As is always the case, Skadden is 1800 hours (really 1650 by Nov 30 since they annualize hours and pay bonus mid Dec), with unlimited pro Bono and up to 100 hours of biz dev etc. less than 1800 is half bonus, but way way less and it’s zilch. Two most senior class years (2015/2016) have a 10k above market discretionary kicker (again, always the case).Anonymous User wrote: ↑Wed Nov 30, 2022 3:29 pmAlso heard of McDermott match
but curious to know what the details are (hours cutoffs? etc.) for both firms are.
EOY Bonuses Forum
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Re: EOY Bonuses
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Re: EOY Bonuses
Anyone know what the additional above-market percentage is PER 100 hours above 1950 for King and Spalding?
Does that percentage increase by seniority and, if so, what is it for a sixth year?
Does that percentage increase by seniority and, if so, what is it for a sixth year?
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Re: EOY Bonuses
If you are looking for a market-paying firm, look elsewhere. That old, hourly-kicker bonus scale is long gone and in its place are black box discretionary (and uniformly lower than pre-COVID) "leadership" bonuses that are solely the product of closed door conversations between equity partner PGLs and idiot-stooges like Michelle Carter and Lisa Keyes.Anonymous User wrote: ↑Wed Nov 30, 2022 5:31 pmAnyone know what the additional above-market percentage is PER 100 hours above 1950 for King and Spalding?
Does that percentage increase by seniority and, if so, what is it for a sixth year?
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Re: EOY Bonuses
Wait what? Spalding pays market base every year that AT LEAST matches DPW/Cravath at 1950 hours. And we literally have an email from last year explicitly stating that you get ABOVE MARKET kickers every 100 hours above. I'm at like 2550 for the year so wanted to know what that % was.
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Re: EOY Bonuses
My understanding is that it is 5% of the base bonus per 100 hours. In other words, since you said you are a 6th year (class of 2016), you would get 5% of the base bonus ($105,000) per 100 hours over 1950.
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Re: EOY Bonuses
This is my understanding as well (Atlanta associate). Then you can get another "discretionary" leadership bonus above and beyond that.Anonymous User wrote: ↑Wed Nov 30, 2022 6:01 pmMy understanding is that it is 5% of the base bonus per 100 hours. In other words, since you said you are a 6th year (class of 2016), you would get 5% of the base bonus ($105,000) per 100 hours over 1950.
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Re: EOY Bonuses
Got it. Thank you!
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Re: EOY Bonuses
This is correct.Anonymous User wrote: ↑Wed Nov 30, 2022 5:45 pmWait what? Spalding pays market base every year that AT LEAST matches DPW/Cravath at 1950 hours. And we literally have an email from last year explicitly stating that you get ABOVE MARKET kickers every 100 hours above. I'm at like 2550 for the year so wanted to know what that % was.
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Re: EOY Bonuses
Anyone else find it odd that it's been ~48 hours since Cravath announced and there have been almost no other match announcements? (https://abovethelaw.com/2022/12/biglaw- ... cker-2022/) Usually in the day or two after you get a slew of matches. Maybe it's been institutionalized to wait until DPW and Milbank respond now? Or were firms genuinely expecting a lower scale this year and are now scrambling to revise?
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Re: EOY Bonuses
they’re waiting for DPW.Anonymous User wrote: ↑Thu Dec 01, 2022 1:57 pmAnyone else find it odd that it's been ~48 hours since Cravath announced and there have been almost no other match announcements? (https://abovethelaw.com/2022/12/biglaw- ... cker-2022/) Usually in the day or two after you get a slew of matches. Maybe it's been institutionalized to wait until DPW and Milbank respond now? Or were firms genuinely expecting a lower scale this year and are now scrambling to revise?
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Re: EOY Bonuses
DPW is going to come over the top. You heard it here first.
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Re: EOY Bonuses
Source?!?!?!?!!!!Anonymizer wrote: ↑Thu Dec 01, 2022 2:38 pmDPW is going to come over the top. You heard it here first.
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Re: EOY Bonuses
Anonymizer is the source and has never been wrong before.Anonymous User wrote: ↑Thu Dec 01, 2022 2:44 pmSource?!?!?!?!!!!Anonymizer wrote: ↑Thu Dec 01, 2022 2:38 pmDPW is going to come over the top. You heard it here first.
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Re: EOY Bonuses
Milbank is mostly focused on salary increases, right? I doubt they will boost the bonus scale. Eyes are on DPW.
Cravath falling to v83 confirmed.
Cravath falling to v83 confirmed.
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Re: EOY Bonuses
Fried Frank matched the Baker scale with 15% premium at 2200 hours and 30% premium at 2450 hours.
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Re: EOY Bonuses
Cleary just matched Cravath/Baker scale.
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Re: EOY Bonuses
Sad for high billers at CravaTTTh.
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Re: EOY Bonuses
There's no "Cravath" about it. It's the Baker scale. Cravath didn't do anything this year other than match Baker.
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Re: EOY Bonuses
Back in the day they used to get compensated in prefftige. But now cravath has sucked for so long that they don't even get that.
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Re: EOY Bonuses
Confirmed. All eyes to Milly-B, now.
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Re: EOY Bonuses
Turns out Bakers was playing 5D chess and is the official comp leader.
All hail the 2022 Bakers scale.
All hail the 2022 Bakers scale.
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Re: EOY Bonuses
Time to pack our bags and go home. Next year is another year. Milly-B aint raising this year.
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Re: EOY Bonuses
First time for everything. SadAnonymous User wrote: ↑Thu Dec 01, 2022 2:58 pmAnonymizer is the source and has never been wrong before.Anonymous User wrote: ↑Thu Dec 01, 2022 2:44 pmSource?!?!?!?!!!!Anonymizer wrote: ↑Thu Dec 01, 2022 2:38 pmDPW is going to come over the top. You heard it here first.
Seriously? What are you waiting for?
Now there's a charge.
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