Deferred Compensation Forum
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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.
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Anonymous User
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Deferred Compensation
My biglaw firm does deferred comp where we only are paid market if we hit a specific number of hours. Don't want to out myself but it is between 2000-2200. So we make around 30k less throughout the year than market pay and if, and only if, we hit the set minimum hours, we get the "rest of our compensation" at the end of the year. Does any other firm do this? I have never heard of this except at my firm and it drives me insane and feels like a way to prevent associates from leaving before end of year. I compared my salary to another big law firm and for hitting the same hours at a firm on the cravath scale, I would be making 40k+ more per year (with base and bonus). Just trying to figure out when to jump ship.
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Anonymous User
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- Joined: Tue Aug 11, 2009 9:32 am
Re: Deferred Compensation
That sounds terrible. My bonus cap is only 1950.
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Anonymous User
- Posts: 428403
- Joined: Tue Aug 11, 2009 9:32 am
Re: Deferred Compensation
My old firm did this, but only for patent agents (not associates), and the deferred comp was paid out with a one-month delay (so delayed comp for January would be paid at the end of February). Deferring comp to the end of the year sounds godawful.
