Path to 1M? Forum

[Anonymous User]

I am a 9th year and am in my second year making $1M+ (bonus greater than $500K). Not a partner yet but up for promotion this year.

As a former 9th year, this isn't true right? Because if so...fuck.

[Anonymous User]

I am a 9th year and am in my second year making $1M+ (bonus greater than $500K). Not a partner yet but up for promotion this year.

As a former 9th year, this isn't true right? Because if so...fuck.

This cannot be true unless this person is bringing in substantial of their own business or otherwise works at some insane boutique or maybe Watchell. 8th years don't make a $500k bonus just billing hours.

[Anonymous User]

I am a 9th year and am in my second year making $1M+ (bonus greater than $500K). Not a partner yet but up for promotion this year.

As a former 9th year, this isn't true right? Because if so...fuck.

This cannot be true unless this person is bringing in substantial of their own business or otherwise works at some insane boutique or maybe Watchell. 8th years don't make a $500k bonus just billing hours.

That or he/she was able to leverage a competing offer from another firm. I thought about leaving my current firm during the lateral madness in 2021 and my current firm (V100) raised my comp from $500k to $800k ($400 bonus) for 2021 and 2022 to keep me. I'm the same age as the $900k anon, so I could see a higher firm doing the same plus a little more. I don't have a book, but work in a valuable niche with a shortage of attorneys.

[Res Ipsa Loquitter]

I am a 9th year and am in my second year making $1M+ (bonus greater than $500K). Not a partner yet but up for promotion this year.

As a former 9th year, this isn't true right? Because if so...fuck.

This cannot be true unless this person is bringing in substantial of their own business or otherwise works at some insane boutique or maybe Watchell. 8th years don't make a $500k bonus just billing hours.

Nah, sometimes they do. This happens when they function like a very good service partner and need to be paid like one to be retained. The firm could partner them early but that would rock the boat if they’re not “up” yet per their class year.

[Anonymous User]

I am a 9th year and am in my second year making $1M+ (bonus greater than $500K). Not a partner yet but up for promotion this year.

As a former 9th year, this isn't true right? Because if so...fuck.

This cannot be true unless this person is bringing in substantial of their own business or otherwise works at some insane boutique or maybe Watchell. 8th years don't make a $500k bonus just billing hours.

Nah, sometimes they do. This happens when they function like a very good service partner and need to be paid like one to be retained. The firm could partner them early but that would rock the boat if they’re not “up” yet per their class year.

This person would at the least have a Counsel title if so, and there's no firm where 9th years aren't up for partner. Genuinely $1M as an associate is only possible (i) at a firm with major origination credit for someone who is already a huge rainmaker (which isn't going to be any biglaw firm but possible for someone especially successful at a smaller shop) -- although again by 9th year this person would have a partner title and probably equity or (ii) at Wachtell or a boutique like Susman, except at all of those someone at the equivalent of 9th year would either be a partner already or on their way to being pushed out/desperately trying to claw their way into partnership by the skin of their teeth (and therefore not paid way above market).

[Anonymous User]

1. Become obese.

2. If male, lose your hair.

3. Become a cranky a-hole.

4. A divorce for the first million. Approximately 1 divorce per additional million you wish to add.

5. Drop about 20 years from your life expectancy.

[Res Ipsa Loquitter]

I am a 9th year and am in my second year making $1M+ (bonus greater than $500K). Not a partner yet but up for promotion this year.

As a former 9th year, this isn't true right? Because if so...fuck.

This cannot be true unless this person is bringing in substantial of their own business or otherwise works at some insane boutique or maybe Watchell. 8th years don't make a $500k bonus just billing hours.

Nah, sometimes they do. This happens when they function like a very good service partner and need to be paid like one to be retained. The firm could partner them early but that would rock the boat if they’re not “up” yet per their class year.

This person would at the least have a Counsel title if so, and there's no firm where 9th years aren't up for partner. Genuinely $1M as an associate is only possible (i) at a firm with major origination credit for someone who is already a huge rainmaker (which isn't going to be any biglaw firm but possible for someone especially successful at a smaller shop) -- although again by 9th year this person would have a partner title and probably equity or (ii) at Wachtell or a boutique like Susman, except at all of those someone at the equivalent of 9th year would either be a partner already or on their way to being pushed out/desperately trying to claw their way into partnership by the skin of their teeth (and therefore not paid way above market).

Everything you wrote adds up to nothing. Biglaw firms can and do pay associates 7 figures. It’s not common, but it happens. Sometimes it’s just easier to pay the person partner money and then wait to make them a partner, since some firms have long partner tracks and early partnership ruffles feathers. I personally know of two 8th year associates who cracked 7 figures.

[Anonymous User]

I am a 9th year and am in my second year making $1M+ (bonus greater than $500K). Not a partner yet but up for promotion this year.

As a former 9th year, this isn't true right? Because if so...fuck.

This cannot be true unless this person is bringing in substantial of their own business or otherwise works at some insane boutique or maybe Watchell. 8th years don't make a $500k bonus just billing hours.

Nah, sometimes they do. This happens when they function like a very good service partner and need to be paid like one to be retained. The firm could partner them early but that would rock the boat if they’re not “up” yet per their class year.

This person would at the least have a Counsel title if so, and there's no firm where 9th years aren't up for partner. Genuinely $1M as an associate is only possible (i) at a firm with major origination credit for someone who is already a huge rainmaker (which isn't going to be any biglaw firm but possible for someone especially successful at a smaller shop) -- although again by 9th year this person would have a partner title and probably equity or (ii) at Wachtell or a boutique like Susman, except at all of those someone at the equivalent of 9th year would either be a partner already or on their way to being pushed out/desperately trying to claw their way into partnership by the skin of their teeth (and therefore not paid way above market).

Everything you wrote adds up to nothing. Biglaw firms can and do pay associates 7 figures. It’s not common, but it happens. Sometimes it’s just easier to pay the person partner money and then wait to make them a partner, since some firms have long partner tracks and early partnership ruffles feathers. I personally know of two 8th year associates who cracked 7 figures.

Practice area? Im guessing they have to be rockstar M&A associates to get 7 figures as 8th years

[Anonymous User]

Some random facts that are true of my run-of-the-mill V50:

V10 laterals do NOT automatically come in with equity. I know multiple people who made partner at KE and came over as income partner. If and when they made equity it was by building a book.

Officially we have an 8 year partnership path but nobody makes partner until 9th or 10th, if then. Can definitely see the firm paying an 8/9th year a bit more quietly and avoid having to promote everyone else.

If you do make equity, you make 7 figures.

[Anonymous User]

I am a 9th year and am in my second year making $1M+ (bonus greater than $500K). Not a partner yet but up for promotion this year.

As a former 9th year, this isn't true right? Because if so...fuck.

This cannot be true unless this person is bringing in substantial of their own business or otherwise works at some insane boutique or maybe Watchell. 8th years don't make a $500k bonus just billing hours.

Nah, sometimes they do. This happens when they function like a very good service partner and need to be paid like one to be retained. The firm could partner them early but that would rock the boat if they’re not “up” yet per their class year.

This person would at the least have a Counsel title if so, and there's no firm where 9th years aren't up for partner. Genuinely $1M as an associate is only possible (i) at a firm with major origination credit for someone who is already a huge rainmaker (which isn't going to be any biglaw firm but possible for someone especially successful at a smaller shop) -- although again by 9th year this person would have a partner title and probably equity or (ii) at Wachtell or a boutique like Susman, except at all of those someone at the equivalent of 9th year would either be a partner already or on their way to being pushed out/desperately trying to claw their way into partnership by the skin of their teeth (and therefore not paid way above market).

Everything you wrote adds up to nothing. Biglaw firms can and do pay associates 7 figures. It’s not common, but it happens. Sometimes it’s just easier to pay the person partner money and then wait to make them a partner, since some firms have long partner tracks and early partnership ruffles feathers. I personally know of two 8th year associates who cracked 7 figures.

Practice area? Im guessing they have to be rockstar M&A associates to get 7 figures as 8th years

No practice area because my dude is just making things up to make people feel insecure. The associate making seven figures does not exist.

Paying extra to high-performing senior associates is sometimes a thing to get them to stay (or was in 2021; less so now), but we're talking maybe an extra $100k at a push, which doesn't get you anywhere close to $1M. And in 2021 there were big signing bonuses available, but we're still talking $200k at most (except K&E, which did have signing bonuses as high as $350k-400k, but only for people coming in as NSPs, not associates), again not enough to reach $1M and obviously a one-time payment.

[Anonymous User]

.

[Anonymous User]

.

[thisismytlsuername]

I'm the other anon who made $1M+ in each of the past seven years. I would not believe it either if you had told me this was possible before I joined my current firm so I understand your doubt. I am in the doghouse with my wife though, let me tell you. Super high hours, I sleep under my desk. Flawless reviews, except people say I smell bad, maybe it's from sleeping under my desk. Certain to make another mil this year unless I decide I want to buy a boat -- boats are expensive. Up for partner this year, but I'll probably say "no thank you, I already make a million dollars a year."

[Anonymous User]

I'm another anon who made $1m+ in previous years. I would not have believed it either if you had told me this was possible before I rehomed my dog, daughter, wife, and grandfather, so I understand your doubt.

[thisismytlsuername]

Oh dang, the liar I was making fun of deleted their post.

[Anonymous User]

Just keep on voting for dems (= inflation) and survive in BL until u are an 8th year.