Under-Hour Bonuses? Forum

[Anonymous User]

Is anyone aware of firms that are paying bonuses to associates who did not meet the billable hours requirement? My v5 firm indicated they would follow suit and pay bonuses to associates who did not bill 1900 hours if other peer firms are doing so, noting that this would pick up many capital markets and similarly-situated associates who have been slammed for years but faced a slow-down this year. Appreciate any intel the forum may offer.

[Anonymous User]

K&E has no minimum requirement.

[Anonymous User]

K&E has no minimum requirement.

Perhaps but I doubt there are very many people (if any) at K&E getting bonuses that are well below 2,000.

[Anonymous User]

K&E has no minimum requirement.

Perhaps but I doubt there are very many people (if any) at K&E getting bonuses that are well below 2,000.

I don’t think that’s true. Most first years were well under hours because Kirkland’s bonus year is September through August. They had a merit bonus for over 1800, so that seems like a lot of people weren’t at 2000.

[Anonymous User]

I am at a V50 firm.

I was "under" hours because I was a lateral halfway through the year and my first 2.5 months were super slow as I ramped up. I got 75% of my full class year (non pro-rated) bonus. I was told this was unique and most similarly placed associates did not get anything.

[Anonymous User]

My big law firm has a minimum # of hours but says that it is not a hard threshold and they will take into account other factors like contributing time to pitches, diversity education, interviewing etc. I’m below hours by about 90 hrs and hoping I can still get a bonus but have effectively no insight into the process (senior associate so a lot of $ on the line).

[Anonymous User]

My big law firm has a minimum # of hours but says that it is not a hard threshold and they will take into account other factors like contributing time to pitches, diversity education, interviewing etc. I’m below hours by about 90 hrs and hoping I can still get a bonus but have effectively no insight into the process (senior associate so a lot of $ on the line).

Thanks for the insight (and diverting the thread back away from K&E discussion)!

[gaddockteeg]

Some firms will give you a prorated bonus which I think is way more fair than all or nothing.

[Anonymous User]

I was near 1700 hours at my v20 and got 50%

[Sackboy]

I was near 1700 hours at my v20 and got 50%

Seems like a good deal.

[Anonymous User]

At Sidley it varies by office and possibly by person/group. Officially, the firm may give partial bonuses for associates who are under the hours threshold but it is discretionary. In 2020 and 2021, many offices did this, possibly all. This year, offices that did it in 2020 and 2021 (DC, NY), did not do so in 2022. The Chicago office is doing it this year. The amount seems to be case-by-case.

[Anonymous User]

I’m a lateral (class of 2014) and have been at the firm for 10 months with ~1,800 pro rated hours (actual hours ~1,500)—I’m hoping for a full bonus but if that is not happening would obviously love some type of prorated bonus (very difficult to get staffing and difficult ramp up). NYC V30.

[Anonymous User]

Is anyone aware of firms that are paying bonuses to associates who did not meet the billable hours requirement? My v5 firm indicated they would follow suit and pay bonuses to associates who did not bill 1900 hours if other peer firms are doing so, noting that this would pick up many capital markets and similarly-situated associates who have been slammed for years but faced a slow-down this year. Appreciate any intel the forum may offer.

At my firm it depends on whether there was a good faith effort to bill more. I didn't make my billables this year, because of the economy (most people in my group didn't). I probably was like 400 hours off. Got like 80% of my bonus regardless.

I think this is something incoming associates should ask about, if it matters btw. I found out during my first year that it was very likely the firm would pay out bonuses anyway, if it was due to a faltering economy (one of the seniors told me they still got it despite ta really slow year). This year for me, that ended up being true.

[Anonymous User]

K&E has no minimum requirement.

Perhaps but I doubt there are very many people (if any) at K&E getting bonuses that are well below 2,000.

Incorrect. There is no minimum hours requirement to get a full bonus at K&E. All you need is a "with class" rating to get a full bonus. I've gotten a full bonus (with above market kicker) many years billing around 1800.

[Anonymous User]

K&E has no minimum requirement.

Perhaps but I doubt there are very many people (if any) at K&E getting bonuses that are well below 2,000.

Incorrect. There is no minimum hours requirement to get a full bonus at K&E. All you need is a "with class" rating to get a full bonus. I've gotten a full bonus (with above market kicker) many years billing around 1800.

Weil is the same. No hours requirement for bonuses. But no above market bonuses like K&E so it is just lockstep by class year.

I'm surprised there is a V5 with an hours cutoff for bonus.

[Anonymous User]

This has to be Latham right? I think LW is quite strict if you don't hit your hourly target.

[Anonymous User]

Switched firms to a boutique early this year and annualized 1250 hours for the better part of 9 months. Made 80% of prorated bonus. No complaints.