Mid-Year Bonuses Forum

[Anonymous User]

The lack of respect for my personal life is really making me rethink staying here long term here. A mid year bonus would be nice to show some appreciation. Working 6 8 hours today .

[Anonymous User]

Is anyone considering delaying a move until it becomes clear whether these are coming? I'd hate to accept an in-house offer and look like a chump in a few weeks when all my former colleagues have an extra five figures in their bank accounts

[JohnnieSockran]

What even was the bonus scale last year? I only remember what I got...was it something like this:

$5k
$7.5k
$10k
$10k
$15k
$15k
$25k
$25k

?

[sucsuroc]

What even was the bonus scale last year? I only remember what I got...was it something like this:

$5k
$7.5k
$10k
$10k
$15k
$15k
$25k
$25k

?

Close. It was 5 / 7.5 / 10 / 15 / 20 / topped out at 25 for 6+ years.

[rokiv]

Anymore speculation to keep this party going?

[Anonymous User]

I doubt it, they cut back on summer lunches and # of summers at my firm

[KM2016]

I doubt it, they cut back on summer lunches and # of summers at my firm

To free up cash for our impending summer bonuses, of course...

[sucsuroc]

Summers need to step up and start asking the partners about this at every single mixer. There are no consequences for your actions -- do your part!

[Anonymous User]

I'm at a V10, and have it on good authority that performance is materially up from last year and that the person who provided information indicated the same is true largely across "peer" firms. The follow-up question regarding summer bonuses was met with our firm's traditional response of "we don't lead on that type of thing but if others do we will match." This isn't to say that summer bonuses are likely, but to say that it appears that at the firms of the type which might make the first are doing well-enough now, to justify it. Of course whether there is concern about near future economic conditions that mitigates that current performance is another question.

[JohnnieSockran]

When did the first summer bonus/salary announcement come last year? Around this time, to be effective July 1?

I believe it was Milbank this time last year, but could be wrong.

[JohnnieSockran]

Just found article...Milbank raised salaries on June 4, 2018.

On June 6, 2018, Simpson matched salaries and added the summer bonuses.

[Anonymous User]

Gunderson gave our summer bonuses nationwide. Hours requirement attached, but it has started.

[Elston Gunn]

It’s on ATL. Hell yes. https://abovethelaw.com/2019/05/gunders ... m-law-100/

[KM2016]

Pretty confident elite biglaw firms will match this.

[2013]

Random question: why is Gunderson not an AmLaw firm? Was trying to find revenues and such but can’t find anything

[Anonymous User]

Being at STB, I think we will match Gunderson. They’ve been poaching associates from us heavily in the last couple of years (especially in the big $$ M&A and fund formation practices), to the point where they are probably our biggest or second-biggest (after K&E) lateral destination. I don’t think the firm can afford to ignore their bonuses or the defections would spike. We’ll see.

[Ultramar vistas]

Gunderson were smart - dropping this right before the long weekend guarantees 3 days of first mover status and good PR before everyone else starts matching and the conversation moves to that.

Interested in whether the move is (a) to match the bifurcated scale, (b) match the lower figure only or (c) pull what Simpson did on Milbank last year and match with a better proposition - everyone gets the higher figure.

[Anonymous User]

Most of the firms that give the bonus will probably give the higher end without an hours requirement.

I doubt as many firms will give a bonus this time around, too. My firm is starting to slow down a bit (probably 75% as many deals as last year around this time).

I think this bonus will mostly be limited to the firms that have revenues of $1B+.

[Anonymous User]

I highly doubt my V40 will match this one. They couldn't even give out annual bonuses to all the high billers.

[Veronica2015]

Given the lack of interest shown by this 2-page thread, other firms probably have little incentive to match.

[wlay2016]

It will take a V50 firm matching Gunderson for me to be fully convinced a summer bonus wave is happening.

[Ultramar vistas]

Given the lack of interest shown by this 2-page thread, other firms probably have little incentive to match.

Yeah - one of the saddest things about the decline of the forums and the split of the community has been the loss of what felt like a tiny bit of collective power the associates had.

[ithrowds]

It will take a V50 firm matching Gunderson for me to be fully convinced a summer bonus wave is happening.

The wave will will happen because Cooley/WSGR/Fenwick, Gunderson's primary Silicon Valley competitors in the EC/VC space, pretty much have to match.

[Anonymous User]

I expect my V50 firm to match, although it may take it a week or more to do it.

[Anonymous User]

I expect my V50 firm to match, although it may take it a week or more to do it.

I expect my V10 will match once peers match. My sense is there is flexibility in the V10-V20 to match this bonus. Curious to see who the second match will be.