Bonuses Forum
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Bonuses
/What's the best way to compare firm bonuses
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Re: Bonuses
Can someone provide a link?
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Re: Bonuses
are bonuses the same firm-wide, or at least the same between offices that each pay 160k? Considering small SV satellite of a non-CA firm
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Re: Bonuses
Maybe, maybe not. Bonuses aren't even always the same for everyone in a given class year. Depends on the firm.Anonymous User wrote:are bonuses the same firm-wide, or at least the same between offices that each pay 160k? Considering small SV satellite of a non-CA firm
But bonuses generally shouldn't be a huge factor in choosing a firm
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Re: Bonuses
Why should 10-50k+ not be a huge factor? Especially down the road at 4th-5th year, some firm seem to have bonuses substantially larger than others... maybe this is only true outside of NY though? (didnt really look at firms there)bk1 wrote:Maybe, maybe not. Bonuses aren't even always the same for everyone in a given class year. Depends on the firm.Anonymous User wrote:are bonuses the same firm-wide, or at least the same between offices that each pay 160k? Considering small SV satellite of a non-CA firm
But bonuses generally shouldn't be a huge factor in choosing a firm
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Re: Bonuses
Bonuses should definitely be a factor. If you're a person who believes that everyone should be treated equal, regardless of their work ethic/product, then the Cravath bonus model might be good for you.
If you're someone who feels that you should make more money if you out-bill your colleague by 200 hours, then go to a firm that compensates based on hours/quality of work.
If you're someone who feels that you should make more money if you out-bill your colleague by 200 hours, then go to a firm that compensates based on hours/quality of work.
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Re: Bonuses
Off the top of my head:Anonymous User wrote:Why should 10-50k+ not be a huge factor? Especially down the road at 4th-5th year, some firm seem to have bonuses substantially larger than others... maybe this is only true outside of NY though? (didnt really look at firms there)
- Bonus amounts are very minimal compared to overall comp and after taxes are generally not that large.
- Most people aren't going to be in biglaw that long so they're not likely to get the larger midlevel bonuses for more than a year or two.
- Bonus amounts fluctuate yearly so you can't just assume because firm X beat the Cravath scale before that it will continue do so.
- The difference in amounts between firms doesn't tend to be huge.
- Other factors such as strength in your preferred practice area or how well you get along with your future coworkers should be more important, imo.