2021 Special Bonuses Forum

[cavalier1138]

Any word from Susman/Kellogg?

I think it was mentioned previously in the thread, but firms like Susman already don't follow the market for bonuses.

Right, but does that mean they don't give these bonuses?

Probably, since they're not trying to "match" the market; they'll pay much higher bonuses to their associates whenever it is they pay out.

[Anonymous User]

Confirmed that Greenberg Traurig is paying bonuses - bonuses are well below market but there are other comp decisions happening (is still under market with these other changes, but not by much) - not sure if I can provide more detail such as specific numbers or when this was announced (was prior to today), as it may out the office I work at, unless others at GT can/want to confirm this is happening firm-wide (or at least at multiple offices).

[Anonymous User]

Confirmed that Greenberg Traurig is paying bonuses - bonuses are well below market but there are other comp decisions happening (is still under market with these other changes, but not by much) - not sure if I can provide more detail such as specific numbers or when this was announced (was prior to today), as it may out the office I work at, unless others at GT can/want to confirm this is happening firm-wide (or at least at multiple offices).

as an increasingly nervous incoming summer in a non-NY major market any update would be much appreciated

[EvilCorp123]

Confirmed that Greenberg Traurig is paying bonuses - bonuses are well below market but there are other comp decisions happening (is still under market with these other changes, but not by much) - not sure if I can provide more detail such as specific numbers or when this was announced (was prior to today), as it may out the office I work at, unless others at GT can/want to confirm this is happening firm-wide (or at least at multiple offices).

as an increasingly nervous incoming summer in a non-NY major market any update would be much appreciated

I'm the OP you quoted; this is a throwaway account - PM me and I'm happy to give you the details. I suspect the reason Above the Law almost never reports on us, and TLS knows little about us (I've been on this site since Ken was still around under one name or another...) is that they purposefully make disclosure hard by releasing information office-by-office and other means. GT is black-box but only to an extent, there is actually a 95% transparent (they leave room for discretionary increases, not unlike other firms) compensation scale but I believe it does vary office to office.

[Anonymous User]

Eversheds matched, paying in July and January for annualizing at/hitting billable target (1950) in 2021, with a catch up for those who miss the July payment. Definitely better than expected, and it seems like most associates are pretty happy. The bonus announcement was overshadowed a bit by the announcement that Atlanta associates are moving to the Cravath salary scale. It was a pretty good day for Eversheds associates in Atlanta

[2013]

Eversheds matched, paying in July and January for annualizing at/hitting billable target (1950) in 2021, with a catch up for those who miss the July payment. Definitely better than expected, and it seems like most associates are pretty happy. The bonus announcement was overshadowed a bit by the announcement that Atlanta associates are moving to the Cravath salary scale. It was a pretty good day for Eversheds associates in Atlanta

Wow. Didn’t even know Eversheds paid market after the first year in major markets.

[Anonymous User]

Eversheds matched, paying in July and January for annualizing at/hitting billable target (1950) in 2021, with a catch up for those who miss the July payment. Definitely better than expected, and it seems like most associates are pretty happy. The bonus announcement was overshadowed a bit by the announcement that Atlanta associates are moving to the Cravath salary scale. It was a pretty good day for Eversheds associates in Atlanta

Wow. Didn’t even know Eversheds paid market after the first year in major markets.

Yeah, there's some discretion for salaries depending on hours, etc., but there's no baked in compression for midlevels or seniors (although if you didn't hit your hours you may not get the full raise in a given year, but if you do better the next year they put you back with your class year). Our branding should be better on this, when I lateralled I couldn't find anything online about pay scale.

[2013]

Eversheds matched, paying in July and January for annualizing at/hitting billable target (1950) in 2021, with a catch up for those who miss the July payment. Definitely better than expected, and it seems like most associates are pretty happy. The bonus announcement was overshadowed a bit by the announcement that Atlanta associates are moving to the Cravath salary scale. It was a pretty good day for Eversheds associates in Atlanta

Wow. Didn’t even know Eversheds paid market after the first year in major markets.

Yeah, there's some discretion for salaries depending on hours, etc., but there's no baked in compression for midlevels or seniors (although if you didn't hit your hours you may not get the full raise in a given year, but if you do better the next year they put you back with your class year). Our branding should be better on this, when I lateralled I couldn't find anything online about pay scale.

Yeah, the firm should probably do a better job of marketing this. I just googled its RPL, and it’s like $471,000. I assume much of it has to do with it being largely non-US, but I would never have guessed the firm paid near market base.

[Anonymous User]

I’m a first year who started in January who very likely will be below the bonus hours threshold. Does anyone know if firms ever give bonuses or special bonuses to associates who don’t meet the hours thresholds they outline in their bonus programs?

[cornerstone]

I’m a first year who started in January who very likely will be below the bonus hours threshold. Does anyone know if firms ever give bonuses or special bonuses to associates who don’t meet the hours thresholds they outline in their bonus programs?

You mean will you get the special bonus even if you don't qualify for the thresholds your firm explicitly listed as requirements to receive the special bonus? I think you can answer that yourself. If the firm wanted to waive the hours requirement for first years they would have said so.

Maybe there are some exceptions for those with a lot of non-billable hours that are nonetheless super valuable for the firm, but it doesn't sound like you're in that position.

[Anonymous User]

Can we talk about how associates in RALEIGH and ATLANTA are getting PAID? Cravath scale in low, low, low cost of living places.

Forget special bonuses. Does this mean NY to $200? 220?

?? Most firms in Raleigh and ATL are not Cravath/$190k starting

I'm not completely sure of this, but didn't Charlotte moved to 190 before Atlanta did? At least Cadwalader has been that way for a while, but maybe the Southern/non-NY firms in CLT aren't there yet. It would make sense for the next steps to be, in order: 1) Atlanta goes 190 across the board of proper BigLaw; 2) Charlotte and maybe even Raleigh and Richmond do too (thinking Hunton, McGuire, Moore Van Allen, Holland & Knight if they're not already there); 3) assuming the entire idea of location/offices continues to exist and there isn't some ongoing work-from-anywhere revolution, then whenever NYC goes to 210 hopefully in the next couple of years, the South shall lag again by a few years.

I don’t think anyone in Atl other than AB KS and maybeeee Troutman/Sutherland/GT can afford to go to 190. They could all afford it for juniors but it really squeezes profits when you’re paying midlefels and seniors 300+ But billing them out at Atl rates, not NYC rates

Just to update here, it looks like Moore Van Allen has moved to 185K starting. As far as I know, the CLT offices of McGuire and Holland & Knight are both still on the 165/170 scale. How long do you all think it will take for the rest of clt biglaw to match MVA?

[boris78]

Eversheds matched, paying in July and January for annualizing at/hitting billable target (1950) in 2021, with a catch up for those who miss the July payment. Definitely better than expected, and it seems like most associates are pretty happy. The bonus announcement was overshadowed a bit by the announcement that Atlanta associates are moving to the Cravath salary scale. It was a pretty good day for Eversheds associates in Atlanta

I'd appreciate a DM if you have this info.

[boris78]

Eversheds matched, paying in July and January for annualizing at/hitting billable target (1950) in 2021, with a catch up for those who miss the July payment. Definitely better than expected, and it seems like most associates are pretty happy. The bonus announcement was overshadowed a bit by the announcement that Atlanta associates are moving to the Cravath salary scale. It was a pretty good day for Eversheds associates in Atlanta

I'd appreciate a DM if you have this info.

[Anonymous User]

Steptoe matched today. Payments in July and December. Same scale as market so long as associates are on pace for 1900 hours.

Firm is super busy and so it really needed to match to keep associates on-board.

[Anonymous User]

Steptoe matched today. Payments in July and December. Same scale as market so long as associates are on pace for 1900 hours.

Firm is super busy and so it really needed to match to keep associates on-board.

Wow looks like we're going to start seeing the bottom half of the Am Law 100 give market special bonuses?

[Anonymous User]

Steptoe matched today. Payments in July and December. Same scale as market so long as associates are on pace for 1900 hours.

Firm is super busy and so it really needed to match to keep associates on-board.

Wow looks like we're going to start seeing the bottom half of the Am Law 100 give market special bonuses?

I mean, firms in the second 100 have been giving them out, so yes? It's pretty standard at this point, I would be more suprised if a firm is not giving them.

[PBRonTap]

Steptoe matched today. Payments in July and December. Same scale as market so long as associates are on pace for 1900 hours.

Firm is super busy and so it really needed to match to keep associates on-board.

Wow looks like we're going to start seeing the bottom half of the Am Law 100 give market special bonuses?

I mean, firms in the second 100 have been giving them out, so yes? It's pretty standard at this point, I would be more suprised if a firm is not giving them.

matched salary and bonuses or just bonuses?

[Anonymous User]

Steptoe matched today. Payments in July and December. Same scale as market so long as associates are on pace for 1900 hours.

Firm is super busy and so it really needed to match to keep associates on-board.

Duplicate

[Anonymous User]

Steptoe matched today. Payments in July and December. Same scale as market so long as associates are on pace for 1900 hours.

Firm is super busy and so it really needed to match to keep associates on-board.

Duplicate

[Anonymous User]

Steptoe matched today. Payments in July and December. Same scale as market so long as associates are on pace for 1900 hours.

Firm is super busy and so it really needed to match to keep associates on-board.

Wow looks like we're going to start seeing the bottom half of the Am Law 100 give market special bonuses?

I mean, firms in the second 100 have been giving them out, so yes? It's pretty standard at this point, I would be more suprised if a firm is not giving them.

matched salary and bonuses or just bonuses?

The message you are responding to is from before the salary increases came out, so at the time there were no salary increases to match. Still early to tell what the second 100 is going to do for salaries, but I would imagine at least some of them will eventually match.