2015 Biglaw Boneus Thread Forum

[Anonymous User]

New serious prediction:

nobody announces and we end up actually really not getting bonuses.

Firms say "we're market followers, and that's just the market this year."

I then quit this shtty profession.

its pretty obvious Firms are scared of high bonuses + high base combo.. u know Cravath announces 40k to first years then Skadden goes 190k with 10k bonus

Had a V10 Partner tell me the same thing. Basically said no firm wanted to announce DPW or higher (the number he gave was 10k higher) and then get trumped by another firm announcing a salary bump and somewhat smaller bonuses. Glad to see there is no collusion here.....

[lawstudent123xyz]

Conscious Parallelism

[charliekelly33]

NY to 190: http://www.wsj.com/articles/2015-become ... 1449187101

[Johann]

What if partners Realized we were just working there until loans ere paid off so increasing comp was creating a weird curve actually causing more people to leave biglaw. And they are making no bonus the new norm?

Confetti and all you economic supply demand newbs - ever heard of the Laffer curve?

[Themaddh]

New serious prediction:

nobody announces and we end up actually really not getting bonuses.

Firms say "we're market followers, and that's just the market this year."

I then quit this shtty profession.

its pretty obvious Firms are scared of high bonuses + high base combo.. u know Cravath announces 40k to first years then Skadden goes 190k with 10k bonus

Had a V10 Partner tell me the same thing. Basically said no firm wanted to announce DPW or higher (the number he gave was 10k higher) and then get trumped by another firm announcing a salary bump and somewhat smaller bonuses. Glad to see there is no collusion here.....

Please tell me you don't work at Kirkland...

[dwyf]

Skadden is over a trillion in deal volume and just got called white shoe in the paper of record.

I nominate them to go to 190 + bonus.

Hard to cut bonuses too much, people rely on that lump sum cash infusion.

Flat bonus now with a salary raise to start in September.

[Anonymous User]

Joe Flom dies all over again every time someone calls Skadden white shoe

[smaug]

everyone ready for the 5 p.m. #lowbonus ???

[Abbie Doobie]

everyone ready for the 5 p.m. #lownobonus ???

[Big Shrimpin]

New serious prediction:

nobody announces and we end up actually really not getting bonuses.

Firms say "we're market followers, and that's just the market this year."

I then quit this shtty profession.

its pretty obvious Firms are scared of high bonuses + high base combo.. u know Cravath announces 40k to first years then Skadden goes 190k with 10k bonus

Logic does not compute

Why would any firm lock itself into highly across board base pay/fixed cost when u can wait and see each year how little the "market" settles in bonuses/variable cost/make excuses not to pay out bonuses in first place/etc.?

PSA: Nobonuses. After like 8 years, firms have wised up and will no longer be paying because they've realized that so long as nobody moves, no bonuses paid, new status quo. Deal with it.

[TLSModBot]

New serious prediction:

nobody announces and we end up actually really not getting bonuses.

Firms say "we're market followers, and that's just the market this year."

I then quit this shtty profession.

its pretty obvious Firms are scared of high bonuses + high base combo.. u know Cravath announces 40k to first years then Skadden goes 190k with 10k bonus

Logic does not compute

Why would any firm lock itself into highly across board base pay/fixed cost when u can wait and see each year how little the "market" settles in bonuses/variable cost/make excuses not to pay out bonuses in first place/etc.?

PSA: Nobonuses. After like 8 years, firms have wised up and will no longer be paying because they've realized that so long as nobody moves, no bonuses paid, new status quo. Deal with it.

Aren't bonuses usually announced before any base pay movement would be? Makes sense that firms would be reticent to go high-bonus if there's a serious chance of salary increase down the line, but they couldn't delay bonus news too long given that the salary bump wouldn't be on the same deadline as bonus announcements are.

[Big Shrimpin]

Depends on firm. I think at least some places tell you both at same time.

[TLSModBot]

Depends on firm. I think at least some places tell you both give you neither at same time.

Fixed for clarification

[IrwinM.Fletcher]

STB announced the 2007 salary increase in January.

I don't think there's much risk of getting trumped by a December base hike announcement since (a) it's not happening, and (b) if it did happen, it would apply only to 2016 comp and this bonus season is irrelevant to that cycle if base changes.

[Big Shrimpin]

Depends on firm. I think at least some places tell you both give you neither at same time.

Fixed for clarification

MAJOR oversight in my part TYTYTY

[Monochromatic Oeuvre]

[Cobretti]

New serious prediction:

nobody announces and we end up actually really not getting bonuses.

Firms say "we're market followers, and that's just the market this year."

I then quit this shtty profession.

its pretty obvious Firms are scared of high bonuses + high base combo.. u know Cravath announces 40k to first years then Skadden goes 190k with 10k bonus

Logic does not compute

Why would any firm lock itself into highly across board base pay/fixed cost when u can wait and see each year how little the "market" settles in bonuses/variable cost/make excuses not to pay out bonuses in first place/etc.?

PSA: Nobonuses. After like 8 years, firms have wised up and will no longer be paying because they've realized that so long as nobody moves, no bonuses paid, new status quo. Deal with it.

A reason to increase base pay is this is an industry where people entering it assume much more risk in the form of debt than industries that rely more heavily on bonuses (e.g. banking/consulting with 2 year grad schools). The firm can shift some of the risk to itself to incentivize people to enter the industry.

FWIW the longer this delay goes, the more I'm starting to think we're in a mexican standoff. knock on wood

[jkpolk]

Mods plz change title to 2015 Big Law Boneus Thread

[Big Shrimpin]

New serious prediction:

nobody announces and we end up actually really not getting bonuses.

Firms say "we're market followers, and that's just the market this year."

I then quit this shtty profession.

its pretty obvious Firms are scared of high bonuses + high base combo.. u know Cravath announces 40k to first years then Skadden goes 190k with 10k bonus

Logic does not compute

Why would any firm lock itself into highly across board base pay/fixed cost when u can wait and see each year how little the "market" settles in bonuses/variable cost/make excuses not to pay out bonuses in first place/etc.?

PSA: Nobonuses. After like 8 years, firms have wised up and will no longer be paying because they've realized that so long as nobody moves, no bonuses paid, new status quo. Deal with it.

A reason to increase base pay is this is an industry where people entering it assume much more risk in the form of debt than industries that rely more heavily on bonuses (e.g. banking/consulting with 2 year grad schools). The firm can shift some of the risk to itself to incentivize people to enter the industry.

FWIW the longer this delay goes, the more I'm starting to think we're in a mexican standoff. knock on wood

Failure to state a claim.

Your analysis assumes that ppl are dissuaded from entering biglaw due to risk but fails to point out the infinite supply of prospective biglaw entrants.

[Themaddh]

New serious prediction:

nobody announces and we end up actually really not getting bonuses.

Firms say "we're market followers, and that's just the market this year."

I then quit this shtty profession.

its pretty obvious Firms are scared of high bonuses + high base combo.. u know Cravath announces 40k to first years then Skadden goes 190k with 10k bonus

Logic does not compute

Why would any firm lock itself into highly across board base pay/fixed cost when u can wait and see each year how little the "market" settles in bonuses/variable cost/make excuses not to pay out bonuses in first place/etc.?

PSA: Nobonuses. After like 8 years, firms have wised up and will no longer be paying because they've realized that so long as nobody moves, no bonuses paid, new status quo. Deal with it.

A reason to increase base pay is this is an industry where people entering it assume much more risk in the form of debt than industries that rely more heavily on bonuses (e.g. banking/consulting with 2 year grad schools). The firm can shift some of the risk to itself to incentivize people to enter the industry.

FWIW the longer this delay goes, the more I'm starting to think we're in a mexican standoff. knock on wood

This has been a Mexican standoff since Tuesday

[Monochromatic Oeuvre]

Mods plz change title to 2015 Big Law Boneus Thread

I got you bro

[Big Shrimpin]

Mods plz change title to 2015 Big Law Boneus Thread

I got you bro

TYTYTYTY

tfw biglaw is in a mexican standoff and you never get a bonus/salary raise

FEELS BAD MAN

(insert Pepe)

[Desert Fox]

[mvp99]

Holy shit, my firm is having a reverse auction. 10% of associate spots are eliminated. We have to bid what our total comp would be to keep our job. Lowest 90% keep the job at the new salary rate. U of C grades are saying they are going to bid 45k.

[Anonymous User]

Hold on to your hats folks...