Advice re Lateral Bonus Forum

[Anonymous User]

I am going to lateral to a new firm soon (I have already accepted the offer, but we are finalizing start dates).

I have not told my old firm. I don't plan to tell them until I receive my bonus, which is likely to happen around December 15th (they historically pay out the bonus around then).

The new firm is giving me a $25K in signing bonus, as per the accepted offer letter.

The question is, what happens if my old firm (the one still employing me now) says that it will be giving all associates in good standing the new DPW special bonus, but make those payouts later in time, such as on Dec. 31?

Should I ask the new firm I will be going to to add the new bonus on top of the signing bonus (and will I have any negotiating leverage given that I've already accepted the offer)? Or should I try to stick around the current firm until Dec 31 and collect the special bonus from them? The problem with that second option is that I'm on some really busy matters and I was hoping to mentally just check out around the holidays and still leave on good terms. But if I don't give notice until after receiving the new bonus, I'm gonna have a really busy, shitty next month or so (including potentially helping on a trial that is set to begin in early January!). So sticking around to be able to receive the special bonus around Dec. 31 will prevent me from giving notice sooner and even potentially have to give notice right before a trial starts, which is a shitty thing to do.

Any advice?

[Anonymous User]

I am going to lateral to a new firm soon (I have already accepted the offer, but we are finalizing start dates).

I have not told my old firm. I don't plan to tell them until I receive my bonus, which is likely to happen around December 15th (they historically pay out the bonus around then).

The new firm is giving me a $25K in signing bonus, as per the accepted offer letter.

The question is, what happens if my old firm (the one still employing me now) says that it will be giving all associates in good standing the new DPW special bonus, but make those payouts later in time, such as on Dec. 31?

Should I ask the new firm I will be going to to add the new bonus on top of the signing bonus (and will I have any negotiating leverage given that I've already accepted the offer)? Or should I try to stick around the current firm until Dec 31 and collect the special bonus from them? The problem with that second option is that I'm on some really busy matters and I was hoping to mentally just check out around the holidays and still leave on good terms. But if I don't give notice until after receiving the new bonus, I'm gonna have a really busy, shitty next month or so (including potentially helping on a trial that is set to begin in early January!). So sticking around to be able to receive the special bonus around Dec. 31 will prevent me from giving notice sooner and even potentially have to give notice right before a trial starts, which is a shitty thing to do.

Any advice?

Hi OP - I'm planning on giving notice too and was wondering how long you are giving notice for and when your last day would be? I'm wondering if I can clock out on the 16th as well to have the holidays truly to myself.

[Anonymous User]

My initial hope was to give notice 2 weeks before my last day as I thought that was standard. But now that there are these new DPW "special bonuses" on the table I am unsure when exactly to give notice because the firm may not award me the bonus if I give notice such that my last day is the 31st. I am considering asking the new firm if it might give me that bonus but not sure they will (they had already agreed to give me a signing bonus and may not like this additional request).

[Anonymous User]

I did something similar when lateraling last year. Had accepted an offer and was in the process of figuring out a start date when my old firm announced they would be repaying us for prior salary cuts, but waiting until the pay date to give notice would delay my start at the new firm. I told the new firm and they agreed to up my bonus by the amount that my old firm would have paid me if I didn't delay my start date. I accepted, and my old firm ended up paying me anyway after I had given notice.

[Anonymous User]

Well, in my case the new firm has said it won't pay the special bonus. Kind of surprised and disappointed, to be honest, especially as this firm is a large firm that has been having a lot of financial success lately and is known to give large lateral bonuses. So now I just have to risk that I'll lose the special bonus altogether if the old firm won't pay it to me after I give notice.