Midlevel - Do I lateral mostly to get a bonus? Forum

[Anonymous User]

I'm a corporate midlevel. I don't love my firm (it's fine, I guess) and have actually been trying to go in-house but been striking out hard. A recruiter reached out and I went through the process to lateral to another firm because, like I said, I don't love my firm. I previously lateraled and now that I've seen some differences it made me realize there are actual differences that are important to me, not the least of which is financial (my firm isn't doing the COVID bonus, so that's over $20k out of my pocket by working at this firm).

I probably won't hit my hours this year because our requirement is on the high side and I had a slow few months. As a midlevel, that's a lot of money. The new firm has a big need and has guaranteed to pay me my bonus. So, we're talking about a $60k+ swing here, which is a lot of money.

While I'm very much over biglaw, walking away from that much money seems like a bad idea. I know that's the biglaw trap but...damn. I don't really have a problem walking away at some point in the year if I do end up getting a job offer to go in house, though.

Is it a bad move? I haven't been at my firm THAT long, so the only real worry is having two quick moves on my resume and getting "stuck" at the new firm.

[TigerIsBack]

I'm a corporate midlevel. I don't love my firm (it's fine, I guess) and have actually been trying to go in-house but been striking out hard. A recruiter reached out and I went through the process to lateral to another firm because, like I said, I don't love my firm. I previously lateraled and now that I've seen some differences it made me realize there are actual differences that are important to me, not the least of which is financial (my firm isn't doing the COVID bonus, so that's over $20k out of my pocket by working at this firm).

I probably won't hit my hours this year because our requirement is on the high side and I had a slow few months. As a midlevel, that's a lot of money. The new firm has a big need and has guaranteed to pay me my bonus. So, we're talking about a $60k+ swing here, which is a lot of money.

While I'm very much over biglaw, walking away from that much money seems like a bad idea. I know that's the biglaw trap but...damn. I don't really have a problem walking away at some point in the year if I do end up getting a job offer to go in house, though.

Is it a bad move? I haven't been at my firm THAT long, so the only real worry is having two quick moves on my resume and getting "stuck" at the new firm.

I think this is a perfectly fine move. That said, I've done this before and gotten the signing bonus and it's pretty typical for a firm to write in the offer letter than they can clawback all or a portion of that signing bonus if you leave within a year. So to truly get that extra $60k, you have to be prepared to stick it out at least a year at the new firm. You could probably try to negotiate to strike that clause, but not sure how that would go in terms of signaling your commitment.

Edit: In terms of negotiating to strike the clawback, you could say you're not comfortable moving and including that language after seeing how many firms that claimed to be financially healthy furloughed or laid off associates, but that doesn't really help if they come back with language that they can clawback your bonus if you leave voluntarily.

[LawrenceGazebo]

I'm a corporate midlevel. I don't love my firm (it's fine, I guess) and have actually been trying to go in-house but been striking out hard. A recruiter reached out and I went through the process to lateral to another firm because, like I said, I don't love my firm. I previously lateraled and now that I've seen some differences it made me realize there are actual differences that are important to me, not the least of which is financial (my firm isn't doing the COVID bonus, so that's over $20k out of my pocket by working at this firm).

I probably won't hit my hours this year because our requirement is on the high side and I had a slow few months. As a midlevel, that's a lot of money. The new firm has a big need and has guaranteed to pay me my bonus. So, we're talking about a $60k+ swing here, which is a lot of money.

While I'm very much over biglaw, walking away from that much money seems like a bad idea. I know that's the biglaw trap but...damn. I don't really have a problem walking away at some point in the year if I do end up getting a job offer to go in house, though.

Is it a bad move? I haven't been at my firm THAT long, so the only real worry is having two quick moves on my resume and getting "stuck" at the new firm.

You work for money and don't want to be in biglaw forever -- C.R.E.A.M., dolla dolla bills y'all.

[Anonymous User]

I'm a corporate midlevel. I don't love my firm (it's fine, I guess) and have actually been trying to go in-house but been striking out hard. A recruiter reached out and I went through the process to lateral to another firm because, like I said, I don't love my firm. I previously lateraled and now that I've seen some differences it made me realize there are actual differences that are important to me, not the least of which is financial (my firm isn't doing the COVID bonus, so that's over $20k out of my pocket by working at this firm).

I probably won't hit my hours this year because our requirement is on the high side and I had a slow few months. As a midlevel, that's a lot of money. The new firm has a big need and has guaranteed to pay me my bonus. So, we're talking about a $60k+ swing here, which is a lot of money.

While I'm very much over biglaw, walking away from that much money seems like a bad idea. I know that's the biglaw trap but...damn. I don't really have a problem walking away at some point in the year if I do end up getting a job offer to go in house, though.

Is it a bad move? I haven't been at my firm THAT long, so the only real worry is having two quick moves on my resume and getting "stuck" at the new firm.

I think this is a perfectly fine move. That said, I've done this before and gotten the signing bonus and it's pretty typical for a firm to write in the offer letter than they can clawback all or a portion of that signing bonus if you leave within a year. So to truly get that extra $60k, you have to be prepared to stick it out at least a year at the new firm. You could probably try to negotiate to strike that clause, but not sure how that would go in terms of signaling your commitment.

Edit: In terms of negotiating to strike the clawback, you could say you're not comfortable moving and including that language after seeing how many firms that claimed to be financially healthy furloughed or laid off associates, but that doesn't really help if they come back with language that they can clawback your bonus if you leave voluntarily.

No clawback provision. Same when I made my last move. There is a clawback for relocation expenses, but that won't apply.

[Definitely Not North]

That's a lot of money. Take it

[Definitely Not North]

TCR:

C.R.E.A.M., dolla dolla bills y'all.

[Anonymous User]

OP here:

Wu-tang is never wrong.