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Associate Bonus Scales by Firm
Posted: Sun Jul 31, 2022 5:42 pm
by UndyingArtichoke
Someone please link me if this already exists on this forum or through some other source, e.g. ATL, but I've been surprised not to see it...
Wondering how each firm awards bonuses, and how much they give. E.g., seems like Cravath and Milbank are lockstep bonuses no matter what, some firms have a bonus for hitting a certain amount of hours and nothing after that, and some give $x/y% of base per marginal chunk of hours after target (e.g., Kirkland, Sidley, I think, but I don't know the formulas).
I can make an update a chart in this top post for awhile if there's interest and responses.
Re: Associate Bonus Scales by Firm
Posted: Sun Jul 31, 2022 7:58 pm
by Anonymous User
UndyingArtichoke wrote: ↑Sun Jul 31, 2022 5:42 pm
Someone please link me if this already exists on this forum or through some other source, e.g. ATL, but I've been surprised not to see it...
Wondering how each firm awards bonuses, and how much they give. E.g., seems like Cravath and Milbank are lockstep bonuses no matter what, some firms have a bonus for hitting a certain amount of hours and nothing after that, and some give $x/y% of base per marginal chunk of hours after target (e.g., Kirkland, Sidley, I think, but I don't know the formulas).
I can make an update a chart in this top post for awhile if there's interest and responses.
You won't really find this data because for most firms it's mushy. I've worked at two different firms that give above market bonuses, but the formulation for how much additional bonus you get is not clear. It's a mix of work product, hours, practice group, office location etc.
Re: Associate Bonus Scales by Firm
Posted: Sun Jul 31, 2022 9:29 pm
by Anonymous User
Some of the bonus memos linked in the ATL scorecard give you this information. But it's not compiled in an easy-to-read format.
https://abovethelaw.com/2021/11/biglaw- ... cker-2021/
Re: Associate Bonus Scales by Firm
Posted: Mon Aug 01, 2022 2:52 pm
by Anonymous User
Last year King & Spalding changed its bonus structure. It matched the Cravath/DP scale for all offices (1950 threshold to get a bonus), and then associates could get an additional 5% for every 100 hours over 1950. There's also a "leadership" bonus where some associates got an additional $5-10k.
Re: Associate Bonus Scales by Firm
Posted: Mon Aug 01, 2022 3:46 pm
by Anonymous User
WilmerHale offers $5k over market for 2200, adds $10k for 2500, and then another $10k for every 200 after that (2700, 2900, etc.). There's also a special/discretionary merit bonus that some get. Better than most firms for juniors, but it still leaves the seniors below some of their peers.
Re: Associate Bonus Scales by Firm
Posted: Mon Aug 01, 2022 4:47 pm
by Anonymous User
Anonymous User wrote: ↑Mon Aug 01, 2022 3:46 pm
WilmerHale offers $5k over market for 2200, adds $10k for 2500, and then another $10k for every 200 after that (2700, 2900, etc.). There's also a special/discretionary merit bonus that some get. Better than most firms for juniors, but it still leaves the seniors below some of their peers.
From 2200 to 2500, that's 300 hours for an additional 10K, or $33.33 per billing hour. As we know, billing hours require more than one real hour. Hang it up at 2200 and find a hobby, people.
Re: Associate Bonus Scales by Firm
Posted: Mon Aug 01, 2022 5:30 pm
by Anonymous User
Anonymous User wrote: ↑Mon Aug 01, 2022 4:47 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 3:46 pm
WilmerHale offers $5k over market for 2200, adds $10k for 2500, and then another $10k for every 200 after that (2700, 2900, etc.). There's also a special/discretionary merit bonus that some get. Better than most firms for juniors, but it still leaves the seniors below some of their peers.
From 2200 to 2500, that's 300 hours for an additional 10K, or $33.33 per billing hour. As we know, billing hours require more than one real hour. Hang it up at 2200 and find a hobby, people.
I know someone who billed like 1000 extra hours and got $35k to show for it. That's rough.
Re: Associate Bonus Scales by Firm
Posted: Tue Aug 02, 2022 2:25 pm
by Anonymous User
Anonymous User wrote: ↑Mon Aug 01, 2022 5:30 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 4:47 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 3:46 pm
WilmerHale offers $5k over market for 2200, adds $10k for 2500, and then another $10k for every 200 after that (2700, 2900, etc.). There's also a special/discretionary merit bonus that some get. Better than most firms for juniors, but it still leaves the seniors below some of their peers.
From 2200 to 2500, that's 300 hours for an additional 10K, or $33.33 per billing hour. As we know, billing hours require more than one real hour. Hang it up at 2200 and find a hobby, people.
I know someone who billed like 1000 extra hours and got $35k to show for it. That's rough.
Staring at that 18k check after taxes would be rough after having wasted so much time.
Re: Associate Bonus Scales by Firm
Posted: Tue Aug 02, 2022 3:14 pm
by Anonymous User
Fried Frank pays 15% additional bonus (based on market bonus for your class year, so 115% of market) at 2200+ and then at 2450+ you get another 15% (so 130% of market).
Re: Associate Bonus Scales by Firm
Posted: Tue Aug 02, 2022 3:32 pm
by Anonymous User
Anonymous User wrote: ↑Mon Aug 01, 2022 5:30 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 4:47 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 3:46 pm
WilmerHale offers $5k over market for 2200, adds $10k for 2500, and then another $10k for every 200 after that (2700, 2900, etc.). There's also a special/discretionary merit bonus that some get. Better than most firms for juniors, but it still leaves the seniors below some of their peers.
From 2200 to 2500, that's 300 hours for an additional 10K, or $33.33 per billing hour. As we know, billing hours require more than one real hour. Hang it up at 2200 and find a hobby, people.
I know someone who billed like 1000 extra hours and got $35k to show for it. That's rough.
I know someone at a V30 who went 700 over and got $3k.
Re: Associate Bonus Scales by Firm
Posted: Tue Aug 02, 2022 7:53 pm
by Antetrust
Anonymous User wrote: ↑Tue Aug 02, 2022 3:32 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 5:30 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 4:47 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 3:46 pm
WilmerHale offers $5k over market for 2200, adds $10k for 2500, and then another $10k for every 200 after that (2700, 2900, etc.). There's also a special/discretionary merit bonus that some get. Better than most firms for juniors, but it still leaves the seniors below some of their peers.
From 2200 to 2500, that's 300 hours for an additional 10K, or $33.33 per billing hour. As we know, billing hours require more than one real hour. Hang it up at 2200 and find a hobby, people.
I know someone who billed like 1000 extra hours and got $35k to show for it. That's rough.
I know someone at a V30 who went 700 over and got $3k.
Is there more to this story? Why did they only get $3k? Did they burn the building down the next day?
Re: Associate Bonus Scales by Firm
Posted: Tue Aug 02, 2022 8:02 pm
by Anonymous User
Antetrust wrote: ↑Tue Aug 02, 2022 7:53 pm
Anonymous User wrote: ↑Tue Aug 02, 2022 3:32 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 5:30 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 4:47 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 3:46 pm
WilmerHale offers $5k over market for 2200, adds $10k for 2500, and then another $10k for every 200 after that (2700, 2900, etc.). There's also a special/discretionary merit bonus that some get. Better than most firms for juniors, but it still leaves the seniors below some of their peers.
From 2200 to 2500, that's 300 hours for an additional 10K, or $33.33 per billing hour. As we know, billing hours require more than one real hour. Hang it up at 2200 and find a hobby, people.
I know someone who billed like 1000 extra hours and got $35k to show for it. That's rough.
I know someone at a V30 who went 700 over and got $3k.
Is there more to this story? Why did they only get $3k? Did they burn the building down the next day?
I mean, at a certain V2 you don't get anything above the lockstep no matter how much you bill, and you bill 3000 easy.
Re: Associate Bonus Scales by Firm
Posted: Tue Aug 02, 2022 9:07 pm
by Anonymous User
Anonymous User wrote: ↑Tue Aug 02, 2022 8:02 pm
Antetrust wrote: ↑Tue Aug 02, 2022 7:53 pm
Anonymous User wrote: ↑Tue Aug 02, 2022 3:32 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 5:30 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 4:47 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 3:46 pm
WilmerHale offers $5k over market for 2200, adds $10k for 2500, and then another $10k for every 200 after that (2700, 2900, etc.). There's also a special/discretionary merit bonus that some get. Better than most firms for juniors, but it still leaves the seniors below some of their peers.
From 2200 to 2500, that's 300 hours for an additional 10K, or $33.33 per billing hour. As we know, billing hours require more than one real hour. Hang it up at 2200 and find a hobby, people.
I know someone who billed like 1000 extra hours and got $35k to show for it. That's rough.
I know someone at a V30 who went 700 over and got $3k.
Is there more to this story? Why did they only get $3k? Did they burn the building down the next day?
I mean, at a certain V2 you don't get anything above the lockstep no matter how much you bill, and you bill 3000 easy.
But that prefTTTige equity...
Re: Associate Bonus Scales by Firm
Posted: Wed Aug 03, 2022 2:33 am
by Anonymous User
At my V20, I got 60% on top of my bonus for annualizing 2,500 client billables (I took leave a couple months parental leave, so was only a little over 2,100 for the year)
Re: Associate Bonus Scales by Firm
Posted: Wed Aug 03, 2022 8:36 am
by Anonymous User
Anonymous User wrote: ↑Wed Aug 03, 2022 2:33 am
At my V20, I got 60% on top of my bonus for annualizing 2,500 client billables (I took leave a couple months parental leave, so was only a little over 2,100 for the year)
Which firm? Is 60% standard for those hours or do you get KE-style associate-specific multipliers?
Re: Associate Bonus Scales by Firm
Posted: Wed Aug 03, 2022 7:26 pm
by Antetrust
Anonymous User wrote: ↑Tue Aug 02, 2022 8:02 pm
Antetrust wrote: ↑Tue Aug 02, 2022 7:53 pm
Anonymous User wrote: ↑Tue Aug 02, 2022 3:32 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 5:30 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 4:47 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 3:46 pm
WilmerHale offers $5k over market for 2200, adds $10k for 2500, and then another $10k for every 200 after that (2700, 2900, etc.). There's also a special/discretionary merit bonus that some get. Better than most firms for juniors, but it still leaves the seniors below some of their peers.
From 2200 to 2500, that's 300 hours for an additional 10K, or $33.33 per billing hour. As we know, billing hours require more than one real hour. Hang it up at 2200 and find a hobby, people.
I know someone who billed like 1000 extra hours and got $35k to show for it. That's rough.
I know someone at a V30 who went 700 over and got $3k.
Is there more to this story? Why did they only get $3k? Did they burn the building down the next day?
I mean, at a certain V2 you don't get anything above the lockstep no matter how much you bill, and you bill 3000 easy.
that's ridiculous lol
Re: Associate Bonus Scales by Firm
Posted: Thu Aug 04, 2022 5:29 pm
by Anonymous User
Anonymous User wrote: ↑Wed Aug 03, 2022 8:36 am
Anonymous User wrote: ↑Wed Aug 03, 2022 2:33 am
At my V20, I got 60% on top of my bonus for annualizing 2,500 client billables (I took leave a couple months parental leave, so was only a little over 2,100 for the year)
Which firm? Is 60% standard for those hours or do you get KE-style associate-specific multipliers?
60% isn’t hard if a junior associate.
Re: Associate Bonus Scales by Firm
Posted: Thu Aug 04, 2022 6:39 pm
by Anonymous User
V10 gave $50k to a few third years with hours above 2700. Rumor has it one of the third years was close to 4000 but they offered that associate the same $50k as the 2700ers.
Re: Associate Bonus Scales by Firm
Posted: Thu Aug 04, 2022 6:57 pm
by Anonymous User
Anonymous User wrote: ↑Thu Aug 04, 2022 6:39 pm
V10 gave $50k to a few third years with hours above 2700. Rumor has it one of the third years was close to 4000 but they offered that associate the same $50k as the 2700ers.
4000 just isn't healthy. Gonna burn out or drop dead. Assuming it's not from heavy padding, which is its own issue.
Re: Associate Bonus Scales by Firm
Posted: Sat Aug 20, 2022 3:24 pm
by Anonymous User
Does someone know this for Cooley and Gibson
Re: Associate Bonus Scales by Firm
Posted: Sat Aug 20, 2022 4:50 pm
by Anonymous User
Antetrust wrote: ↑Wed Aug 03, 2022 7:26 pm
Anonymous User wrote: ↑Tue Aug 02, 2022 8:02 pm
Antetrust wrote: ↑Tue Aug 02, 2022 7:53 pm
Anonymous User wrote: ↑Tue Aug 02, 2022 3:32 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 5:30 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 4:47 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 3:46 pm
WilmerHale offers $5k over market for 2200, adds $10k for 2500, and then another $10k for every 200 after that (2700, 2900, etc.). There's also a special/discretionary merit bonus that some get. Better than most firms for juniors, but it still leaves the seniors below some of their peers.
From 2200 to 2500, that's 300 hours for an additional 10K, or $33.33 per billing hour. As we know, billing hours require more than one real hour. Hang it up at 2200 and find a hobby, people.
I know someone who billed like 1000 extra hours and got $35k to show for it. That's rough.
I know someone at a V30 who went 700 over and got $3k.
Is there more to this story? Why did they only get $3k? Did they burn the building down the next day?
I mean, at a certain V2 you don't get anything above the lockstep no matter how much you bill, and you bill 3000 easy.
that's ridiculous lol
Ridiculous until you consider that the lockstep bonus at a certain V2 is typically 100% of base.
Re: Associate Bonus Scales by Firm
Posted: Sat Aug 20, 2022 5:51 pm
by Anonymous User
Anonymous User wrote: ↑Sat Aug 20, 2022 4:50 pm
Antetrust wrote: ↑Wed Aug 03, 2022 7:26 pm
Anonymous User wrote: ↑Tue Aug 02, 2022 8:02 pm
Antetrust wrote: ↑Tue Aug 02, 2022 7:53 pm
Anonymous User wrote: ↑Tue Aug 02, 2022 3:32 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 5:30 pm
Anonymous User wrote: ↑Mon Aug 01, 2022 4:47 pm
From 2200 to 2500, that's 300 hours for an additional 10K, or $33.33 per billing hour. As we know, billing hours require more than one real hour. Hang it up at 2200 and find a hobby, people.
I know someone who billed like 1000 extra hours and got $35k to show for it. That's rough.
I know someone at a V30 who went 700 over and got $3k.
Is there more to this story? Why did they only get $3k? Did they burn the building down the next day?
I mean, at a certain V2 you don't get anything above the lockstep no matter how much you bill, and you bill 3000 easy.
that's ridiculous lol
Ridiculous until you consider that the lockstep bonus at a certain V2 is typically 100% of base.
Pretty sure the person above you is referring to CravaTTTh, not $$Wachtell$$.
Re: Associate Bonus Scales by Firm
Posted: Sat Aug 20, 2022 7:24 pm
by Anonymous User
LW?
Re: Associate Bonus Scales by Firm
Posted: Sat Aug 20, 2022 9:39 pm
by Anonymous User
Goodwin is a little black box but they offer above market depending on combination of reviews and hours. Spread differs year-to-year but this past year you could get up to 1.75x.