Bonus Speculation Forum
Forum rules
Anonymous Posting
Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
Anonymous Posting
Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
-
- Posts: 428484
- Joined: Tue Aug 11, 2009 9:32 am
Re: Bonus Speculation
STB is out and it's market
-
- Posts: 428484
- Joined: Tue Aug 11, 2009 9:32 am
Re: Bonus Speculation
DPW management committee sprinting to “Send” buttonAnonymous User wrote:STB is out and it's market
- SmokeytheBear
- Posts: 926
- Joined: Wed Jun 15, 2016 1:40 pm
Re: Bonus Speculation
I hate feeling disappointed that I'm barely making a third million dollars this year. Like the extra $10,000 that I thought I was going to get was going to do something for me.Anonymous User wrote:DPW management committee sprinting to “Send” buttonAnonymous User wrote:STB is out and it's market
Who the hell says "I've made a third million dollars"?
My black grandfather who had to work on a railroad just to afford college would backhand me right now if he were alive.
-
- Posts: 428484
- Joined: Tue Aug 11, 2009 9:32 am
Re: Bonus Speculation
Nope.anonnymouse wrote:Today is the day Skadden becomes the new market compensation leader. The New New Deal promises a cheese plate on every table and an 8-ball in every desk drawer!
-
- Posts: 168
- Joined: Sat May 30, 2015 8:38 pm
Re: Bonus Speculation
Well, this has been disappointing.
Want to continue reading?
Register now to search topics and post comments!
Absolutely FREE!
Already a member? Login
- rpupkin
- Posts: 5653
- Joined: Mon Dec 09, 2013 10:32 pm
Re: Bonus Speculation
Disappointing and perplexing. As was pointed out on the first page of this thread, "stagnant bonuses would be very bad for associate morale." What happened? Do you think this year's flat bonus structure portends a shift to prioritizing profits over associate morale?h2go wrote:Well, this has been disappointing.
-
- Posts: 10168
- Joined: Sun Sep 20, 2015 3:48 pm
Re: Bonus Speculation
rpupkin wrote:Disappointing and perplexing. As was pointed out on the first page of this thread, "stagnant bonuses would be very bad for associate morale." What happened? Do you think this year's flat bonus structure portends a shift to prioritizing profits over associate morale?h2go wrote:Well, this has been disappointing.
Last edited by Mr. Peanutbutter on Sat Jan 27, 2018 4:31 am, edited 1 time in total.
- TLSModBot
- Posts: 14835
- Joined: Mon Oct 24, 2011 11:54 am
Re: Bonus Speculation
Well I for one will be implementing a work slowdown to show them a thing or two. They won't get a minute over 2400 hours out of me this year
- JenDarby
- Posts: 17362
- Joined: Wed Oct 20, 2010 3:02 am
Re: Bonus Speculation
You're going to want to stay on pace ahead of your peers so when they considering raising bonuses in 2020, you're the FIRST associate that comes to mind!Capitol_Idea wrote:Well I for one will be implementing a work slowdown to show them a thing or two. They won't get a minute over 2400 hours out of me this year
Last edited by JenDarby on Mon Jan 29, 2018 10:36 pm, edited 1 time in total.
-
- Posts: 204
- Joined: Tue Mar 08, 2011 3:52 pm
Re: Bonus Speculation
Could this be the watershed moment that prompts associates to unionize? All signs point to YES.rpupkin wrote:Disappointing and perplexing. As was pointed out on the first page of this thread, "stagnant bonuses would be very bad for associate morale." What happened? Do you think this year's flat bonus structure portends a shift to prioritizing profits over associate morale?h2go wrote:Well, this has been disappointing.
-
- Posts: 1381
- Joined: Sat Oct 09, 2010 4:41 pm
Re: Bonus Speculation
179rpupkin wrote:Disappointing and perplexing. As was pointed out on the first page of this thread, "stagnant bonuses would be very bad for associate morale." What happened? Do you think this year's flat bonus structure portends a shift to prioritizing profits over associate morale?h2go wrote:Well, this has been disappointing.
- zhenders
- Posts: 943
- Joined: Tue Dec 17, 2013 10:21 pm
Re: Bonus Speculation
I suppose I'm not very surprised, given raises last summer. I mean, granting that it's definitely shitty, I guess I would have expected most associates to assume that the managing partner mindset last and this year (and possibly even next year) would be, "we just gave raises after nearly a decade--so we're probably good to keep bonuses flat for at least a few years." What am I missing? Was this legitimately a surprise this year (again, granting that surprise or not it sucks)?
-
- Posts: 428484
- Joined: Tue Aug 11, 2009 9:32 am
Re: Bonus Speculation
Nah I think if you read the first few pages of the thread you get a general sense of the sentiment.zhenders wrote:I suppose I'm not very surprised, given raises last summer. I mean, granting that it's definitely shitty, I guess I would have expected most associates to assume that the managing partner mindset last and this year (and possibly even next year) would be, "we just gave raises after nearly a decade--so we're probably good to keep bonuses flat for at least a few years." What am I missing? Was this legitimately a surprise this year (again, granting that surprise or not it sucks)?
2014 wrote:My assessment of the odds is:
10% - Meaningful (generally >$10k) increase
15% - Nominal (generally $5-10k) increase
74.5% - Stagnant
0.5% - Decrease
Partners have said my firm is having a "very good year" but I don't work at Cravath and I suspect they set market again this year.
Monochromatic Oeuvre wrote:I'm declaring lines open at -300 for stagnation, +200 for a weighted net increase, and +5000 for a weighted net decrease.SmokeytheBear wrote:Is gamgling prohibited on TLS? If not, I'd invite an over/under prop bet on bonuses.jd20132013 wrote:jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves
Register now!
Resources to assist law school applicants, students & graduates.
It's still FREE!
Already a member? Login
- LaLiLuLeLo
- Posts: 949
- Joined: Wed Jun 08, 2016 11:54 am
Re: Bonus Speculation
The problem is most firms are followers and bonuses aren't really based on firm performance. Even if a firm has an amazing year, if they aren't one of a handful of leaders (firms that pay non-market bonuses notwithstanding) the bonuses won't reflect their profitability. It's kind of silly if you think about it - a bonus is meant to reflect performance, after all.
- SmokeytheBear
- Posts: 926
- Joined: Wed Jun 15, 2016 1:40 pm
Re: Bonus Speculation
Yes exactly. Big law management and big law business model defy any kind of rational business operations or logic. Reality is going to catch up soon. Get while the gettin's good.LaLiLuLeLo wrote:The problem is most firms are followers and bonuses aren't really based on firm performance. Even if a firm has an amazing year, if they aren't one of a handful of leaders (firms that pay non-market bonuses notwithstanding) the bonuses won't reflect their profitability. It's kind of silly if you think about it - a bonus is meant to reflect performance, after all.
-
- Posts: 16
- Joined: Sat Aug 12, 2017 4:35 pm
Re: Bonus Speculation
Has Kirkland announced yet?
-
- Posts: 428484
- Joined: Tue Aug 11, 2009 9:32 am
Re: Bonus Speculation
They don't "announce." They give individual bonuses to people based on hours and merit (in theory) and tell associates individually sometime in December. ATL has to cobble together individual anecdotes to give a sense of where they come in.liam31 wrote:Has Kirkland announced yet?
One can only hope that another market SHATTER will shame the more preftigous institutions after some blue collar Midwest firm bests their "market setting" bonuses again.
Get unlimited access to all forums and topics
Register now!
I'm pretty sure I told you it's FREE...
Already a member? Login
-
- Posts: 81
- Joined: Fri Nov 10, 2017 2:02 am
Re: Bonus Speculation
The issue for me is that my firm and a handful of other top firms held presentations or sent out marketing-type materials showing how this year was the firm's best year ever (by 10%+). Pretty shitty to rub that in associates' faces and then give the same bonus for the third year in a row. Almost like they're not reading our posts on associate morale.zhenders wrote:I suppose I'm not very surprised, given raises last summer. I mean, granting that it's definitely shitty, I guess I would have expected most associates to assume that the managing partner mindset last and this year (and possibly even next year) would be, "we just gave raises after nearly a decade--so we're probably good to keep bonuses flat for at least a few years." What am I missing? Was this legitimately a surprise this year (again, granting that surprise or not it sucks)?
On the Kirkland question: no, typically they hold a presentation in mid-December and we get an individual email shortly thereafter. But they're usually just based on a multiple of the Ballard Spahr scale, so the market announcement tells us 90% of what we need to know.
-
- Posts: 428484
- Joined: Tue Aug 11, 2009 9:32 am
Re: Bonus Speculation
when I stopped thinking of a bonus as a bonus and as part of your compensation they hold back to make sure you come sufficiently close to destroying your social life and health then the way they're distributed make sense
- 2014
- Posts: 6028
- Joined: Sat Jun 05, 2010 3:53 pm
Re: Bonus Speculation
For better or worse it's abundantly clear that law firm bonuses have nothing to do individual firm or even really market performance. They exist purely for retention at this point.MillllerTime wrote:The issue for me is that my firm and a handful of other top firms held presentations or sent out marketing-type materials showing how this year was the firm's best year ever (by 10%+). Pretty shitty to rub that in associates' faces and then give the same bonus for the third year in a row. Almost like they're not reading our posts on associate morale.zhenders wrote:I suppose I'm not very surprised, given raises last summer. I mean, granting that it's definitely shitty, I guess I would have expected most associates to assume that the managing partner mindset last and this year (and possibly even next year) would be, "we just gave raises after nearly a decade--so we're probably good to keep bonuses flat for at least a few years." What am I missing? Was this legitimately a surprise this year (again, granting that surprise or not it sucks)?
On the Kirkland question: no, typically they hold a presentation in mid-December and we get an individual email shortly thereafter. But they're usually just based on a multiple of the Ballard Spahr scale, so the market announcement tells us 90% of what we need to know.
-
- Posts: 428484
- Joined: Tue Aug 11, 2009 9:32 am
Re: Bonus Speculation
Why is this not bigger news? Cadwalader coming in at 120% above market bonus essentially. 2200 hours is a fairly reasonable bar. It seems like with enough hype this could still have some potential to push DPW or SullCrom up to that level as the market bonus without the billable requirement tho. 18 out of 180 is such a nice round 10%. It just makes sense. So thanks Cadwalader for at least putting it on the table. I know it's not much, but we should push for this!
https://abovethelaw.com/2017/11/finally ... ath-scale/
Abovethelaw: if you are reading this, I say put the Cadwalader story as the cover story for bonuses, replacing the Cravath one. This should be treated as a legitimate beating with no quotes. Although technically for high performers, 2200 hours is pretty common, so I think it's fair to give it the limelight. That's the pressure we need now and give Cadwalader more credit where credit is due. Do it for us associates!
https://abovethelaw.com/2017/11/finally ... ath-scale/
Abovethelaw: if you are reading this, I say put the Cadwalader story as the cover story for bonuses, replacing the Cravath one. This should be treated as a legitimate beating with no quotes. Although technically for high performers, 2200 hours is pretty common, so I think it's fair to give it the limelight. That's the pressure we need now and give Cadwalader more credit where credit is due. Do it for us associates!
Last edited by Anonymous User on Wed Nov 29, 2017 1:12 pm, edited 1 time in total.
Communicate now with those who not only know what a legal education is, but can offer you worthy advice and commentary as you complete the three most educational, yet challenging years of your law related post graduate life.
Register now, it's still FREE!
Already a member? Login
- SmokeytheBear
- Posts: 926
- Joined: Wed Jun 15, 2016 1:40 pm
Re: Bonus Speculation
The problem is that firms like S&C, DPW, Milbank, etc don't have hours requirements, so they're not going to pay out extra for extra hours.Anonymous User wrote:Why is this not bigger news? Cadwalader coming in at 120% above market bonus essentially. 2200 hours is a fairly reasonable bar. It seems like with enough hype this could still have some potential to push DPW or SullCrom up to that level as the market bonus without the billabe requirement tho. 18 of 180 is such a nice round 10%. It just makes sense. So thanks cadwalader for at least putting it on the table. I know it's not much, but we should push for this!
https://abovethelaw.com/2017/11/finally ... ath-scale/
But I may be wrong. Other firms might not have hours requirements and pay out extra.
Who knows at this point. There is no logic to how this works, as noted several times above.
-
- Posts: 58
- Joined: Mon Jul 28, 2014 8:35 am
Re: Bonus Speculation
I agree on this. Who at Cravath isn't billing 2,200?Anonymous User wrote:Why is this not bigger news? Cadwalader coming in at 120% above market bonus essentially. 2200 hours is a fairly reasonable bar. It seems like with enough hype this could still have some potential to push DPW or SullCrom up to that level as the market bonus without the billable requirement tho. 18 out of 180 is such a nice round 10%. It just makes sense. So thanks Cadwalader for at least putting it on the table. I know it's not much, but we should push for this!
https://abovethelaw.com/2017/11/finally ... ath-scale/
Abovethelaw: if you are reading this, I say put the Cadwalader story as the cover story for bonuses, replacing the Cravath one. This should be treated as a legitimate beating with no quotes. Although technically for high performers, 2200 hours is pretty common, so I think it's fair to give it the limelight. That's the pressure we need now and give Cadwalader more credit where credit is due. Do it for us associates!
- rpupkin
- Posts: 5653
- Joined: Mon Dec 09, 2013 10:32 pm
Re: Bonus Speculation
Are you tempted to leave your current market-paying firm for Cadwalader? Me neither. That's one reason this is not big news.Anonymous User wrote:Why is this not bigger news? Cadwalader coming in at 120% above market bonus essentially. 2200 hours is a fairly reasonable bar. It seems like with enough hype this could still have some potential to push DPW or SullCrom up to that level as the market bonus without the billable requirement tho.
- SmokeytheBear
- Posts: 926
- Joined: Wed Jun 15, 2016 1:40 pm
Re: Bonus Speculation
Seconded.rpupkin wrote:Are you tempted to leave your current market-paying firm for Cadwalader? Me neither. That's one reason this is not big news.Anonymous User wrote:Why is this not bigger news? Cadwalader coming in at 120% above market bonus essentially. 2200 hours is a fairly reasonable bar. It seems like with enough hype this could still have some potential to push DPW or SullCrom up to that level as the market bonus without the billable requirement tho.
Seriously? What are you waiting for?
Now there's a charge.
Just kidding ... it's still FREE!
Already a member? Login