Firms that Pay Above Market to High Billers Forum

[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".

Depends on how close I am to the line. If it's December and I'm projecting maybe 20-50 hours out, I'm picking up that extra work to get paid. No reason to get 2/3 of the way to the bonus bump and not pick up the extra cash.

[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".

Depends on how close I am to the line. If it's December and I'm projecting maybe 20-50 hours out, I'm picking up that extra work to get paid. No reason to get 2/3 of the way to the bonus bump and not pick up the extra cash.

+1. Nobody starts on January 1 and says hell I really want that extra few thousand dollars for hundreds of hours of my time. But if you're already annualizing near the next tier and would have to coast at well below expected hours to land and the next lowest category, it's worth picking up some extra work to land in the next tier.

[objctnyrhnr]

Yeah I think the answer is you look at your workload in mid/late fall and look at what you might have left to hit the numbers in nov/dec and just decide if it’s worth it.

Important factors warranting consideration:

How much do I like spending time with my family during holidays
How much longer do I wanna be in biglaw
How close will I come ANYWAY based on existing workload/deadlines if I don’t even think about it

Balance that against how much of a push will truly be required (Ie how much it’s gonna hurt, if at all) and that’s how I decide.

[Anonymous User]

Cooley pays more to high billers, but it is pretty much a black box. A lot of people say 2400 is the magic number for a big bonus bump.

[peoplearehungry]

So far we have a pretty decent list but we could use help to fill it out even more. The updated list looks like this:

5. Latham: black box multiple for high billers (reported 1.5x at 2400 and 1.35x at 2500)
6. Kirkland: black box but major component of above-market bonus. Reported up to 2x market for "very high billers" + excellent merit evaluation score
11. Sidley Austin: "moderately-high biller" reports 1.5x market
16. White & Case: 1.2x market for 2400 (pure billable)
19. WilmerHale: $5,000 at 2200 hours plus another $10k at each of 2500, 2700, 2900, etc.
24. Cooley: Black box. 2400 hours for a "big bonus bump"
31. Arnold & Porter: 1.2x market for 2400 (must be at least 2200 client billable)
32. Orrick: $15k vacation at 2400 hours + black box above-market for unspecified "merit" (some correlation to hours)
34. DLA Piper: 10% for every 150 hours over the 2k target, and another 10% for the best performers (may vary year-to-year and by seniority)
39. King & Spalding: unspecified amount at 2200
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.)
54. McDermott Will & Emery: "a combo of performance and hours bonuses that can result in up to 2.0x historically"
56. Cadwalader: 1.2x market for 2200 (client billable only)
61. Reed Smith: "something"
62. Vinson & Elkins: 1.15x for 2150, 1.25x for 2300, 1.35x for 2500 and anything above 2500 is discretionary
64. Norton Rose: black box discretionary at 2050 and 2150
71. Sheppard Mullin: 1.1x market at 2200 hours; 1.2x market at 2400
79. Schulte Roth: Class year dependent at 2070 hrs $5-$15k; 2250 $10-$30k; 2430 $15-45k (may be lower hours threshold due to covid)
82. Katten: add'l bonus for each 100 hours above 2000, weighted by senority

NO ABOVE MARKET BONUS FOR HIGH BILLERS
10. Gibson Dunn?

[Anonymous User]

This is a good opportunity to loop in the both the Seamless budget data and megabackdoor Roth data while we're at it. As a 3L already locked in, this list honestly would have changed my decision (fuck "culture", pay me) and I think we can pass it along to the next class/future laterals

[Anonymous User]

Goodwin uses some funky formula to reward high billers. The special bonus targets change every year based on everyone's relative hours. Apparently reviews are considered in addition to billables so we can just go with "black box" on this one.

[Anonymous User]

Gibson does pay above market bonuses to high billers. They don't disclose what the standard is or where the hours bumps are, but the first bump is generally around 2100.

[Anonymous User]

Latham’s multiplier is not strictly tied to hour thresholds. It’s an overall indicator of performance and weighted more heavily in the busier offices (NY/DC). For example I have had slower years (just hitting the 1900 threshold, with over 400 hours of pro bono included in that total) and still received 1.3x market. In the NY office if you receive the standard base bonus year 4 and above it’s generally an indicator that your performance is below par (assuming you weren’t on some kind of medical/parental leave)

[Anonymous User]

King & Spalding anon from above, rechecking the firm compensation announcement, it appears I misremembered. There is an above-market bump for every 100 hours above the 1950 target. So bonus bumps would occur at 2050, 2150, 2250, etc. Billable hours include client billables, up to 100 pro bono hours (possibility for more with prior partner approval), and all legal work for the firm.

[Anonymous User]

dpw does not pay above-market bonuses for high billers (but you're essentially guaranteed a market bonus if you're at the firm at year end, even if your hours are low).

[Anonymous User]

Here is Winston & Strawn's, new for this year (1st column is hours, and includes pro bono other accountable hours, 2nd column is supplemental amount for 1st through 4th years and 3rd column is supplemental amount for 5th years+)

2,100 $2,000 $4,000
2,200 $5,000 $8,000
2,300 $8,000 $12,000
2,400 $12,000 $16,000
2,500 $15,000 $20,000
2,600 $20,000 $25,000
2,700 $25,000 $30,000

[Anonymous User]

This is a good opportunity to loop in the both the Seamless budget data and megabackdoor Roth data while we're at it. As a 3L already locked in, this list honestly would have changed my decision (fuck "culture", pay me) and I think we can pass it along to the next class/future laterals

Latham’s plan allows for mega backdoor Roth and it is an awesome perk.

[Anonymous User]

MoFo: 1.3x market bonus for 2500-2699, 1.4x for 2700-2899, 1.55x for 2900+.

[Anonymous User]

Any insight for Ropes & Gray multiplier? Are there various checkpoints (e.g., 2100+, 2300+, 2500+, etc.)?

[Anonymous User]

This is a good opportunity to loop in the both the Seamless budget data and megabackdoor Roth data while we're at it. As a 3L already locked in, this list honestly would have changed my decision (fuck "culture", pay me) and I think we can pass it along to the next class/future laterals

Latham’s plan allows for mega backdoor Roth and it is an awesome perk.

On the other hand, LW doesn't have any HDHP offerings so no HSA.

[peoplearehungry]

Sticking Cravath on the NO ABOVE-MARKET list.

Confirmed here: viewtopic.php?f=23&t=311124&start=725#p10496747

[Anonymous User]

Anyone have insight on Fenwick?

[Anonymous User]

This is a good opportunity to loop in the both the Seamless budget data and megabackdoor Roth data while we're at it. As a 3L already locked in, this list honestly would have changed my decision (fuck "culture", pay me) and I think we can pass it along to the next class/future laterals

Latham’s plan allows for mega backdoor Roth and it is an awesome perk.

On the other hand, LW doesn't have any HDHP offerings so no HSA.

If I had to pick one benefit or the other, it's the mega back door Roth by a mile. It allows you to save $38,500 in a tax advantaged account after maxing out your traditional 401(k). HSA limit is $3,600.

[Anonymous User]

Akin Gump pays bonuses for high billers with good performance, but the standards aren’t published. I’ve never received the extra bonus, but from talking to others, I think it’s something like an extra $5,000 starting at 2,300 or 2,400 hours, then an additional $5,000 for each 100-hour increment after that.

[Anonymous User]

Kellogg, which is not on the Cravath scale, pays bonus according to hours and the gaps between the bonus amounts are significant - such that it could affect how much you want to bill per year. It seems at basically every major big law firm on Cravath scale, if you do the math, unless you value your time at like $20-$30/hour, extra bonus should not affect how much you're willing to work except on the very margin.

[Anonymous User]

WLRK /s

[Anonymous User]

STB pays above-market retention bonuses to certain associates.

Can anyone elaborate on this? Target hours for above market/retention or is this non hours based?

[Anonymous User]

Goodwin uses some funky formula to reward high billers. The special bonus targets change every year based on everyone's relative hours. Apparently reviews are considered in addition to billables so we can just go with "black box" on this one.

Confirmed. Goodwin's is not based solely on hours but is a combination of hours + reviews. So you could hit the hours minimum to be bonus eligible but still get an above-market bonus if you have distinctive reviews. It is black box-y but based on talking to a handful of associates last year I think it was an extra .2X for hours and .2X for distinctive reviews. So you could make a max 1.4x of market if you were a high biller + distinctive. Last year the firm told associates that 43% of bonus-eligible associates received an above market bonus so it's a pretty big chunk of associates who get paid above market. Whatever defines high biller seems to change year to year and was not revealed but I think there may be some discretion to that piece too, a lot seems to be decided at the practice area level.

[Anonymous User]

STB pays above-market retention bonuses to certain associates.

Can anyone elaborate on this? Target hours for above market/retention or is this non hours based?

Lowest hours I have heard of for 3rd years is 2400.