Desmarais / Reichman Jorgensen Bonuses Forum

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Anonymous User
Posts: 428108
Joined: Tue Aug 11, 2009 9:32 am

Re: Desmarais / Reichman Jorgensen Bonuses

Post by Anonymous User » Tue Jun 15, 2021 9:03 pm

theneuro wrote:
Tue Jun 15, 2021 5:37 pm
Anonymous User wrote:
Tue Jun 15, 2021 3:24 pm
misanthrope8219 wrote:
Tue Jun 15, 2021 2:00 pm
Anonymous User wrote:
Sun Jun 13, 2021 7:24 pm
I can't help but wonder if the "above-market lit boutique" model is going to be harder to sustain now than in the decade of stagnant comp up to 2016 - especially if its corporate driving salary growth rather than a countercyclical litigation practice. That said, W&C seems a good test case to show that lit associates will still even take a small pay cut relative to V10 firms for the sake of prestige/experience. So maybe the question for Desmarais/Reichman/other non-Susman boutiques is whether they can credibly offer that to associates while not distinguishing themselves on pay.
Re: W&C is the pay cut really that "small?" It seems that they don't pay any bonuses at all, so it's $100,000 below market or more, depending on your class year.
They pay a materially above-market base (or used to) so it is less than $100,000.
Vault says:

1st year: $200,000
2nd year: $200,000
3rd year: $230,000
4th year: $260,000
5th year: $285,000
6th year: $310,000
7th year: $330,000
8th year: $345,000
9th year: $350,000

Versus big law scale:

1st Year $205,000 $12,000 $217,000
2nd Year $215,000 $16,000 $231,000
3rd Year $240,000 $32,000 $272,000
4th Year $275,000 $44,000 $319,000
5th Year $305,000 $52,000 $357,000
6th Year $330,000 $59,200 $389,200
7th Year $350,000 $64,000 $414,000
8th Year $365,000 $64,000 $429,000

So the differential is quite a bit under $100,000, but not insignificant.
Vault is incorrect. Anon for obvious reasons.

misanthrope8219

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Posts: 4
Joined: Thu Nov 07, 2019 2:48 pm

Re: Desmarais / Reichman Jorgensen Bonuses

Post by misanthrope8219 » Tue Jun 15, 2021 11:47 pm

You're forgetting to add in the end of year bonuses (corrected below); after doing that the difference from fourth year on is actually HIGHER than $100,000, and approaches $200,000 as you increase in class year.

1st year: $200,000
2nd year: $200,000
3rd year: $230,000
4th year: $260,000
5th year: $285,000
6th year: $310,000
7th year: $330,000
8th year: $345,000
9th year: $350,000

Versus big law scale:

1st Year $205,000 $12,000 $15,000 $232,000
2nd Year $215,000 $16,000 $25,000 $256,000
3rd Year $240,000 $32,000 $50,000 $322,000
4th Year $275,000 $44,000 $65,000 $384,000
5th Year $305,000 $52,000 $80,000 $437,000
6th Year $330,000 $59,200 $ 90,000 $479,200
7th Year $350,000 $64,000 $100,000 $514,000
8th Year $365,000 $64,000 $100,000 $529,000

Anonymous User
Posts: 428108
Joined: Tue Aug 11, 2009 9:32 am

Re: Desmarais / Reichman Jorgensen Bonuses

Post by Anonymous User » Wed Dec 20, 2023 9:43 am

I'm feeling out the market. Anyone know what Desmarais/Reichman and similar IP firms have given for bonuses the last couple of years? Do they still give above market bonuses?

Anonymous User
Posts: 428108
Joined: Tue Aug 11, 2009 9:32 am

Re: Desmarais / Reichman Jorgensen Bonuses

Post by Anonymous User » Sun Dec 24, 2023 8:37 pm

misanthrope8219 wrote:
Tue Jun 15, 2021 11:47 pm
You're forgetting to add in the end of year bonuses (corrected below); after doing that the difference from fourth year on is actually HIGHER than $100,000, and approaches $200,000 as you increase in class year.

1st year: $200,000
2nd year: $200,000
3rd year: $230,000
4th year: $260,000
5th year: $285,000
6th year: $310,000
7th year: $330,000
8th year: $345,000
9th year: $350,000

Versus big law scale:

1st Year $205,000 $12,000 $15,000 $232,000
2nd Year $215,000 $16,000 $25,000 $256,000
3rd Year $240,000 $32,000 $50,000 $322,000
4th Year $275,000 $44,000 $65,000 $384,000
5th Year $305,000 $52,000 $80,000 $437,000
6th Year $330,000 $59,200 $ 90,000 $479,200
7th Year $350,000 $64,000 $100,000 $514,000
8th Year $365,000 $64,000 $100,000 $529,000

This is INSANE. As someone thinking about it, are the billable hours substantially lower?

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