Fall bonuses Forum

[Anonymous User]

Cleary announces no fall bonus, hints at EOY bump -- "The Firm remains committed to paying competitive compensation, including bonuses, to our associates." Personally I'm fine with it because the managing partner sent us a brave and thoughtful email this morning about National Coming Out Day and the Human Rights Campaign (who would have received my bonus anyway).

I hope the last part is sarcasm. If not you sound like the Paul Weiss mid-level and your attitude perfectly encapsulates modern "woke" capitalism--using social justice issues as a cover to mask greed.

I hope we tumble down the rankings.

[Anonymous User]

Can we please limit the posts in this thread to actual bonus announcements or non-announcements.

[Popopo2019]

Cleary announces no fall bonus, hints at EOY bump -- "The Firm remains committed to paying competitive compensation, including bonuses, to our associates." Personally I'm fine with it because the managing partner sent us a brave and thoughtful email this morning about National Coming Out Day and the Human Rights Campaign (who would have received my bonus anyway).

I hope the last part is sarcasm. If not you sound like the Paul Weiss mid-level and your attitude perfectly encapsulates modern "woke" capitalism--using social justice issues as a cover to mask greed.

I hope we tumble down the rankings.

Pretty sure he/she was being sarcastic and also thank you for introducing me to the term woke capitalism. That’s perfect.

[shibonx69]

someone not getting that as sarcasm is the most big law shit ever

[TUwave]

lol at the Goodwin (badlose) associate who's like, it's worth it to give up 10k + in bonuses because the firm will buy me 3 or 4 $300 plane tickets a year

Is that really how you read that? I thought he was responding to people saying that the firm "nickels and dimes."

[nahumya]

Thanks, Wilkie. Way to bring some good news back.

[JusticeJackson]

Willkie paying DPW-style fall bonuses. Expect confirmation on ATL within the hour

Any word on Wilkie’s interoffice travel and airplane seat upgrade practice?

[Pulsar]

Wilkie associates BALLIN' in FIRST CLASS DELTA Cravattth associates BAWLIN' in last-row SpiriTTT

[lonerider]

Can we please limit the posts in this thread to actual bonus announcements or non-announcements.

As a burned out 6th year I actually really appreciate the mid-level bitching and I hope it continues. It’s therapeutic.

[thelawyler]

Willkie paying DPW-style fall bonuses. Expect confirmation on ATL within the hour

Any word on Wilkie’s interoffice travel and airplane seat upgrade practice?

I mean, I didn't know about Goodwin's travel policy. Sounds pretty nice tbh for those of us with friends all over the country.

[BigLawer]

Does anyone actually believe that Cravath, K&E, Skadden, other firms that pay "top of market" are going to come out with year end bonuses and just be like, special bonus will be ignored, we are paying less than other top firms this year? The reactions in this thread are so irrational I don't think anyone here actually believes firms won't make it whole, they are just trying to find something to complain about. No way Cravath decides that paying its associates another sub $40k each is too hard and they would rather no longer say they are a market leader. Paying "extra" bonuses 2 months before year end bonuses just doesn't really make sense. There is no recruiting happening during those 3 months, there is literally NO incentive to pay now instead of year end. And yes, firms with big restructuring practices (who are doing well) probably don't want to boast about record years, special "Covid" bonuses from our clients' struggles, etc.

Another example is Kirkland, its one saving grace from being a sweatshop is that their associates are very well compensated (top of the market bonuses or better every year), are they going to give up that perk over sub $40k bonuses?! People need to calm down, bonuses will be announced in like 6 weeks and those that haven't paid special bonuses will include them in their scale. Those that paid will then have to figure out wording like "our bonus is that minus bonuses already paid during 2020". It's all going to be the same. My hope is that this actually increases the year-to-year scale rather than "special bonuses" because if cravath sets the new market bonuses at last year plus special bonus, then 2021 bonuses may just then continue at a higher level.

[Anonymous User]

Almost assuredly they will match unless any huge event (i.e. election, second covid wave) tanks markets and expected workflow. They deserve shit for the potential cop-out.

[Auxilio]

Does anyone actually believe that Cravath, K&E, Skadden, other firms that pay "top of market" are going to come out with year end bonuses and just be like, special bonus will be ignored, we are paying less than other top firms this year? The reactions in this thread are so irrational I don't think anyone here actually believes firms won't make it whole, they are just trying to find something to complain about. No way Cravath decides that paying its associates another sub $40k each is too hard and they would rather no longer say they are a market leader. Paying "extra" bonuses 2 months before year end bonuses just doesn't really make sense. There is no recruiting happening during those 3 months, there is literally NO incentive to pay now instead of year end. And yes, firms with big restructuring practices (who are doing well) probably don't want to boast about record years, special "Covid" bonuses from our clients' struggles, etc.

Another example is Kirkland, its one saving grace from being a sweatshop is that their associates are very well compensated (top of the market bonuses or better every year), are they going to give up that perk over sub $40k bonuses?! People need to calm down, bonuses will be announced in like 6 weeks and those that haven't paid special bonuses will include them in their scale. Those that paid will then have to figure out wording like "our bonus is that minus bonuses already paid during 2020". It's all going to be the same. My hope is that this actually increases the year-to-year scale rather than "special bonuses" because if cravath sets the new market bonuses at last year plus special bonus, then 2021 bonuses may just then continue at a higher level.

Do you think they're going to give the fall bonus portion to all associates, regardless of hours, like the DPW scale.

I had basically zeroes for two months, I'm not getting my normal bonus, but if I was getting equal pay to DWP I'd have gotten this one.

[BigLawer]

Does anyone actually believe that Cravath, K&E, Skadden, other firms that pay "top of market" are going to come out with year end bonuses and just be like, special bonus will be ignored, we are paying less than other top firms this year? The reactions in this thread are so irrational I don't think anyone here actually believes firms won't make it whole, they are just trying to find something to complain about. No way Cravath decides that paying its associates another sub $40k each is too hard and they would rather no longer say they are a market leader. Paying "extra" bonuses 2 months before year end bonuses just doesn't really make sense. There is no recruiting happening during those 3 months, there is literally NO incentive to pay now instead of year end. And yes, firms with big restructuring practices (who are doing well) probably don't want to boast about record years, special "Covid" bonuses from our clients' struggles, etc.

Another example is Kirkland, its one saving grace from being a sweatshop is that their associates are very well compensated (top of the market bonuses or better every year), are they going to give up that perk over sub $40k bonuses?! People need to calm down, bonuses will be announced in like 6 weeks and those that haven't paid special bonuses will include them in their scale. Those that paid will then have to figure out wording like "our bonus is that minus bonuses already paid during 2020". It's all going to be the same. My hope is that this actually increases the year-to-year scale rather than "special bonuses" because if cravath sets the new market bonuses at last year plus special bonus, then 2021 bonuses may just then continue at a higher level.

Do you think they're going to give the fall bonus portion to all associates, regardless of hours, like the DPW scale.

I had basically zeroes for two months, I'm not getting my normal bonus, but if I was getting equal pay to DWP I'd have gotten this one.

That is a fair point, no I don't think you will get it. I think if you are chillin at home watching netflix collecting market pay it is pretty hard to complain about not getting more money. I think this is harder on people who have been getting killed or at least not seen more work and haven't got the bonus.

[thelawyler]

Does anyone actually believe that Cravath, K&E, Skadden, other firms that pay "top of market" are going to come out with year end bonuses and just be like, special bonus will be ignored, we are paying less than other top firms this year? The reactions in this thread are so irrational I don't think anyone here actually believes firms won't make it whole, they are just trying to find something to complain about. No way Cravath decides that paying its associates another sub $40k each is too hard and they would rather no longer say they are a market leader. Paying "extra" bonuses 2 months before year end bonuses just doesn't really make sense. There is no recruiting happening during those 3 months, there is literally NO incentive to pay now instead of year end. And yes, firms with big restructuring practices (who are doing well) probably don't want to boast about record years, special "Covid" bonuses from our clients' struggles, etc.

Another example is Kirkland, its one saving grace from being a sweatshop is that their associates are very well compensated (top of the market bonuses or better every year), are they going to give up that perk over sub $40k bonuses?! People need to calm down, bonuses will be announced in like 6 weeks and those that haven't paid special bonuses will include them in their scale. Those that paid will then have to figure out wording like "our bonus is that minus bonuses already paid during 2020". It's all going to be the same. My hope is that this actually increases the year-to-year scale rather than "special bonuses" because if cravath sets the new market bonuses at last year plus special bonus, then 2021 bonuses may just then continue at a higher level. Even though the people who were busy had less free time, they had job security.

Do you think they're going to give the fall bonus portion to all associates, regardless of hours, like the DPW scale.

I had basically zeroes for two months, I'm not getting my normal bonus, but if I was getting equal pay to DWP I'd have gotten this one.

That is a fair point, no I don't think you will get it. I think if you are chillin at home watching netflix collecting market pay it is pretty hard to complain about not getting more money. I think this is harder on people who have been getting killed or at least not seen more work and haven't got the bonus.

No, you were at home for two months think you were getting fired with nobody to hire you with crushing debt and a huge lease. To think it was a relaxing break is a joke. It was also very stressful to be slow.

EDIT: and many of my friends DID get fired in V10 and V20 firms. So there's that.

[Anonymous User]

Almost assuredly they will match unless any huge event (i.e. election, second covid wave) tanks markets and expected workflow. They deserve shit for the potential cop-out.

At this point, I don't see much support for "Almost assuredly"

V10 firms could simply opt out of giving the bonus and associates will just have to eat it like always. They simply do not care.

[Anonymous User]

Ropes sent an email suggesting that fall bonuses will be taken into account at year end, but didn’t specify whether there would be an hours requirement.

[2013]

Ropes sent an email suggesting that fall bonuses will be taken into account at year end, but didn’t specify whether there would be an hours requirement.

Doesn’t ropes have individualized bonuses after like 3 years?

[Anonymous User]

Ropes sent an email suggesting that fall bonuses will be taken into account at year end, but didn’t specify whether there would be an hours requirement.

Doesn’t ropes have individualized bonuses after like 3 years?

Technically yes, though they generally track the Cravath market bonuses. They still have a 1900 hour requirement (though I've heard of folks not meeting that threshold and still getting either full bonus or a portion) and they do give out amounts over market for high billers.

[Anonymous User]

Literally the most tone deaf associate town hall at Cleary just now. Admitted getting "frustrated" messages from associates re: bonuses, says competitive means "market" (whatever that means) and they will "consider" supplemental bonuses that have been paid, and that this decision has "nothing to do with the firm's finances." So done with this place.

[Anonymous User]

Literally the most tone deaf associate town hall at Cleary just now. Admitted getting "frustrated" messages from associates re: bonuses, says competitive means "market" (whatever that means) and they will "consider" supplemental bonuses that have been paid, and that this decision has "nothing to do with the firm's finances." So done with this place.

What a joke. The whole thing felt like a slap in the face.

[Anonymous User]

Literally the most tone deaf associate town hall at Cleary just now. Admitted getting "frustrated" messages from associates re: bonuses, says competitive means "market" (whatever that means) and they will "consider" supplemental bonuses that have been paid, and that this decision has "nothing to do with the firm's finances." So done with this place.

What a joke. The whole thing felt like a slap in the face.

Definitely. And they still won’t give us a budget to buy a printer and phone.

[Anonymous User]

Literally the most tone deaf associate town hall at Cleary just now. Admitted getting "frustrated" messages from associates re: bonuses, says competitive means "market" (whatever that means) and they will "consider" supplemental bonuses that have been paid, and that this decision has "nothing to do with the firm's finances." So done with this place.

What a joke. The whole thing felt like a slap in the face.

Definitely. And they still won’t give us a budget to buy a printer and phone.

PW has a town hall tomorrow too so will report back

[Anonymous User]

Ropes sent an email suggesting that fall bonuses will be taken into account at year end, but didn’t specify whether there would be an hours requirement.

Doesn’t ropes have individualized bonuses after like 3 years?

Technically yes, though they generally track the Cravath market bonuses. They still have a 1900 hour requirement (though I've heard of folks not meeting that threshold and still getting either full bonus or a portion) and they do give out amounts over market for high billers.

I've had a partner tell me, at least in the Ropes New York office, that the vast majority of associates get market or just below market (think 10% adjustment or so for having 1700 hour or something), and about 20-25% get slightly above market, and a very small minority of about 10% or so get substantially below. That sounds about right based on when I ask around. Whether he was just speculating himself, no idea as I know he's not on the comp committee.

[Anonymous User]

Cleary just announced that it would "pay bonuses on our regular year end schedule. The Firm remains committed to paying competitive compensation, including bonuses, to our associates."

I'm leaving in Jan.if we don't include fall bonuses at EOY.

Word on the street is DPW needs help in all corporate groups. Maybe fall bonuses were their way of making folks like the above want to leave. If other firms don't true up in December, it will work