2021 End of Year Bonuses Forum

[Anonymous User]

GDC matched (duh)

[Anonymous User]

GDC matched (duh)

The frustrating part (as a midlevel who had a brutally rough year) is that, by sending out a memo stating what each class year will get, the memo from the managing partner seems to suggest that GDC is parting ways from its prior practice of handing out individualized higher bonuses to high billers.

[Anonymous User]

Does anyone have experience how EOY bonuses are impacted if one took parental leave during the year (assuming the firm has no minimum billable requirement)?

Firm dependent, but my firm definitely pro-rates bonus based on time out on parental leave, and I think that is the more “market” practice.

[Anonymous User]

Shearman matched yesterday.

[Anonymous User]

GDC matched (duh)

The frustrating part (as a midlevel who had a brutally rough year) is that, by sending out a memo stating what each class year will get, the memo from the managing partner seems to suggest that GDC is parting ways from its prior practice of handing out individualized higher bonuses to high billers.

They’ve announced overall bonus increases like this before. The thing is NY associates don’t get the extra bonuses for higher hours, so she wouldn’t mention it in the memo.

[Anonymous User]

Does anyone have experience how EOY bonuses are impacted if one took parental leave during the year (assuming the firm has no minimum billable requirement)?

Firm dependent, but my firm definitely pro-rates bonus based on time out on parental leave, and I think that is the more “market” practice.

My firm (White & Case) prorates the hours requirement but gives full bonus if you hit prorated hours.

[Anonymous User]

Any news from Cooley or other tech firms?

[Anonymous User]

What about Gibson Dunn? New managing partner, in NY, ready to come over the top?

(Sorry for any false hope)

-GDC Associate

Another GDC associate here and the chance of GDC raising is 0%.

I used to work at GDC, and the managing partner of our office literally told us they would never be the market leader.

[Anonymous User]

GDC matched (duh)

The frustrating part (as a midlevel who had a brutally rough year) is that, by sending out a memo stating what each class year will get, the memo from the managing partner seems to suggest that GDC is parting ways from its prior practice of handing out individualized higher bonuses to high billers.

So an associate who sits in NY, one of the most expensive cities in the world, and bills 2500 hours doesn’t get an above market bonus, but the same person sitting in Dallas does get that bonus (and the same base)? As someone who recently lateraled to GDC NY, that can’t possible be right - but is it?

[Anonymous User]

GDC matched (duh)

The frustrating part (as a midlevel who had a brutally rough year) is that, by sending out a memo stating what each class year will get, the memo from the managing partner seems to suggest that GDC is parting ways from its prior practice of handing out individualized higher bonuses to high billers.

So an associate who sits in NY, one of the most expensive cities in the world, and bills 2500 hours doesn’t get an above market bonus, but the same person sitting in Dallas does get that bonus (and the same base)? As someone who recently lateraled to GDC NY, that can’t possible be right - but is it?

sure is

[Anonymous User]

GDC matched (duh)

The frustrating part (as a midlevel who had a brutally rough year) is that, by sending out a memo stating what each class year will get, the memo from the managing partner seems to suggest that GDC is parting ways from its prior practice of handing out individualized higher bonuses to high billers.

So an associate who sits in NY, one of the most expensive cities in the world, and bills 2500 hours doesn’t get an above market bonus, but the same person sitting in Dallas does get that bonus (and the same base)? As someone who recently lateraled to GDC NY, that can’t possible be right - but is it?

sure is

(Frustrated Midlevel here)
To be fair, maybe high billers will learn in their individual year end meetings that high billers are getting above market bonuses. It just does not appear to be the case based on that memo.

[Anonymous User]

GDC matched (duh)

The frustrating part (as a midlevel who had a brutally rough year) is that, by sending out a memo stating what each class year will get, the memo from the managing partner seems to suggest that GDC is parting ways from its prior practice of handing out individualized higher bonuses to high billers.

So an associate who sits in NY, one of the most expensive cities in the world, and bills 2500 hours doesn’t get an above market bonus, but the same person sitting in Dallas does get that bonus (and the same base)? As someone who recently lateraled to GDC NY, that can’t possible be right - but is it?

sure is

(Frustrated Midlevel here)
To be fair, maybe high billers will learn in their individual year end meetings that high billers are getting above market bonuses. It just does not appear to be the case based on that memo.

I have been told this is a decision by the NYC PICs, everyone in NY gets a bonus whether they hit hours or not and no one gets extra because they consider it NYC market. PICs in the other offices decided to enforce the hours requirement and with it give extra to high billers.

[Anonymous User]

Dechert matched

[Anonymous User]

GDC matched (duh)

The frustrating part (as a midlevel who had a brutally rough year) is that, by sending out a memo stating what each class year will get, the memo from the managing partner seems to suggest that GDC is parting ways from its prior practice of handing out individualized higher bonuses to high billers.

So an associate who sits in NY, one of the most expensive cities in the world, and bills 2500 hours doesn’t get an above market bonus, but the same person sitting in Dallas does get that bonus (and the same base)? As someone who recently lateraled to GDC NY, that can’t possible be right - but is it?

sure is

Generally speaking, all compensation policies for associates are identical between a TX and NYC office, at least for the big national firms like GDC. That would include a 2500 associate getting a higher bonus in both offices, or neither of them getting it. Cost of living and taxes being higher or lower doesn't enter the equation (which is why practicing in TX is such an awesome scam lol). The Dallas associate gets the same bonus, pays ~11% less taxes on it, and then spends less of it on cost of living.

[Anonymous User]

Ropes matched

[Anonymous User]

GDC matched (duh)

The frustrating part (as a midlevel who had a brutally rough year) is that, by sending out a memo stating what each class year will get, the memo from the managing partner seems to suggest that GDC is parting ways from its prior practice of handing out individualized higher bonuses to high billers.

So an associate who sits in NY, one of the most expensive cities in the world, and bills 2500 hours doesn’t get an above market bonus, but the same person sitting in Dallas does get that bonus (and the same base)? As someone who recently lateraled to GDC NY, that can’t possible be right - but is it?

sure is

Generally speaking, all compensation policies for associates are identical between a TX and NYC office, at least for the big national firms like GDC. That would include a 2500 associate getting a higher bonus in both offices, or neither of them getting it. Cost of living and taxes being higher or lower doesn't enter the equation (which is why practicing in TX is such an awesome scam lol). The Dallas associate gets the same bonus, pays ~11% less taxes on it, and then spends less of it on cost of living.

GDC Associate here. There is no minimum-hours bonus threshold for associates in NYC, unlike every other office, so if NYC associates don't get higher-billable bumps (I'm not an NYC associate, so I'm not sure this is actually true) it would be because the firm doesn't consider their hours in paying bonuses. In terms of fairness, it means that the NYC associate who billed 2500 this year can bill 1600 next year when the market slows down and still get a bonus, unlike her TX peers who would get no bonus for billing the same number of hours.

[washdc2012]

Ropes matched

Actually, Ropes' EOY bonus is $15k more for 2013+ ($130k vs. $115k), which is significant.

[Anonymous User]

Where the f are the DC firms with these special bonuses. Hogan matched the EOY bonuses but crickets on special bonuses, or so it seems. Arnold & PorTTTer and CovingTTTon are silent.

[Anonymous User]

Where the f are the DC firms with these special bonuses. Hogan matched the EOY bonuses but crickets on special bonuses, or so it seems. Arnold & PorTTTer and CovingTTTon are silent.

[Anonymous User]

Where the f are the DC firms with these special bonuses. Hogan matched the EOY bonuses but crickets on special bonuses, or so it seems. Arnold & PorTTTer and CovingTTTon are silent.

Edit: OP - Not sure how this posted three times. This is prob why us DC lawyers don't deserve special bonuses.

[Anonymous User]

Where the f are the DC firms with these special bonuses. Hogan matched the EOY bonuses but crickets on special bonuses, or so it seems. Arnold & PorTTTer and CovingTTTon are silent.

Edit: OP - Not sure how this posted three times. This is prob why us DC lawyers don't deserve special bonuses.

Arnold and PorTTTer traditionally waits until the "DC Market" (set by CovingTTTon) is set, then waits 4 weeks, then waits for a wave of mass associate resignations, then another 6 weeks, then it holds a "listening session" with its handful of remaining associates, then waits another 3 weeks, and then it matches. Again, this is just standard practice from years past, not necessarily set in stone.

[Anonymous User]

Looks like Ropes promising above market bonuses to anybody over 2000 hours according to the bonus memo on ATL.

Also Dechert with a 30% bump for 2200+ hours and 40% bump for 2400+ hours seems to be higher than other firms offering extra bonuses to high billers.

[Anonymous User]

SRZ match yesterday + bumps for high billers.

https://abovethelaw.com/2021/12/srz-bonus-2021/

[Anonymous User]

Looks like Ropes promising above market bonuses to anybody over 2000 hours according to the bonus memo on ATL.

Also Dechert with a 30% bump for 2200+ hours and 40% bump for 2400+ hours seems to be higher than other firms offering extra bonuses to high billers.

So, pretty much every firm agreed DPW scale was too low and is going with above market - they've just been given free reign to make it black box, reward the highest profit centers and their associates are going to be pleased they're "above market". I mean, I think everyone wins here except for Cravath/DPW associates who are getting paid materially worse than peer and lower ranked firms.

[Anonymous User]

Where the f are the DC firms with these special bonuses. Hogan matched the EOY bonuses but crickets on special bonuses, or so it seems. Arnold & PorTTTer and CovingTTTon are silent.

Edit: OP - Not sure how this posted three times. This is prob why us DC lawyers don't deserve special bonuses.

isn't DC just lifestyle regulatory work