K&E Bonus Forum

[Anonymous User]

I'm a senior at K&E and a few weeks ago I accepted another job under the assumption that the bonus scale would be down this year and deciding I was ok missing the payout. Obviously that was a pretty big miscalculation. Between the special DPW bonus, the insinuation that the scale is going to be at least as good as last year, and having received a merit rating and hours that would both lead me to believe my bonus is going to be well above market, I really want to stay until the money hits my bank account.

Does anyone know when a K&E bonus really "vests?" Historically they've had the bonus meeting a few days before Christmas and paid it out on 12/31. If I put in my notice the day after the bonus meeting and tell them my last day is 1/1/2021, am I going to get my bonus? I may be able to hold off my new job until then but I think they're going to have limited flexibility since it's the government and I want to tell them the shortest possible timeframe consistent with me getting the bonus.

There's no point reminding me that I made a miscalculation, I just want to understand if there's a way to mitigate it now that I know I'm giving up about double the amount of money I originally thought I was giving up.

[The Lsat Airbender]

You're probably fucked if you can't find a way to hold off putting in notice until after the bonus hits your bank account. Maybe reach out to old colleagues who left the firm and ask them how it went; K&E might be relatively chillaxed about this kind of thing but I'd be surprised per the firm's reputation.

Worth noting that if you finesse it properly, you can maybe get away with 1 weeks' notice without ruffling too many feathers.

[Anonymous User]

Is there any chance you get escorted out the day you give notice? I know that happens in banking a fair amount, but assume it doesn't really happen in law firms for voluntary resignations (I've only lateralled once and it was not the case for me).

Is it reasonable to tell your gov't job that you want to stay because you've already earned that bonus and re planning to give 1 weeks' notice on 12/31? I'm not sure how anyone could fault someone for want to wait 3 months for a $100-$150k pay day, especially right before they take a massive haircut on salary presumably.

[Anonymous User]

I’d be candid with the employer where you accepted the job and say you stand to make a six-figure bonus but need to wait to give notice until it hits your account in likely late-December. That way you’ll also get to cash PTO (giving short notice might cost you this)

[nixy]

I would just try to extend the time till you start in the government job based on holiday plans etc. I wouldn’t tell them you want to stick around for the bonus - sensible people will understand that that’s what’s going on but it’s not really good to say it out loud to people who likely make less than you do. Mayyyyybe if it’s an office full of people who left biglaw/plan to go back to biglaw, but I’d really avoid saying that to lifers. I know someone who went from biglaw to fedgov, and when they started they made a couple of comments to people about the big pay cut they took to go there. I think they meant it to show their dedication to the new job (and they are a great colleague overall), but it left a bad taste in people’s mouths (so I heard from someone in that office).

[Pulsar]

Unless you are an NSP, I don't think you have a mandated notice period when leaving. You could always just give 2 weeks on 1/1. No need to push new job out quite to 1/21; could shave off a week and arrive by 1/15 if that helps.

[Anonymous User]

Worth noting that if you finesse it properly, you can maybe get away with 1 weeks' notice without ruffling too many feathers.

Thanks. Good point about 1 week. I think I could probably get away with it.

Is there any chance you get escorted out the day you give notice? I know that happens in banking a fair amount, but assume it doesn't really happen in law firms for voluntary resignations (I've only lateralled once and it was not the case for me).

No chance. I've never heard of that happening at a law firm in general (including at K&E), and in my particular case, the partners I work with will all be really excited for me. Plus, we're WFH for the foreseeable future anyway. What are they going to do if they come to confiscate my laptop and I don't answer my door?

I would just try to extend the time till you start in the government job based on holiday plans etc. I wouldn’t tell them you want to stick around for the bonus - sensible people will understand that that’s what’s going on but it’s not really good to say it out loud to people who likely make less than you do. Mayyyyybe if it’s an office full of people who left biglaw/plan to go back to biglaw, but I’d really avoid saying that to lifers. I know someone who went from biglaw to fedgov, and when they started they made a couple of comments to people about the big pay cut they took to go there. I think they meant it to show their dedication to the new job (and they are a great colleague overall), but it left a bad taste in people’s mouths (so I heard from someone in that office).

Thanks, this is good feedback. I had been planning to really emphasize that the holidays mean that there aren't really that many true uninterrupted work weeks left but it's true that the bonus is going to be close to my first year's salary at the government and I had thought about whether or not to bring it up. I can see now how that could backfire.

I’d be candid with the employer where you accepted the job and say you stand to make a six-figure bonus but need to wait to give notice until it hits your account in likely late-December. That way you’ll also get to cash PTO (giving short notice might cost you this)

At Kirkland we have "unlimited" vacation, meaning I won't have anything to cash in.

[Anonymous User]

In terms of “vesting,” the policy is that you get the bonus if you are employed by the firm on the payout date, which will likely be 12/30 or 12/31. If you have a realistic shot at a $200k+ bonus, there is no chance I’d take a risk and give notice before the bonus hit my account. On the contrary, I’d have a partner list at the ready for either of those days to make calls giving notice. As other people have said, you could start the new gig on 1/18 (1/19 given the holiday for a fed job) without much fuss so long as you gave notice the same day as the bonus hit. I would push back as much as possible against starting before then unless you truly don’t care about burning bridges or you know you’ll be slow then and won’t leave people in the lurch. (Or if you’re forced to choose and you elect, wisely I think, to ensure you get the big bonus.)

[TigerIsBack]

Is there any chance you get escorted out the day you give notice? I know that happens in banking a fair amount, but assume it doesn't really happen in law firms for voluntary resignations (I've only lateralled once and it was not the case for me).

No chance. I've never heard of that happening at a law firm in general (including at K&E), and in my particular case, the partners I work with will all be really excited for me. Plus, we're WFH for the foreseeable future anyway. What are they going to do if they come to confiscate my laptop and I don't answer my door?

Lol good point. Totally forgot about this in a WFH context.