There is RPL data available and high RPL firms that pay market (or above market at lower per hour rates) have the worst per hour compensation in market paying big law firms and that's a really bad thing that you should weigh versus the prestige.
Anonymous User wrote:
Thu Apr 08, 2021 5:29 pm
No one’s lateraling from V50 to V10.
Oh, I get it now, you must be a law student?

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 9:32 pm

Anonymous User wrote:
Thu Apr 08, 2021 9:03 pm
Anonymous User wrote:
Thu Apr 08, 2021 5:29 pm
Perhaps the odds of a 2400-hour year at the V10 are higher
There is no "perhaps" to this. There is RPL data available and high RPL firms that pay market (or above market at lower per hour rates) have the worst per hour compensation in market paying big law firms and that's a really bad thing that you should weigh versus the prestige.
Anonymous User wrote:
Thu Apr 08, 2021 5:29 pm
No one’s lateraling from V50 to V10.
Oh, I get it now, you must be a law student?
Higher RPL doesn't necessarily mean that associates are working more hours though. Not sure where you are getting higher RPL = worse hours.

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 10:02 pm

Anonymous User wrote:
Thu Apr 08, 2021 9:32 pm
Anonymous User wrote:
Thu Apr 08, 2021 9:03 pm
Anonymous User wrote:
Thu Apr 08, 2021 5:29 pm
Perhaps the odds of a 2400-hour year at the V10 are higher
There is no "perhaps" to this. There is RPL data available and high RPL firms that pay market (or above market at lower per hour rates) have the worst per hour compensation in market paying big law firms and that's a really bad thing that you should weigh versus the prestige.
Anonymous User wrote:
Thu Apr 08, 2021 5:29 pm
No one’s lateraling from V50 to V10.
Oh, I get it now, you must be a law student?
Higher RPL doesn't necessarily mean that associates are working more hours though. Not sure where you are getting higher RPL = worse hours.
This. My clients at my middling-PPL (but still V40) firm hardly ever pay near my hourly rate. I wouldn’t be surprised if SullCrom’s clients pay considerably more for a midlevel like me. And I guarantee the partners at SullCrom make more than 20% more from their 2400-hour associates than the partners at my firm get from my 2000 hours.

And btw, my rates as an associate are literally double that of a friend of mine who’s a partner at a regional midlaw firm.

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Re: 2021 Special Bonuses

Post by 2013 » Thu Apr 08, 2021 10:26 pm

Can we talk about how associates in RALEIGH and ATLANTA are getting PAID? Cravath scale in low, low, low cost of living places.

Forget special bonuses. Does this mean NY to $200? 220?

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 10:39 pm

Anonymous User wrote:
Thu Apr 08, 2021 9:32 pm
Higher RPL doesn't necessarily mean that associates are working more hours though. Not sure where you are getting higher RPL = worse hours.
SullCrom's rates are actually not substantially higher than many V40 midlevels, and especially not to the extent Sullcrom's RPL is higher than V40s. Hiding behind terms such as "necessarily" is foolish -- this is a probability question because we do not have perfect data.

For example, my V100 6th year rates are about above $1k. Happy for some V10 associates to tell me how much higher their rates are. V10 RPL figures are about 40-50% higher, so if V10s are billing the same as us, I'd venture 6th years are billing 1450 or so. Are v10 6th years billing $1450/hr?

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 10:48 pm

2013 wrote:
Thu Apr 08, 2021 10:26 pm
Can we talk about how associates in RALEIGH and ATLANTA are getting PAID? Cravath scale in low, low, low cost of living places.

Forget special bonuses. Does this mean NY to $200? 220?
?? Most firms in Raleigh and ATL are not Cravath/$190k starting

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Re: 2021 Special Bonuses

Post by Anonymous User » Thu Apr 08, 2021 11:45 pm

Anonymous User wrote:
Thu Apr 08, 2021 10:39 pm
Anonymous User wrote:
Thu Apr 08, 2021 9:32 pm
Higher RPL doesn't necessarily mean that associates are working more hours though. Not sure where you are getting higher RPL = worse hours.
SullCrom's rates are actually not substantially higher than many V40 midlevels, and especially not to the extent Sullcrom's RPL is higher than V40s. Hiding behind terms such as "necessarily" is foolish -- this is a probability question because we do not have perfect data.

For example, my V100 6th year rates are about above $1k. Happy for some V10 associates to tell me how much higher their rates are. V10 RPL figures are about 40-50% higher, so if V10s are billing the same as us, I'd venture 6th years are billing 1450 or so. Are v10 6th years billing $1450/hr?
V5 2nd year, I bill $915 an hour so I wouldn’t be shocked if our 6th years are somewhere in that ballpark

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Re: 2021 Special Bonuses

Post by Anonymous User » Fri Apr 09, 2021 12:06 am

Anonymous User wrote:
Thu Apr 08, 2021 11:45 pm
Anonymous User wrote:
Thu Apr 08, 2021 10:39 pm
Anonymous User wrote:
Thu Apr 08, 2021 9:32 pm
Higher RPL doesn't necessarily mean that associates are working more hours though. Not sure where you are getting higher RPL = worse hours.
SullCrom's rates are actually not substantially higher than many V40 midlevels, and especially not to the extent Sullcrom's RPL is higher than V40s. Hiding behind terms such as "necessarily" is foolish -- this is a probability question because we do not have perfect data.

For example, my V100 6th year rates are about above $1k. Happy for some V10 associates to tell me how much higher their rates are. V10 RPL figures are about 40-50% higher, so if V10s are billing the same as us, I'd venture 6th years are billing 1450 or so. Are v10 6th years billing $1450/hr?
V5 2nd year, I bill $915 an hour so I wouldn’t be shocked if our 6th years are somewhere in that ballpark
wow, I was at a v10 as a paralegal 2 years ago, and the rate for 2nd year asso was 700ish per hour.

2013

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Re: 2021 Special Bonuses

Post by 2013 » Fri Apr 09, 2021 12:08 am

Anonymous User wrote:
Thu Apr 08, 2021 10:48 pm
2013 wrote:
Thu Apr 08, 2021 10:26 pm
Can we talk about how associates in RALEIGH and ATLANTA are getting PAID? Cravath scale in low, low, low cost of living places.

Forget special bonuses. Does this mean NY to $200? 220?
?? Most firms in Raleigh and ATL are not Cravath/$190k starting
It looks like it’ll start trending that way. Alston & Bird just raised in all markets, which includes Atlanta and Raleigh. K&S will have to match in Atlanta. A handful of firms are already $190k in atlanta. Then maybe Troutman and Kirkpatrick will need to match. Etc. etc. until Atlanta is at $190k.

Raleigh probably isn’t going $190, but it sure likes Atlanta will have to.

2013

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Re: 2021 Special Bonuses

Post by 2013 » Fri Apr 09, 2021 12:11 am

Anonymous User wrote:
Thu Apr 08, 2021 11:45 pm
Anonymous User wrote:
Thu Apr 08, 2021 10:39 pm
Anonymous User wrote:
Thu Apr 08, 2021 9:32 pm
Higher RPL doesn't necessarily mean that associates are working more hours though. Not sure where you are getting higher RPL = worse hours.
SullCrom's rates are actually not substantially higher than many V40 midlevels, and especially not to the extent Sullcrom's RPL is higher than V40s. Hiding behind terms such as "necessarily" is foolish -- this is a probability question because we do not have perfect data.

For example, my V100 6th year rates are about above $1k. Happy for some V10 associates to tell me how much higher their rates are. V10 RPL figures are about 40-50% higher, so if V10s are billing the same as us, I'd venture 6th years are billing 1450 or so. Are v10 6th years billing $1450/hr?
V5 2nd year, I bill $915 an hour so I wouldn’t be shocked if our 6th years are somewhere in that ballpark
Maybe this associate is at sullcrom, and this explains the insanely high RPL!

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Re: 2021 Special Bonuses

Post by Anonymous User » Fri Apr 09, 2021 12:19 am

2013 wrote:
Thu Apr 08, 2021 10:26 pm
Can we talk about how associates in RALEIGH and ATLANTA are getting PAID? Cravath scale in low, low, low cost of living places.

Forget special bonuses. Does this mean NY to $200? 220?
The move by A&B is in response to people in Atlanta getting poached by NY firms offering WFH on the Cravath scale. NY firms saw an arbitrage opportunity and jumped on it. If all the big Atlanta firms follow suit and standardize pay to the NY scale (which I think we can assume K&S certainly will but Troutman and others are less certain) then it shuts down the arbitrage opportunity. Raising salaries in NY won’t change that because the Atlanta firms will match.

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Re: 2021 Special Bonuses

Post by Anonymous User » Fri Apr 09, 2021 9:11 am

Anonymous User wrote:
Thu Apr 08, 2021 10:39 pm
Anonymous User wrote:
Thu Apr 08, 2021 9:32 pm
Higher RPL doesn't necessarily mean that associates are working more hours though. Not sure where you are getting higher RPL = worse hours.
SullCrom's rates are actually not substantially higher than many V40 midlevels, and especially not to the extent Sullcrom's RPL is higher than V40s. Hiding behind terms such as "necessarily" is foolish -- this is a probability question because we do not have perfect data.

For example, my V100 6th year rates are about above $1k. Happy for some V10 associates to tell me how much higher their rates are. V10 RPL figures are about 40-50% higher, so if V10s are billing the same as us, I'd venture 6th years are billing 1450 or so. Are v10 6th years billing $1450/hr?
Two problems with this -

(1) Revenue per lawyer ≠ average billable hours * average billing rate.

Firms have varying realization rates. There are fee caps, negotiated discounts, write-offs, contingencies, etc.

It's way better to be SullCrom doing a 100 billion dollar deal for Goldman who is drowning in cash and is less likely to dispute details in the legal bill. It would not surprise me if SullCrom is able to accrue more revenue even if Sullcrom's average billing rate and average billable hours are no different from other firms because of this. And glancing at the M&A league tables, SullCrom does tend to do more of the large-cap mega deals where legal fees are almost negligible when compared to the size of the deal.

(2) Not all sources of firm revenue are tied to billable hours.

There are firm retainer fees for high-end clients where high-end clients pay money to the firm each year even if no client work is being done on file.

Depending on practice area, there are also fee arrangements that can result in revenue not tied to hours worked. For example, a fee arrangement for an IPO might provide for $2m in fees every year for ten years in the event of a successful IPO, etc.

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Re: 2021 Special Bonuses

Post by Anonymous User » Fri Apr 09, 2021 10:01 am

Anonymous User wrote:
Fri Apr 09, 2021 9:11 am
Firms have varying realization rates. There are fee caps, negotiated discounts, write-offs, contingencies, etc.

Yes, this would have an impact but there really is no data at all on this and it's difficult to determine the magnitude of the impact in any event. In my experience, it's who is paying the legal fees directly and the complexity of the deal that dictate how upset clients are with receiving fees, though size of deal also does play a role.
(2) Not all sources of firm revenue are tied to billable hours.

There are firm retainer fees for high-end clients where high-end clients pay money to the firm each year even if no client work is being done on file.

Depending on practice area, there are also fee arrangements that can result in revenue not tied to hours worked. For example, a fee arrangement for an IPO might provide for $2m in fees every year for ten years in the event of a successful IPO, etc.
Retainers are ultimately applied to billable work that is done, right? So not really relevant. I didn't realize non-Watchtell firms did fee arrangements. That may be meaningful.

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Re: 2021 Special Bonuses

Post by Anonymous User » Fri Apr 09, 2021 10:54 am

Anonymous User wrote:
Fri Apr 09, 2021 10:01 am
Anonymous User wrote:
Fri Apr 09, 2021 9:11 am
Firms have varying realization rates. There are fee caps, negotiated discounts, write-offs, contingencies, etc.

Yes, this would have an impact but there really is no data at all on this and it's difficult to determine the magnitude of the impact in any event. In my experience, it's who is paying the legal fees directly and the complexity of the deal that dictate how upset clients are with receiving fees, though size of deal also does play a role.
(2) Not all sources of firm revenue are tied to billable hours.

There are firm retainer fees for high-end clients where high-end clients pay money to the firm each year even if no client work is being done on file.

Depending on practice area, there are also fee arrangements that can result in revenue not tied to hours worked. For example, a fee arrangement for an IPO might provide for $2m in fees every year for ten years in the event of a successful IPO, etc.
Retainers are ultimately applied to billable work that is done, right? So not really relevant. I didn't realize non-Watchtell firms did fee arrangements. That may be meaningful.
Why does every discussion on this topic: no hours req firm v billable req firm come down to RPL? RPL is just an average figure. We all know people or been at either or both type of firms. There are people at billable req firms who bill a lot and there are people at no req firms who bill below 1900. You just can't be certain what you will be billing by looking at RPL alone. It's just probability.

It's comes down to a personal decision then. What do you value more? Do you want guaranteed bonus at all cost (ie higher absolute compensation)? Or do you care more about higher expected compensation per hour even if you may end up with lower absolute compensation? Also important to note that with all these covid bonuses we are talking about difference of 100k plus for mid levels and up.

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Re: 2021 Special Bonuses

Post by Anonymous User » Fri Apr 09, 2021 11:24 am

Anonymous User wrote:
Thu Apr 08, 2021 11:45 pm
Anonymous User wrote:
Thu Apr 08, 2021 10:39 pm
Anonymous User wrote:
Thu Apr 08, 2021 9:32 pm
Higher RPL doesn't necessarily mean that associates are working more hours though. Not sure where you are getting higher RPL = worse hours.
SullCrom's rates are actually not substantially higher than many V40 midlevels, and especially not to the extent Sullcrom's RPL is higher than V40s. Hiding behind terms such as "necessarily" is foolish -- this is a probability question because we do not have perfect data.

For example, my V100 6th year rates are about above $1k. Happy for some V10 associates to tell me how much higher their rates are. V10 RPL figures are about 40-50% higher, so if V10s are billing the same as us, I'd venture 6th years are billing 1450 or so. Are v10 6th years billing $1450/hr?
V5 2nd year, I bill $915 an hour so I wouldn’t be shocked if our 6th years are somewhere in that ballpark
I'm a partner at a V100 in a non-NY major market and this is higher than my rate, FYI.

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