how do bonuses work for laterals Forum
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Anonymous User
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how do bonuses work for laterals
I started at my new firm in February of this year. How do bonuses work for laterals? Is it, if you hit your bonus target on a pro-rated basis, you get the full bonus??
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LittleRedCorvette
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Re: how do bonuses work for laterals
Is this not something normally negotiated with the new firm before lateralling?Anonymous User wrote: ↑Sat Jul 31, 2021 12:03 pmI started at my new firm in February of this year. How do bonuses work for laterals? Is it, if you hit your bonus target on a pro-rated basis, you get the full bonus??
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hdr
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Re: how do bonuses work for laterals
You're supposed to negotiate that before you accept, though since you started in February, it would be crazy for them not to give you a pro-rated bonus.
In this market, I would think associates lateraling would be able to negotiate a big signing bonus plus a pro-rated year-end bonus.
In this market, I would think associates lateraling would be able to negotiate a big signing bonus plus a pro-rated year-end bonus.
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Joachim2017
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Re: how do bonuses work for laterals
hdr wrote: ↑Sat Jul 31, 2021 10:35 pmYou're supposed to negotiate that before you accept, though since you started in February, it would be crazy for them not to give you a pro-rated bonus.
In this market, I would think associates lateraling would be able to negotiate a big signing bonus plus a pro-rated year-end bonus.
I really doubt this applies to just any lateral. I think it really only applies on the transactional side, and even then in certain practice areas, and for seniors. I'd be highly surprised if litigation hires could pull off big signing bonuses.
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Anonymous User
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Re: how do bonuses work for laterals
That was what I negotiated when I lateraled. I don't think they even offered a pro-rated bonus.Anonymous User wrote: ↑Sat Jul 31, 2021 12:03 pmI started at my new firm in February of this year. How do bonuses work for laterals? Is it, if you hit your bonus target on a pro-rated basis, you get the full bonus??
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Anonymous User
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Re: how do bonuses work for laterals
At my firm, all laterals get the full year-end bonus regardless of whether they hit pro-rated hours or when they lateraled.
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Anonymous User
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Re: how do bonuses work for laterals
Yeah I recently lateralled as a midlevel. When I started there were like 4.5 months left in the fiscal year, and I was offered a non-prorated bonus (i.e., the full amount) and it's not tied to hours.
Plus a not-huge signing bonus plus the remaining fall COVID retention bonus payment. But yes, I am transactional.
Plus a not-huge signing bonus plus the remaining fall COVID retention bonus payment. But yes, I am transactional.
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Anonymous User
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Re: how do bonuses work for laterals
How much was the signing? What yr are you?Anonymous User wrote: ↑Tue Aug 03, 2021 2:47 pmYeah I recently lateralled as a midlevel. When I started there were like 4.5 months left in the fiscal year, and I was offered a non-prorated bonus (i.e., the full amount) and it's not tied to hours.
Plus a not-huge signing bonus plus the remaining fall COVID retention bonus payment. But yes, I am transactional.
