Big Law: Bonus Negotiations? Forum

[Anonymous User]

Has anyone actually heard of anyone negotiating a signing bonus, relocation bonus, bar fees, etc. successfully? If so, how did they do it?

[AntipodeanPhil]

I've done it before, but in my case I had an offer from one firm with a bonus, and so when I got an offer from a second firm I told them about the bonus at the first firm and they matched the bonus and threw in some better benefits to seal the deal (no cap on moving expenses, more time off for bar exam). I had a friend with only one offer who has able to negotiate a bonus by pointing out to the firm that he knew a couple of other people who had joined that firm recently and received bonuses.

[Anonymous User]

I've done it before, but in my case I had an offer from one firm with a bonus, and so when I got an offer from a second firm I told them about the bonus at the first firm and they matched the bonus and threw in some better benefits to seal the deal (no cap on moving expenses, more time off for bar exam). I had a friend with only one offer who has able to negotiate a bonus by pointing out to the firm that he knew a couple of other people who had joined that firm recently and received bonuses.

Thanks for your reply - are these experiences as a lateral hire?

[Monochromatic Oeuvre]

Things are negotiated all the time in lateral hiring. You would be an idiot not to.

I don't understand the question. How do you negotiate? You get an offer letter that says X and you tell them (or your recruiter) you want Y.

[Anonymous User]

Things are negotiated all the time in lateral hiring. You would be an idiot not to.

I don't understand the question. How do you negotiate? You get an offer letter that says X and you tell them (or your recruiter) you want Y.

Obviously they are looking for tips, and not a summary of what it means at a broad level to negotiate...

[Monochromatic Oeuvre]

Things are negotiated all the time in lateral hiring. You would be an idiot not to.

I don't understand the question. How do you negotiate? You get an offer letter that says X and you tell them (or your recruiter) you want Y.

Obviously they are looking for tips, and not a summary of what it means at a broad level to negotiate...

This is why I said I don't understand the question. Are there "tips" for asking for more money? Like, are you guys coming up with elaborate rationales for it or something? You can just say you want the money. I guess don't offer something patently insane? Like, don't propose a $100k signing bonus if you're a second-year tax associate in Pittsburgh. That will probably end the conversation before you get anywhere.

It's not really helpful to point out the firm customarily offers X. They know how they operate. The only really "strategy" I can think of is saying that you want X in order to match [competitor]'s offer. That offer may, but does not have to, exist; they're not gonna check and the other firm wouldn't admit it even if they did. At the end of your negotiation you may hear that X is your final offer or that they're prepared to offer Y but only if you promise to accept in the next day or so.

The best way to go about getting the most money is, unsurprisingly, getting as many offers as you can and starting your own auction. So I guess a tip related to interviewing more than negotiating: Go through the process with as many firms as you can handle. You might feel like just skipping your 10th choice, but it may turn out they become your top choice when you see what they're offering. You never really know; you will probably be surprised at which firms will offer significantly more than others. You'll also see some substantive variation in terms (many, but not all, firms will waive or reduce hours requirements for bonuses at certain times; signing bonuses will lock up/vest on different schedules). If you have a ton of offers, you can be a much more aggressive negotiator because you'll actually be prepared to follow through when you tell a firm you'll discard them if their offer stays shitty.

At the end of my negotiation process (probably about two weeks total, as offers came in), I asked my recruiter if we had any more room to move anywhere (after several firms had improved offers two or three times) and was told that every firm had grown "aggravated" by my asks. That was extremely reassuring for me; it's how I know I completely tapped the well.

[Anonymous User]

Has anyone successfully gotten their current firm to match a signing bonus that a peer firm is offering? What is the typical process for doing that?

[Anonymous User]

Does anyone have experience in the lateral interviewing market (as a litigator) and was proposed, by a firm, to take a class year/seniority haircut? Advantage might be that you get more time at the new firm to develop relationships before being up for partner, but it's also kind of an ego hit during negotiations, not to mention when you actually start...

[Anonymous User]

This is probably a dumb question, but can you negotiate among firms if you're a 3L hire? (Nowadays a lot of firms have diff $$ with summer stipend, 1st year salary, etc.)

[Definitely Not North]

This is probably a dumb question, but can you negotiate among firms if you're a 3L hire? (Nowadays a lot of firms have diff $$ with summer stipend, 1st year salary, etc.)

my how times have changed

[Monochromatic Oeuvre]

Has anyone successfully gotten their current firm to match a signing bonus that a peer firm is offering? What is the typical process for doing that?

Yes. People I worked with did it this year.

If there is a more complicated process than "[Competitor] offered [X] to poach me, would you be willing to match that for retention?", I'm not aware of it.

[Anonymous User]

Is it standard to negotiate your full bonus in the current market if leaving before end of year but opportunistically? I have been applying to firms I am particularly interested in and not blanketing firms, so I don’t foresee a bidding war situation. But I also don’t want to give up my bonus at current firm without getting it at a new place.

[Anonymous User]

Is it standard to negotiate your full bonus in the current market if leaving before end of year but opportunistically? I have been applying to firms I am particularly interested in and not blanketing firms, so I don’t foresee a bidding war situation. But I also don’t want to give up my bonus at current firm without getting it at a new place.

What practice group are you in? I’m in a somewhat busy group and it was a given that they’d match my year end if I started before bonuses hit.

[Anonymous User]

Is it standard to negotiate your full bonus in the current market if leaving before end of year but opportunistically? I have been applying to firms I am particularly interested in and not blanketing firms, so I don’t foresee a bidding war situation. But I also don’t want to give up my bonus at current firm without getting it at a new place.

What practice group are you in? I’m in a somewhat busy group and it was a given that they’d match my year end if I started before bonuses hit.

Even if you join in Nov/Dec?

[Anonymous User]

Is it standard to negotiate your full bonus in the current market if leaving before end of year but opportunistically? I have been applying to firms I am particularly interested in and not blanketing firms, so I don’t foresee a bidding war situation. But I also don’t want to give up my bonus at current firm without getting it at a new place.

What practice group are you in? I’m in a somewhat busy group and it was a given that they’d match my year end if I started before bonuses hit.

Even if you join in Nov/Dec?

Yes. I’m joining in November. I think the calculus is that if new associate bills 160ish hours in one month that more than makes up for the bonus.

[Anonymous User]

I'm joining a new firm in November. Didn't reach out to any other firms, so no bidding war. They're paying me a six-figure signing bonus and six-figure guaranteed year-end bonus two months later. But this firm is known for this sort of thing, so YMMV

[Anonymous User]

I'm joining a new firm in November. Didn't reach out to any other firms, so no bidding war. They're paying me a six-figure signing bonus and six-figure guaranteed year-end bonus two months later. But this firm is known for this sort of thing, so YMMV

Assuming you’re in M&A/PE/cap markets? I wasn’t able to get the signing bonus in my practice area and the recruiter said it was mostly reserved for those groups.

[Anonymous User]

I'm joining a new firm in November. Didn't reach out to any other firms, so no bidding war. They're paying me a six-figure signing bonus and six-figure guaranteed year-end bonus two months later. But this firm is known for this sort of thing, so YMMV

Assuming you’re in M&A/PE/cap markets? I wasn’t able to get the signing bonus in my practice area and the recruiter said it was mostly reserved for those groups.

I'm not in any of those groups, but I'm a transactional group that is adjacent to them.

[Anonymous User]

I'm joining a new firm in November. Didn't reach out to any other firms, so no bidding war. They're paying me a six-figure signing bonus and six-figure guaranteed year-end bonus two months later. But this firm is known for this sort of thing, so YMMV

Assuming you’re in M&A/PE/cap markets? I wasn’t able to get the signing bonus in my practice area and the recruiter said it was mostly reserved for those groups.

I'm not in any of those groups, but I'm a transactional group that is adjacent to them.

Now I feel like I left money on the table…

[goldenbear92]

I'm joining a new firm in November. Didn't reach out to any other firms, so no bidding war. They're paying me a six-figure signing bonus and six-figure guaranteed year-end bonus two months later. But this firm is known for this sort of thing, so YMMV

What year are you? Curious if you would have gotten the same YE bonus at your current firm (vs getting + as an incentive. Thank you and good job.

[Anonymous User]

I'm joining a new firm in November. Didn't reach out to any other firms, so no bidding war. They're paying me a six-figure signing bonus and six-figure guaranteed year-end bonus two months later. But this firm is known for this sort of thing, so YMMV

What year are you? Curious if you would have gotten the same YE bonus at your current firm (vs getting + as an incentive. Thank you and good job.

Not that poster, but I’ve secured similar offers as a mid level. Had my estimated above market year-end bonus matched or beat (I told them what percentage of the bonus scale I got last year) and got six-figure signing bonus.