that feeling when your bonus hits Forum

[Anonymous User]

3rd year Biglaw bonus just hit 10 minutes ago. $38,000 and change after tax ($55,000 gross). Plus $8,000 post-tax paycheck for last two weeks. No income tax state. Biggest lump sum payment I have ever received. Lower-class childhood, my family didn’t have shit growing up. This is insane.

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

[acr]

Good for you?

Don't have any real friends to brag to so turning to random strangers on the Internet?

[nealric]

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

The funny thing is that it's often less of a big deal for them. Hedonic adaptation is real.

[objctnyrhnr]

I hear ya OP

[Anonymous User]

Good for you?

Don't have any real friends to brag to so turning to random strangers on the Internet?

not OP but real friends don't brag Many of my friends make considerably less than I do (small town) so I would never do that.

I also grew up relatively poor/lower middle class so I get excited each time I get my bonus. I only get about 60% of my bonus each year after state and federal taxes plus 401K contribution. It always goes to pay off something (student loans, cars, credit cards, etc), but one of these years I want to blow it on a big vacation or sports car. I hate trying to be practical all the time.

[2013]

Nice humblebrag. Good job for hitting your hours.

It is kind of strange that you’d post something as useless on here though instead of talking about it with your biglaw friends.

[dabigchina]

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

The funny thing is that it's often less of a big deal for them. Hedonic adaptation is real.

That's terrifying. I can't imagine feeling trapped in biglaw because you can't stand making less than 300k+. Then again, I don't think I like money that much.

[JohnnieSockran]

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

The funny thing is that it's often less of a big deal for them. Hedonic adaptation is real.

That's terrifying. I can't imagine feeling trapped in biglaw because you can't stand making less than 300k+. Then again, I don't think I like money that much.

There's also this crazy group of people that both (a) like money (and are used to making a lot of it in biglaw), and (b) actually don't completely hate biglaw (Gasp). I don't hate this job, and especially not for the amount of money it pays. It certainly sucks at times, but all jobs suck to some extent.

[Anonymous User]

3rd year Biglaw bonus just hit 10 minutes ago. $38,000 and change after tax ($55,000 gross). Plus $8,000 post-tax paycheck for last two weeks. No income tax state. Biggest lump sum payment I have ever received. Lower-class childhood, my family didn’t have shit growing up. This is insane.

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

How tf did you get so much after tax? I only got like 59% of my bonus and I'm a first year, so I make significantly less than you in both salary and bonus ($15,000 gross).

[2013]

3rd year Biglaw bonus just hit 10 minutes ago. $38,000 and change after tax ($55,000 gross). Plus $8,000 post-tax paycheck for last two weeks. No income tax state. Biggest lump sum payment I have ever received. Lower-class childhood, my family didn’t have shit growing up. This is insane.

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

How tf did you get so much after tax? I only got like 59% of my bonus and I'm a first year, so I make significantly less than you in both salary and bonus ($15,000 gross).

He said no state income tax

[Anonymous User]

OP here.

Painfully obvious to me that it’s more appropriate to share this sentiment with online strangers on a legal forum than with real life friends making $55k a year.

I come from a lower class background (think second world country), was progressive/socialist in college before finding myself in biglaw after law school. My comment was trying to convey a mix of gratitude and uneasiness.

I am shooting for FIRE and am extremely disciplined with money. It’s absurd seeing other people (a) blowing their biglaw dollars while (b) complaining about the job. Either (a) or (b) makes sense, but both is irrational.

[Shredzeppelin240]

OP here.

Painfully obvious to me that it’s more appropriate to share this sentiment with online strangers on a legal forum than with real life friends making $55k a year.

I come from a lower class background (think second world country), was progressive/socialist in college before finding myself in biglaw after law school. My comment was trying to convey a mix of gratitude and uneasiness.

I am shooting for FIRE and am extremely disciplined with money. It’s absurd seeing other people (a) blowing their biglaw dollars while (b) complaining about the job. Either (a) or (b) makes sense, but both is irrational.

Totally agree.. Don't listen to people ridiculing you for 'bragging' and then advise you to brag to your actual friends. You totally deserve to celebrate.

[Anonymous User]

Nice humblebrag. Good job for hitting your hours.

What sucks is that at some firms, even when you worked and billed more hours than your peers in the same class year, you don't get the bonus while they do. Hard work is unnoticed at some firms. Also, unreasonable seniors throwing juniors under the bus is real.

[Guchster]

OP here.

Painfully obvious to me that it’s more appropriate to share this sentiment with online strangers on a legal forum than with real life friends making $55k a year.

I come from a lower class background (think second world country), was progressive/socialist in college before finding myself in biglaw after law school. My comment was trying to convey a mix of gratitude and uneasiness.

I am shooting for FIRE and am extremely disciplined with money. It’s absurd seeing other people (a) blowing their biglaw dollars while (b) complaining about the job. Either (a) or (b) makes sense, but both is irrational.

It's nice to have money, and I remember feeling those same feelings coming from a similar background as you. I encourage you to keep your feelings of gratitude and uneasiness when those bonuses hits and your salary racks up--the golden handcuffs are REAL (especially for people from our background and what this much money means for our families). It helps keep your soul.

[nealric]

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

The funny thing is that it's often less of a big deal for them. Hedonic adaptation is real.

That's terrifying. I can't imagine feeling trapped in biglaw because you can't stand making less than 300k+. Then again, I don't think I like money that much.

I don't think it necessarily means they feel trapped in biglaw. Part of it is that by the time you've been in for a while, you should have pretty substantial savings. If you already have a million saved, an extra $100k isn't the game changer it would be if your net worth were negative. That's one of the rationales for higher marginal tax rates for high-income earners. An extra $1 brings them less utility than it does to a low earner.

[Yugihoe]

Feel you so hard OP. I'm just a second year and have ridiculous NY state and city taxes so my amount was less. Still waking up to 12k in cash and 7k added to my 401k (so the net amount from bonus + regular bi-monthly pay) was still the largest lump sump I've ever seen in my life. I don't love the job either but tell my self if I can make it until the larger 3rd year bonus, it will all have been worth it. I'm going the FIRE route too, so feels amazing being that much closer to reaching my goals.

[Yugihoe]

Also blatent misuse of anon on this thread.

[Anonymous User]

3rd year Biglaw bonus just hit 10 minutes ago. $38,000 and change after tax ($55,000 gross). Plus $8,000 post-tax paycheck for last two weeks. No income tax state. Biggest lump sum payment I have ever received. Lower-class childhood, my family didn’t have shit growing up. This is insane.

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

Just a quick question: how are you pulling in $8000 post-tax for 2 weeks as a 3rd year? I live in a no state income tax state and I’m nowhere near $8000 for two weeks.

[JohnnieSockran]

3rd year Biglaw bonus just hit 10 minutes ago. $38,000 and change after tax ($55,000 gross). Plus $8,000 post-tax paycheck for last two weeks. No income tax state. Biggest lump sum payment I have ever received. Lower-class childhood, my family didn’t have shit growing up. This is insane.

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

Just a quick question: how are you pulling in $8000 post-tax for 2 weeks as a 3rd year? I live in a no state income tax state and I’m nowhere near $8000 for two weeks.

Seriously...cause 3rd years only make $18,333/month gross, which is $9,166 if twice paid twice a month. OP, do you really somehow keep 87% of your money? Seems like tax evasion.

[Anonymous User]

3rd year Biglaw bonus just hit 10 minutes ago. $38,000 and change after tax ($55,000 gross). Plus $8,000 post-tax paycheck for last two weeks. No income tax state. Biggest lump sum payment I have ever received. Lower-class childhood, my family didn’t have shit growing up. This is insane.

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

Just a quick question: how are you pulling in $8000 post-tax for 2 weeks as a 3rd year? I live in a no state income tax state and I’m nowhere near $8000 for two weeks.

Seriously...cause 3rd years only make $18,333/month gross, which is $9,166 if twice paid twice a month. OP, do you really somehow keep 87% of your money? Seems like tax evasion.

I’m the anon before. I thought about it more. I think OP is a fourth year now since bonus was probably 50k.

[JohnnieSockran]

3rd year Biglaw bonus just hit 10 minutes ago. $38,000 and change after tax ($55,000 gross). Plus $8,000 post-tax paycheck for last two weeks. No income tax state. Biggest lump sum payment I have ever received. Lower-class childhood, my family didn’t have shit growing up. This is insane.

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

Just a quick question: how are you pulling in $8000 post-tax for 2 weeks as a 3rd year? I live in a no state income tax state and I’m nowhere near $8000 for two weeks.

Seriously...cause 3rd years only make $18,333/month gross, which is $9,166 if twice paid twice a month. OP, do you really somehow keep 87% of your money? Seems like tax evasion.

I’m the anon before. I thought about it more. I think OP is a fourth year now since bonus was probably 50k.

That makes way more sense, because the salary jump to $255k is a significant one.

[Anonymous User]

3rd year Biglaw bonus just hit 10 minutes ago. $38,000 and change after tax ($55,000 gross). Plus $8,000 post-tax paycheck for last two weeks. No income tax state. Biggest lump sum payment I have ever received. Lower-class childhood, my family didn’t have shit growing up. This is insane.

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

Just a quick question: how are you pulling in $8000 post-tax for 2 weeks as a 3rd year? I live in a no state income tax state and I’m nowhere near $8000 for two weeks.

Seriously...cause 3rd years only make $18,333/month gross, which is $9,166 if twice paid twice a month. OP, do you really somehow keep 87% of your money? Seems like tax evasion.

I’m the anon before. I thought about it more. I think OP is a fourth year now since bonus was probably 50k.

OP here. Yes, that’s correct. I’m a 4th year now, $255,000 base. Married w/ non-working spouse, 5 allowances. $8,300 bimonthly after tax/SS and before 401(k) and health insurance.

[Wild Card]

3rd year Biglaw bonus just hit 10 minutes ago. $38,000 and change after tax ($55,000 gross). Plus $8,000 post-tax paycheck for last two weeks. No income tax state. Biggest lump sum payment I have ever received. Lower-class childhood, my family didn’t have shit growing up. This is insane.

Can’t imagine what the senior associates feel like getting a $100,000 lump sum deposit.

I come from a similar background but I'm a stub year who just got my bonus. $2,500 taxed down to $1,500. I was sad.

[objctnyrhnr]

I think we should talk more about how biglaw gets an unfairly bad rap in my opinion (lockstep pay, 5th year, larger secondary market, litigation). I mean I cruise to like 2,000 or 2,100. I’m intellectually challenged, I like everybody around, I feel valued, I like the level of supervision/discretion both going downwards and upwards, and I like the work.

Frankly I’d probably do this job for half of what they pay me (if prestige/exit options were maintained...and to be clear I’m only saying prestige matters insofar as exit options are concerned; not that I’m trying to get off on prestige as inherently valuable or anything).

So yeah maybe I’m in a unicorn situation, maybe lit is just better for people who are into it than is transactional...but maybe people are just way to hard on biglaw generally speaking.

Do others agree? Or am I a freak?

[Anonymous User]

I think we should talk more about how biglaw gets an unfairly bad rap in my opinion (lockstep pay, 5th year, larger secondary market, litigation). I mean I cruise to like 2,000 or 2,100. I’m intellectually challenged, I like everybody around, I feel valued, I like the level of supervision/discretion both going downwards and upwards, and I like the work.

Frankly I’d probably do this job for half of what they pay me (if prestige/exit options were maintained...and to be clear I’m only saying prestige matters insofar as exit options are concerned; not that I’m trying to get off on prestige as inherently valuable or anything).

So yeah maybe I’m in a unicorn situation, maybe lit is just better for people who are into it than is transactional...but maybe people are just way to hard on biglaw generally speaking.

Do others agree? Or am I a freak?

I’m in a DC regulatory practice and I completely agree. The only major issue for me is I really wish I could spend more time with my wife during the week.