What firms guarantee bonuses? Forum

[grandedestroyer]

I've tried to search the site, and I've seen people comment that 15-20 firms guarantee bonuses, so which biglaw firms do so regardless of hours? (Or have a low target e.g. 1800 or one that can be stacked with 200+ pro bono hours)

[Anonymous User]

Kirkland pays a minimum of market bonus irrespective of hours.

[soft blue]

I've tried to search the site, and I've seen people comment that 15-20 firms guarantee bonuses, so which biglaw firms do so regardless of hours? (Or have a low target e.g. 1800 or one that can be stacked with 200+ pro bono hours)

This stuff is kind of goofy. The firms that guarantee bonuses tend to be the busiest ones (and probably wouldn't tolerate someone coasting in with 1600 billables like you seem to suggest); the firms with hours cuts tend to be places where it's not certain that you'll have enough work. It's kind of like unlimited PTO: it doesn't, actually, mean you take more time off.

[Anonymous User]

So that we're being clear: no firm guarantees bonuses; some will guarantee market bonus regardless of hours. But market bonus could be zero in a recession.

[nealric]

So that we're being clear: no firm guarantees bonuses; some will guarantee market bonus regardless of hours. But market bonus could be zero in a recession.

Perhaps theoretically, but market bonuses being zero have never happened as long as "market" has been a thing. Even 2008/9 had market bonuses that were not zero. Things would have to be grim indeed for that to happen.

Anyhow, I don't see the point of trying to determine "guaranteed" bonus. Your bonus is never guaranteed. You could be fired the day before bonus payout. As a rule of thumb, the higher up the profitability pecking order a firm is, the fewer pre-conditions for bonuses. Among firms paying market bonus, the top firms will give basically everyone a bonus, a step down most people will get a bonus except people with unusually low hours, and a step below that only a fraction of the class will actually make bonus (usually due to an hours cutoff that is above the median hours billed). Some below-market firms will only true up their superstars to full market.

[Anonymous User]

I've tried to search the site, and I've seen people comment that 15-20 firms guarantee bonuses, so which biglaw firms do so regardless of hours? (Or have a low target e.g. 1800 or one that can be stacked with 200+ pro bono hours)

This stuff is kind of goofy. The firms that guarantee bonuses tend to be the busiest ones (and probably wouldn't tolerate someone coasting in with 1600 billables like you seem to suggest); the firms with hours cuts tend to be places where it's not certain that you'll have enough work. It's kind of like unlimited PTO: it doesn't, actually, mean you take more time off.

What do these places do if a woman worked like 8 months and billed maybe 1500 that year, but then misses the last four for the birth of her child? Full bonus still? Could see it mattering for situations like that.

[Anonymous User]

I've tried to search the site, and I've seen people comment that 15-20 firms guarantee bonuses, so which biglaw firms do so regardless of hours? (Or have a low target e.g. 1800 or one that can be stacked with 200+ pro bono hours)

This stuff is kind of goofy. The firms that guarantee bonuses tend to be the busiest ones (and probably wouldn't tolerate someone coasting in with 1600 billables like you seem to suggest); the firms with hours cuts tend to be places where it's not certain that you'll have enough work. It's kind of like unlimited PTO: it doesn't, actually, mean you take more time off.

Not all firms that guarantee bonuses without any target are that busy. I'm in an overseas market, and I know someone at a V20's overseas office (with no target for bonus) that just billed around 1300 or so last year but still got a full market bonus. I also know someone at another V20 that billed clearly above their firm's target, but only ended up getting a partial bonus. The firms with targets can still mess up with your bonus regardless of whether you meet their targets or not. It's much better to be at a top firm with no billable requirement. What's important is the firm's PPP, not whether or not the firm has a target.

[Anonymous User]

Paul, Weiss pays bonuses to all associates who are in good standing.