Firms that Pay Above Market to High Billers Forum

[peoplearehungry]

This is coming up in another thread, but I think it deserves its own attention. Does your firm pay you above-market bonuses if you are a high biller? If so, what amounts at what thresholds? From the other thread, we have the following information (Vault-ordered):

5. Latham: 1.5x market at 2400?
31. Arnold & Porter: 1.2x market for 2400 (must be at least 2200 client billable)
40. Mayer Brown: 1.15x market for 2100; 1.2x for 2200; 1.3x for 2300
46. Fried Frank: 1.15x market for 2200; 1.3x market for 2450
47. Baker Botts: something (unspecified)
51. Dechert: 1.3x market for 2200; 1.4x market for 2400 (apply only to client billable hours, no pro-bono, etc.)
56. Cadwalader: 1.2x market for 2250(?)(also reported at 2200) (client billable only)
82. Katten: add'l bonus for each 100 hours above 2000, weighted by senority

NO ABOVE MARKET BONUS FOR HIGH BILLERS
Gibson Dunn?

[Anonymous User]

SRZ (V79) did when I was there a few years ago.

+$20K at 2300, +additional $20K at 2500 for all class years. This was upped from, what had been, +$10 at both thresholds.

[Anonymous User]

Any intel on White & Case would be greatly appreciated

[Anonymous User]

Schulte Roth:
Depending on class year:
2070: $5k-15k total (1.3x-1.15x)
2250: $10k-30k total (1.6x -1.3x)
2430: $15-45k total (2x - 1.5x)

Hour thresholds may go back to 2300/2500 after COVID for last two thresholds (and nothing for 2070).

[Anonymous User]

NRF pays discretionary bonus above market for 2050 and 2150 + hours. New program this year…no idea how much or how discretionary it is.

[Anonymous User]

Until this year, King & Spalding would pay some set amount, e.g., $35, for every hour over the bonus target. Now, they've standardized their pay and bonus threshold across offices, moving the hours requirement to 1950, and have announced they will give some amount to those who hit 2200 or above. TBD on what that amount is.

[Anonymous User]

I know V&E pays above market bonuses to high billers (summered there). Not sure about the numbers, though.

[Anonymous User]

Orrick provides a 15k vacation at 2400.

[Anonymous User]

Orrick provides a 15k vacation at 2400.

they also provide above-market bonuses based on "merit" which is often, but from my understanding not always, correlated to hours.

[Anonymous User]

WilmerHale provides $5k extra bonus when you hit 2200 (lol).

[Anonymous User]

I'm a Latham mid-level and got 1.35x for 2500h last year.

[Anonymous User]

Kirkland is black box but hours are a major component of above-market bonuses, with some very high billers (who receive excellent merit scores in annual review) approaching 2x market bonuses.

[Anonymous User]

Reed Smith has something above market as well

[Anonymous User]

Any intel on White & Case would be greatly appreciated

2400 pure billable for 1.2x on EOY

[Anonymous User]

STB pays above-market retention bonuses to certain associates.

[Anonymous User]

WilmerHale provides $5k extra bonus when you hit 2200 (lol).

And another $10k at each of 2500, 2700, 2900, etc.

[Anonymous User]

McDermott pays a combo of performance and hours bonuses that can result in up to 2.0x historically.

[Anonymous User]

I know V&E pays above market bonuses to high billers (summered there). Not sure about the numbers, though.

V&E pays 1.15x for 2150, 1.25x for 2300, 1.35x for 2500 and anything above 2500 is discretionary, though I would assume decently generous.

[Anonymous User]

56. Cadwalader: 1.2x market for 2250(?)(also reported at 2200) (client billable only)

Current CWT associate. Can confirm that CWT is 2200 billable, not 2250, for 120%.

[Anonymous User]

Moderately high biller. Have gotten 1.5x at Sidley in recent years. Seems like they’re trying to be competitive with K&E.

[Anonymous User]

STB pays above-market retention bonuses to certain associates.

For all class years? And is this more hours or skill related?

[Anonymous User]

Dla piper pays another 10% for every 150 hours over the 2k target, and another 10% for the best performers.

Those are approx. they may vary year to year a bit, and also might vary a bit based on seniority. After market match it’s a bit of a black box but if you get good evals and/or 2150 you’ll get something solid.

[Anonymous User]

It's a joke. Totally not worth it. Unless you want to impress the partners.

[Anonymous User]

Genuinely curious does anyone bill more to get these extra boni? Or is it more like "I'm being worked to the bone anyway, least they could is give me some extra cash".

[Anonymous User]

Sheppard Mullin gives a "meh"-worthy +10% to your annual bonus at 2200 hours and +20% to your annual bonus at 2400 hours. They also give discretionary bonuses but those are relatively small and usually given to those whose hours do not qualify them for the standard annual bonus.