Fall bonuses Forum

[Lancair]

I am just praying that after CSM announces 2019 cravath scale + fall bonus for 2020 EOY, DPW or some other fall bonus firm announces that as their EOY bonus as well.

[Anonymous User]

I am just praying that after CSM announces 2019 cravath scale + fall bonus for 2020 EOY, DPW or some other fall bonus firm announces that as their EOY bonus as well.

The ultimate troll move?

[Auxilio]

I am just praying that after CSM announces 2019 cravath scale + fall bonus for 2020 EOY, DPW or some other fall bonus firm announces that as their EOY bonus as well.

The ultimate troll move?

Obviously then Cravath matches DPW again, and then DPW matches Cravath again, and eventually associates are walking away with more than partners. There's no way this doesn't happen, right?

[cornerstone]

I am just praying that after CSM announces 2019 cravath scale + fall bonus for 2020 EOY, DPW or some other fall bonus firm announces that as their EOY bonus as well.

The ultimate troll move?

No, anoning this is the ultimate troll move.

[Anonymous User]

Kirkland is laying off a bunch of staff. Morale is very, very low. We know the firm is doing quite well so there's really only two reasons for what's going on: (1) the firm realized giving fall bonuses and then firing a bunch of non-lawyers would be insensitive, so they pushed the bonuses to year end; (2) the firm has become even more ruthlessly efficient at maximizing PPP and believes it need not pay fall bonuses to retain the kinds of associates that it needs (and staff layoffs fit with this, too). If the reality turns out to be (2), there will be a mass associate exodus in Q1 2021 - I have no doubt about this based on the conversations I'm hearing.

[daedalus2309]

Kirkland is laying off a bunch of staff. Morale is very, very low. We know the firm is doing quite well so there's really only two reasons for what's going on: (1) the firm realized giving fall bonuses and then firing a bunch of non-lawyers would be insensitive, so they pushed the bonuses to year end; (2) the firm has become even more ruthlessly efficient at maximizing PPP and believes it need not pay fall bonuses to retain the kinds of associates that it needs (and staff layoffs fit with this, too). If the reality turns out to be (2), there will be a mass associate exodus in Q1 2021 - I have no doubt about this based on the conversations I'm hearing.

Staff layoffs seem to be an industry thing. Skadden and I believe Sullcrom (maybe others) laid off staff this year. My guess: significant chance this is part of general BigLaw shittiness but doesn’t necessarily reflect bonus intentions (although I do take your point about optics playing a role).

[parkslope]

Kirkland is laying off a bunch of staff. Morale is very, very low. We know the firm is doing quite well so there's really only two reasons for what's going on: (1) the firm realized giving fall bonuses and then firing a bunch of non-lawyers would be insensitive, so they pushed the bonuses to year end; (2) the firm has become even more ruthlessly efficient at maximizing PPP and believes it need not pay fall bonuses to retain the kinds of associates that it needs (and staff layoffs fit with this, too). If the reality turns out to be (2), there will be a mass associate exodus in Q1 2021 - I have no doubt about this based on the conversations I'm hearing.

Staff layoffs seem to be an industry thing. Skadden and I believe Sullcrom (maybe others) laid off staff this year. My guess: significant chance this is part of general BigLaw shittiness but doesn’t necessarily reflect bonus intentions (although I do take your point about optics playing a role).

I don't think it's a bonus thing. Sullcrom laid people off and still paid the bonuses. I think the staff layoffs are just due to offices being closed, so a lot of in-person stuff like document production isn't needed. But I'm not sure what will happen when firms reopen offices sometime next year. Someone will need to run the copy machines then.

[RaceJudicata]

Kirkland is laying off a bunch of staff. Morale is very, very low. We know the firm is doing quite well so there's really only two reasons for what's going on: (1) the firm realized giving fall bonuses and then firing a bunch of non-lawyers would be insensitive, so they pushed the bonuses to year end; (2) the firm has become even more ruthlessly efficient at maximizing PPP and believes it need not pay fall bonuses to retain the kinds of associates that it needs (and staff layoffs fit with this, too). If the reality turns out to be (2), there will be a mass associate exodus in Q1 2021 - I have no doubt about this based on the conversations I'm hearing.

Staff layoffs seem to be an industry thing. Skadden and I believe Sullcrom (maybe others) laid off staff this year. My guess: significant chance this is part of general BigLaw shittiness but doesn’t necessarily reflect bonus intentions (although I do take your point about optics playing a role).

I don't think it's a bonus thing. Sullcrom laid people off and still paid the bonuses. I think the staff layoffs are just due to offices being closed, so a lot of in-person stuff like document production isn't needed. But I'm not sure what will happen when firms reopen offices sometime next year. Someone will need to run the copy machines then.

I think it’s firm realizing they no longer need the large number of staff that they needed 15+ years ago. Pandemic likely accelerated the trend, but has been in the works (at least at my firm) over last few years. Not to be too cynical, but I don’t think these jobs will come back post-pandemic.

[Anonymous User]

Kirkland is laying off a bunch of staff. Morale is very, very low. We know the firm is doing quite well so there's really only two reasons for what's going on: (1) the firm realized giving fall bonuses and then firing a bunch of non-lawyers would be insensitive, so they pushed the bonuses to year end; (2) the firm has become even more ruthlessly efficient at maximizing PPP and believes it need not pay fall bonuses to retain the kinds of associates that it needs (and staff layoffs fit with this, too). If the reality turns out to be (2), there will be a mass associate exodus in Q1 2021 - I have no doubt about this based on the conversations I'm hearing.

Staff layoffs seem to be an industry thing. Skadden and I believe Sullcrom (maybe others) laid off staff this year. My guess: significant chance this is part of general BigLaw shittiness but doesn’t necessarily reflect bonus intentions (although I do take your point about optics playing a role).

Some firms were giving staff little bonuses in order to give them a little something during this crappy year. KE is giving no fall bonuses and is firing staff.

Even if other firms were just as bad, and even if KE trues us up at the end of the year, it still feels like a shitty place right now. The firm can't be lacking in money. I'm not sure how slow corporate etc. is but litigation is just as busy as normal and I'm sure the BK group is doing immense hours.

[Anonymous User]

Kirkland is laying off a bunch of staff. Morale is very, very low. We know the firm is doing quite well so there's really only two reasons for what's going on: (1) the firm realized giving fall bonuses and then firing a bunch of non-lawyers would be insensitive, so they pushed the bonuses to year end; (2) the firm has become even more ruthlessly efficient at maximizing PPP and believes it need not pay fall bonuses to retain the kinds of associates that it needs (and staff layoffs fit with this, too). If the reality turns out to be (2), there will be a mass associate exodus in Q1 2021 - I have no doubt about this based on the conversations I'm hearing.

Staff layoffs seem to be an industry thing. Skadden and I believe Sullcrom (maybe others) laid off staff this year. My guess: significant chance this is part of general BigLaw shittiness but doesn’t necessarily reflect bonus intentions (although I do take your point about optics playing a role).

Some firms were giving staff little bonuses in order to give them a little something during this crappy year. KE is giving no fall bonuses and is firing staff. Even if other firms were just as bad, and even if KE trues us up at the end of the year, it still feels like a shitty place right now. The firm can't be lacking in money. I'm not sure how slow corporate etc. is but litigation is just as busy as normal and I'm sure the BK group is doing immense hours.

I don't think that firing staff is an indicator of anything. Stealth firing staff en masse like Kirkland is doing right now is just cruel. Can confirm that the firm is as busy as ever, my peers and I were billing 250+ hours every month during this summer and there's no signs of this slowing down. Not getting fall bonuses were a slap in the face.

[Anonymous User]

Kirkland is laying off a bunch of staff. Morale is very, very low. We know the firm is doing quite well so there's really only two reasons for what's going on: (1) the firm realized giving fall bonuses and then firing a bunch of non-lawyers would be insensitive, so they pushed the bonuses to year end; (2) the firm has become even more ruthlessly efficient at maximizing PPP and believes it need not pay fall bonuses to retain the kinds of associates that it needs (and staff layoffs fit with this, too). If the reality turns out to be (2), there will be a mass associate exodus in Q1 2021 - I have no doubt about this based on the conversations I'm hearing.

Staff layoffs seem to be an industry thing. Skadden and I believe Sullcrom (maybe others) laid off staff this year. My guess: significant chance this is part of general BigLaw shittiness but doesn’t necessarily reflect bonus intentions (although I do take your point about optics playing a role).

Some firms were giving staff little bonuses in order to give them a little something during this crappy year. KE is giving no fall bonuses and is firing staff. Even if other firms were just as bad, and even if KE trues us up at the end of the year, it still feels like a shitty place right now. The firm can't be lacking in money. I'm not sure how slow corporate etc. is but litigation is just as busy as normal and I'm sure the BK group is doing immense hours.

I don't think that firing staff is an indicator of anything. Stealth firing staff en masse like Kirkland is doing right now is just cruel. Can confirm that the firm is as busy as ever, my peers and I were billing 250+ hours every month during this summer and there's no signs of this slowing down. Not getting fall bonuses were a slap in the face.

Agree - it is obviously not a sign of finances. But sends a signal that KE is ready to ruthlessly cut its bottom line. I know from talking to a lot of people that KE needs to knock bonuses out of the park this year in order for a bunch of us not to leave after the new year.

[Anonymous User]

Kirkland is laying off a bunch of staff. Morale is very, very low. We know the firm is doing quite well so there's really only two reasons for what's going on: (1) the firm realized giving fall bonuses and then firing a bunch of non-lawyers would be insensitive, so they pushed the bonuses to year end; (2) the firm has become even more ruthlessly efficient at maximizing PPP and believes it need not pay fall bonuses to retain the kinds of associates that it needs (and staff layoffs fit with this, too). If the reality turns out to be (2), there will be a mass associate exodus in Q1 2021 - I have no doubt about this based on the conversations I'm hearing.

Staff layoffs seem to be an industry thing. Skadden and I believe Sullcrom (maybe others) laid off staff this year. My guess: significant chance this is part of general BigLaw shittiness but doesn’t necessarily reflect bonus intentions (although I do take your point about optics playing a role).

Some firms were giving staff little bonuses in order to give them a little something during this crappy year. KE is giving no fall bonuses and is firing staff. Even if other firms were just as bad, and even if KE trues us up at the end of the year, it still feels like a shitty place right now. The firm can't be lacking in money. I'm not sure how slow corporate etc. is but litigation is just as busy as normal and I'm sure the BK group is doing immense hours.

I don't think that firing staff is an indicator of anything. Stealth firing staff en masse like Kirkland is doing right now is just cruel. Can confirm that the firm is as busy as ever, my peers and I were billing 250+ hours every month during this summer and there's no signs of this slowing down. Not getting fall bonuses were a slap in the face.

Agree - it is obviously not a sign of finances. But sends a signal that KE is ready to ruthlessly cut its bottom line. I know from talking to a lot of people that KE needs to knock bonuses out of the park this year in order for a bunch of us not to leave after the new year.

[Anonymous User]

No one is leaving K&E because of staff layoffs. It is unfortunate that they have occurred but not surprising given the lack of in-person work.

If they don't pay fall bonuses and people are as busy as they have been, then yes people might leave.

[Auxilio]

I think we should all stay replying to the dozens of recruiter emails advertising firms that pay "Cravath scale" that we're only interested in market paying firms.

[12YrsAnAssociate]

I think we should all stay replying to the dozens of recruiter emails advertising firms that pay "Cravath scale" that we're only interested in market paying firms.

Grade A. Maybe bcc csmrecruit@cravath.com on the email, though, to make sure the message hits the target.

[Anonymous User]

Latham bonus is out.

[Anonymous User]

Latham just matched DPW.

[NoLongerALurker]

Latham coming around to dutifully remind fresh graduates and laterals that CravaTTTh, KirklandTTT and SkaTTTen are all overraTTTed.

[Usernameavailable]

Latham just matched DPW.

Matched on the fall bonus or matched as in announced year end bonus + DPW fall bonus? It seems really close to year end to match fall bonus at this point.

[Anonymous User]

Latham just matched DPW.

Matched on the fall bonus or matched as in announced year end bonus + DPW fall bonus? It seems really close to year end to match fall bonus at this point.

Will pay Nov 30 based on annualized hours to date.

[Anonymous User]

Latham just matched DPW.

Matched on the fall bonus or matched as in announced year end bonus + DPW fall bonus? It seems really close to year end to match fall bonus at this point.

Fall bonus paid November 30

[Anonymous User]

Latham bonus announcement also described a new firm wide “giving thanks” initiative whereby the firm will make an initial $1,000,000 donation to communities in need and match up to an additional $1,000,000 in donations made by firm personnel and retired partners to anti-hunger charities.

A lot of socially-conscious associates are proud to be working at LW today.

[Anonymous User]

How’d other firms pay out to associates under pace? Been a rougher year for me hours-wise but just starting to get busy again and hoping it’s prorated instead of 0

[Dcc617]

Latham coming around to dutifully remind fresh graduates and laterals that CravaTTTh, KirklandTTT and SkaTTTen are all overraTTTed.

Wow, that makes Kirkland look terrible.

[esther0123]

Latham bonus announcement also described a new firm wide “giving thanks” initiative whereby the firm will make an initial $1,000,000 donation to communities in need and match up to an additional $1,000,000 in donations made by firm personnel and retired partners to anti-hunger charities.

A lot of socially-conscious associates are proud to be working at LW today.

Well this also makes PW look really bad, given how PW said it couldn't issue the fall bonus because it would look unethical to do so in a pandemic. Latham's approach seems to be the solution to that "optics" issue while taking care of its own -- give the fall bonus and THEN top it off with a large donation to a charity.... you know.