Hey all, I'm having trouble finding recent information on Munger's bonus structure. From best I can tell, they offer lockstep bonuses for first years, and individualized/non-lockstep bonuses for the rest.
Does anyone know what the lockstep first year bonus is, and whether the individualized bonuses are competitive with the new Davis Polk NY bonus rate? Even better, does anyone know the approx hours you need to post to receive a DPW-NY rate bonus?
Also, does their base compensation track NY market rate?
Munger's Comp Structure Forum
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Re: Munger's Comp Structure
Base comp for associates is lock step.
First two years bonuses will match DPW. (The silly thing is, since nearly all the litigators clerk, a lot of folks come in as third years anyway).
After that, it's a holistic review conducted by a committee that considers your work quality, your hours, business you've brought in, ect. There is no hours threshold necessary to receive a bonus, and bonuses aren't staggered by hours a la Quinn Emmanuel, but they are considered as one factor. Most attorneys seem to hit the 1800-2100 area, and of course your billables get noticeably higher on months you're on trial.
You're more likely to receive a bonus above the dpw scale than below it, although many people float at or just above it. It's not a big source of tension in the firm, but also not a bjg enough deal to make it a specific draw (for example, I wouldn't consider MTO a traditionally "above market firm," even if by the nature of the bonus structure and short partnership track, you're likely to make more money dependent on a ton of factors).
First two years bonuses will match DPW. (The silly thing is, since nearly all the litigators clerk, a lot of folks come in as third years anyway).
After that, it's a holistic review conducted by a committee that considers your work quality, your hours, business you've brought in, ect. There is no hours threshold necessary to receive a bonus, and bonuses aren't staggered by hours a la Quinn Emmanuel, but they are considered as one factor. Most attorneys seem to hit the 1800-2100 area, and of course your billables get noticeably higher on months you're on trial.
You're more likely to receive a bonus above the dpw scale than below it, although many people float at or just above it. It's not a big source of tension in the firm, but also not a bjg enough deal to make it a specific draw (for example, I wouldn't consider MTO a traditionally "above market firm," even if by the nature of the bonus structure and short partnership track, you're likely to make more money dependent on a ton of factors).
