Jones Day Compensation Data Points Forum

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Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 10:16 am

Are these bonuses guaranteed? (For this of us in a major market who billed 1800-1900 last year).

Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 10:37 am

Anyone get their letters yet? Some offices have not even mentioned it to associates.

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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 11:22 am

Anonymous User wrote:
Fri Jun 25, 2021 10:16 am
Are these bonuses guaranteed? (For this of us in a major market who billed 1800-1900 last year).
Nothing is guaranteed. Plenty of people get a $10k or $20k bonus as a midlevel or higher even with full hours.

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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 11:57 am

Anonymous User wrote:
Fri Jun 25, 2021 10:37 am
Anyone get their letters yet? Some offices have not even mentioned it to associates.
Yes, at least one East Coast office has got all of their letters.

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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 12:00 pm

DC/NYC office. 2nd year, and I just got bumped to 235 (was expecting at least 250 based on reviews and market). Polishing up the resume now and mass mailing it out today.

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Bear2019

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Re: Jones Day Compensation Data Points

Post by Bear2019 » Fri Jun 25, 2021 12:18 pm

Anonymous User wrote:
Fri Jun 25, 2021 12:00 pm
DC/NYC office. 2nd year, and I just got bumped to 235 (was expecting at least 250 based on reviews and market). Polishing up the resume now and mass mailing it out today.
Is this not above market? I guess I don’t get it. Second years at cravath scale are making 215 and will make 240 in January. The average of those is 227.5 and most firms don’t have guaranteed bonuses so nothing above that 227.5 is guaranteed income. Does Jones day not have any bonuses?

Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 12:20 pm

Interested to hear from juniors and mid-levels in secondary markets.

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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 12:22 pm

Bear2019 wrote:
Fri Jun 25, 2021 12:18 pm
Anonymous User wrote:
Fri Jun 25, 2021 12:00 pm
DC/NYC office. 2nd year, and I just got bumped to 235 (was expecting at least 250 based on reviews and market). Polishing up the resume now and mass mailing it out today.
Is this not above market? I guess I don’t get it. Second years at cravath scale are making 215 and will make 240 in January. The average of those is 227.5 and most firms don’t have guaranteed bonuses so nothing above that 227.5 is guaranteed income. Does Jones day not have any bonuses?
No, Jones Day does not do any bonuses whatsoever.

2013

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Re: Jones Day Compensation Data Points

Post by 2013 » Fri Jun 25, 2021 12:22 pm

Bear2019 wrote:
Fri Jun 25, 2021 12:18 pm
Anonymous User wrote:
Fri Jun 25, 2021 12:00 pm
DC/NYC office. 2nd year, and I just got bumped to 235 (was expecting at least 250 based on reviews and market). Polishing up the resume now and mass mailing it out today.
Is this not above market? I guess I don’t get it. Second years at cravath scale are making 215 and will make 240 in January. The average of those is 227.5 and most firms don’t have guaranteed bonuses so nothing above that 227.5 is guaranteed income. Does Jones day not have any bonuses?
Jones Day’s base is supposed to be base and bonus at other peer firms.

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Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 12:24 pm

2013 wrote:
Fri Jun 25, 2021 12:22 pm
Bear2019 wrote:
Fri Jun 25, 2021 12:18 pm
Anonymous User wrote:
Fri Jun 25, 2021 12:00 pm
DC/NYC office. 2nd year, and I just got bumped to 235 (was expecting at least 250 based on reviews and market). Polishing up the resume now and mass mailing it out today.
Is this not above market? I guess I don’t get it. Second years at cravath scale are making 215 and will make 240 in January. The average of those is 227.5 and most firms don’t have guaranteed bonuses so nothing above that 227.5 is guaranteed income. Does Jones day not have any bonuses?
Jones Day’s base is supposed to be base and bonus at other peer firms.
Doesn't that have beneficial tax implications?

Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 12:36 pm

Anonymous User wrote:
Fri Jun 25, 2021 12:24 pm
2013 wrote:
Fri Jun 25, 2021 12:22 pm
Bear2019 wrote:
Fri Jun 25, 2021 12:18 pm
Anonymous User wrote:
Fri Jun 25, 2021 12:00 pm
DC/NYC office. 2nd year, and I just got bumped to 235 (was expecting at least 250 based on reviews and market). Polishing up the resume now and mass mailing it out today.
Is this not above market? I guess I don’t get it. Second years at cravath scale are making 215 and will make 240 in January. The average of those is 227.5 and most firms don’t have guaranteed bonuses so nothing above that 227.5 is guaranteed income. Does Jones day not have any bonuses?
Jones Day’s base is supposed to be base and bonus at other peer firms.
Doesn't that have beneficial tax implications?
Sure, if the base has the whole bonus baked in. It never does. We didn't get the covid/special bonuses either. It might look like more than base salary at first glance, but considering all the bonuses and the fact that JD does mid-year raises so you're behind a class year, it's a pretty bad deal.

Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 1:15 pm

Mid level in small market at around 300k…so not NYC market but definitely more than I thought I’d get and more than I’d get at most other places in my city.

Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 2:01 pm

Anonymous User wrote:
Fri Jun 25, 2021 12:00 pm
DC/NYC office. 2nd year, and I just got bumped to 235 (was expecting at least 250 based on reviews and market). Polishing up the resume now and mass mailing it out today.
This is insulting. 235 will be below salary-only comp for the first half of 2022, not even starting to add in the three rounds of bonuses that every other firm is paying out. How does JD expect to get away with this in DC and NY? Is all of their money going to pay somebody coming off of a Kavanaugh clerkship an even bigger bonus?

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Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 2:14 pm

Anonymous User wrote:
Fri May 21, 2021 4:51 pm
Does anyone know JD’s policy on bonus clawbacks?
Former JD associate.

They claw back clerkship bonuses and bar fees pro rated 24 months. Also you get credit only for “full” months. So if you start on the 5th of a month you get credit in the pro rated portion of the clawback only if you make it to the 5th. If you leave on the 4th you don’t get credit for those 29 or 30 days

Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 2:22 pm

DC/NY NLG raised to 220

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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 2:27 pm

Anonymous User wrote:
Fri Jun 25, 2021 2:22 pm
DC/NY NLG raised to 220
Just to run the numbers, you should have gotten $244k, so you’re already $25k below the market and you’re just an NLG. Think about the midlevels and seniors.

Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 2:30 pm

Anonymous User wrote:
Fri Jun 25, 2021 12:00 pm
DC/NYC office. 2nd year, and I just got bumped to 235 (was expecting at least 250 based on reviews and market). Polishing up the resume now and mass mailing it out today.
$235k for the second half of your second year and first half of your third year is brutal. The market is $256k plus $322k divided by two or $289k, or about $55k higher.

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Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 2:31 pm

Anonymous User wrote:
Fri Jun 25, 2021 2:27 pm
Anonymous User wrote:
Fri Jun 25, 2021 2:22 pm
DC/NY NLG raised to 220
Just to run the numbers, you should have gotten $244k, so you’re already $25k below the market and you’re just an NLG. Think about the midlevels and seniors.
How’d you come up with $244? I ran the numbers and it came out to $237?

Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 2:37 pm

Anonymous User wrote:
Fri Jun 25, 2021 2:31 pm
Anonymous User wrote:
Fri Jun 25, 2021 2:27 pm
Anonymous User wrote:
Fri Jun 25, 2021 2:22 pm
DC/NY NLG raised to 220
Just to run the numbers, you should have gotten $244k, so you’re already $25k below the market and you’re just an NLG. Think about the midlevels and seniors.
How’d you come up with $244? I ran the numbers and it came out to $237?
2020: 232,000 (205k+12k+15k)
2019: 256,000 (215k+16k+25k)

Add these two and divide by two.

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Definitely Not North

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Re: Jones Day Compensation Data Points

Post by Definitely Not North » Fri Jun 25, 2021 2:43 pm

Is the culture really great/hours really reasonable at major-market JD offices or something? I haven't read this whole thread but these seem like big numbers that you're off market by. I can't imagine working regular biglaw but coming out hundreds of thousands of dollars poorer than peers at market firms after a 5+ year biglaw stint.

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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 2:45 pm

Anonymous User wrote:
Fri Jun 25, 2021 2:37 pm
Anonymous User wrote:
Fri Jun 25, 2021 2:31 pm
Anonymous User wrote:
Fri Jun 25, 2021 2:27 pm
Anonymous User wrote:
Fri Jun 25, 2021 2:22 pm
DC/NY NLG raised to 220
Just to run the numbers, you should have gotten $244k, so you’re already $25k below the market and you’re just an NLG. Think about the midlevels and seniors.
How’d you come up with $244? I ran the numbers and it came out to $237?
2020: 232,000 (205k+12k+15k)
2019: 256,000 (215k+16k+25k)

Add these two and divide by two.
Ah ok I see, I calculated on the metric of “how many dollars would have been earned and sitting in bank account of peers at market-scale firms between July 1 and July 1.” So that included (205/2) + (12) + (15) + (215/2). Didn’t include the 25k because that would be doled out after July 1, 2022 or the 16k because I’m not sure if special bonuses will happen again in 2022.

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Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 2:47 pm

Definitely Not North wrote:
Fri Jun 25, 2021 2:43 pm
Is the culture really great/hours really reasonable at major-market JD offices or something? I haven't read this whole thread but these seem like big numbers that you're off market by. I can't imagine working regular biglaw but coming out hundreds of thousands of dollars poorer than peers at market firms after a 5+ year biglaw stint.
Same question. I was going to make a thread specifically for current/former JD associates in major markets about why they picked JD.

Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 2:48 pm

Definitely Not North wrote:
Fri Jun 25, 2021 2:43 pm
Is the culture really great/hours really reasonable at major-market JD offices or something? I haven't read this whole thread but these seem like big numbers that you're off market by. I can't imagine working regular biglaw but coming out hundreds of thousands of dollars poorer than peers at market firms after a 5+ year biglaw stint.
I like my office and the people I work with, but don’t really have a metric for how much that differs from any other firm. Not a lifestyle firm by any metric but I think a lot of juniors squeeze by billing under 1800 with a good bit of pro Bono.

Anonymous User
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Re: Jones Day Compensation Data Points

Post by Anonymous User » Fri Jun 25, 2021 2:57 pm

Anonymous User wrote:
Fri Jun 25, 2021 2:47 pm
Definitely Not North wrote:
Fri Jun 25, 2021 2:43 pm
Is the culture really great/hours really reasonable at major-market JD offices or something? I haven't read this whole thread but these seem like big numbers that you're off market by. I can't imagine working regular biglaw but coming out hundreds of thousands of dollars poorer than peers at market firms after a 5+ year biglaw stint.
Same question. I was going to make a thread specifically for current/former JD associates in major markets about why they picked JD.
Just a warning: someone asked this in another thread and some insane dude accused ever response as being part of some JD-run PR conspiracy.

Basically, I summered with JD as a 1L, didn’t do OCI because I liked it, returned as a 2L and accepted an offer. Almost all out of inertia. I wasn’t cognizant of major gaps in compensation. Starting salary was the same as market. I figured that black box just meant that salaries baked in bonuses six months late, which didn’t seem like that big of a deal. If I were cognizant that a series of market spring and fall bonuses alongside raises would create $20k+ gaps, I probably wouldn’t have returned for my 2L summer.

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Re: Jones Day Compensation Data Points

Post by Chrstgtr » Fri Jun 25, 2021 3:42 pm

Anonymous User wrote:
Fri Jun 25, 2021 12:24 pm
2013 wrote:
Fri Jun 25, 2021 12:22 pm
Bear2019 wrote:
Fri Jun 25, 2021 12:18 pm
Anonymous User wrote:
Fri Jun 25, 2021 12:00 pm
DC/NYC office. 2nd year, and I just got bumped to 235 (was expecting at least 250 based on reviews and market). Polishing up the resume now and mass mailing it out today.
Is this not above market? I guess I don’t get it. Second years at cravath scale are making 215 and will make 240 in January. The average of those is 227.5 and most firms don’t have guaranteed bonuses so nothing above that 227.5 is guaranteed income. Does Jones day not have any bonuses?
Jones Day’s base is supposed to be base and bonus at other peer firms.
Doesn't that have beneficial tax implications?
No. Bonus/Salary is taxed at the same rate. The only difference is how much is withheld (i.e., with bonuses you get more now but will have to pay more in taxes later whereas with base you get less now but have to pay less in taxes later). If anything, the way JD does it is worse.

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