Value of a class year bump Forum

[Anonymous User]

Testing the lateral waters and curious how much I should value the offer of a class year bump?

[Barrred]

I mean, you can literally value it by the difference in salary/bonus for the next year (or maybe the next 2-3 years, discounted to present value, if you want to get fancy).

But I think the overall value might depend on your year and goals. Spitballing here, but if you want to make partner, if you're too senior (but query how senior is too senior here) a class year bump at a new firm might mean you don't have enough time to make the connections and build a reputation required to make partner, such that you might just get pushed out instead. On the other hand, if you don't want to make partner and you're too senior, the class year bump might mean that you have less of a runway to spend at the firm before going in-house (or whatever your goals are).

A class year bump as 1st-5th year levels doesn't seem like it has any downside, and should just be valued by salary/bonus differential, assuming you're confident you can function at the increased seniority level in your specific practice area.

[Bdgerald]

I mean, you can literally value it by the difference in salary/bonus for the next year (or maybe the next 2-3 years, discounted to present value, if you want to get fancy).

But I think the overall value might depend on your year and goals. Spitballing here, but if you want to make partner, if you're too senior (but query how senior is too senior here) a class year bump at a new firm might mean you don't have enough time to make the connections and build a reputation required to make partner, such that you might just get pushed out instead. On the other hand, if you don't want to make partner and you're too senior, the class year bump might mean that you have less of a runway to spend at the firm before going in-house (or whatever your goals are).

A class year bump as 1st-5th year levels doesn't seem like it has any downside, and should just be valued by salary/bonus differential, assuming you're confident you can function at the increased seniority level in your specific practice area.

This is common advice on this site that I don't think holds an water anymore. There are very very few firms in this market that are truly up or out to the point where if you're not going to make partner they will force you out. In almost all cases they will let you sit at either senior associate/counsel role indefinitely until you either make partner or quit.

I don't think there's any good reason not to take the bump.

[Anonymous User]

I mean, you can literally value it by the difference in salary/bonus for the next year (or maybe the next 2-3 years, discounted to present value, if you want to get fancy).

But I think the overall value might depend on your year and goals. Spitballing here, but if you want to make partner, if you're too senior (but query how senior is too senior here) a class year bump at a new firm might mean you don't have enough time to make the connections and build a reputation required to make partner, such that you might just get pushed out instead. On the other hand, if you don't want to make partner and you're too senior, the class year bump might mean that you have less of a runway to spend at the firm before going in-house (or whatever your goals are).

A class year bump as 1st-5th year levels doesn't seem like it has any downside, and should just be valued by salary/bonus differential, assuming you're confident you can function at the increased seniority level in your specific practice area.

This is common advice on this site that I don't think holds an water anymore. There are very very few firms in this market that are truly up or out to the point where if you're not going to make partner they will force you out. In almost all cases they will let you sit at either senior associate/counsel role indefinitely until you either make partner or quit.

I don't think there's any good reason not to take the bump.

I’ve done the math to literally value it but because I’d be moving from a low to high cost city it’s almost a wash comp wise. I actually think the lower class year makes more after taxes and especially with housing.

I’m thinking more of the intangibles like path to partnership, but don’t know how much that’s worth. I’m very junior if it matters.