Associate Bonus Watch: A Post-Holiday Round-Up
Since our last compilation of bonus news, which was issued before the holiday, we've received some new announcements. Some of them have been mentioned already in the comments, but have not yet appeared on the main page.
But we have verified them, and they are legit. So, for the record, here they are:
1. Dechert (New York): Memo after the jump. The email to New York associates was forwarded to Philadelphia associates, "[i]n the spirit of working on improving communications across the firm." (Read: "So you don't find out about it from one of those darn blogs first.")
2. Mayer Brown (Chicago, Palo Alto, Washington, DC): Memo after the jump. In a nutshell, the bonuses "will be consistent with the amounts paid for 2006 work. In addition, a further discretionary bonus may be awarded to associates who have made contributions to the Firm significantly beyond expectations."
3. Morrison & Foerster (New York): Memo after the jump. Market-level year-end and special bonuses "will be paid to all New York associates who progress with their salary class based on their annual evaluation and who are in good standing and employed with the Firm when the bonuses are paid."
DECHERT -- 2007 ASSOCIATE BONUS MEMORANDUM
From: Ciabarra, Laura
Sent: Monday, December 31, 2007 12:07 PM
To: PHL Associates
Cc: Ciabarra, Laura; Barnett, Ben; Peckman, Molly; Ebeling, Douglas; Godshall, Craig
Subject: FW: NY Special Bonus Announcement
Dear all,
Below is an e-mail that went out from Bart this morning to the New York associates, announcing that we are paying special bonuses in New York. In the spirit of working on improving communications across the firm, I am sending this to all of you directly. All other bonuses will be paid in January as in the past, after the PRC can review year-end hours and assess what is happening in the applicable markets for other offices. If you have any questions, please feel free to call me, Ben, Molly or Doug.
Regards,
Laura
Laura G. Ciabarra
Partner
Dechert LLP
______________________________________________
From: Winokur, Barton
Sent: Monday, December 31, 2007 11:18 AM
To: NYC Associates
Cc: NYC Partners
Subject: Special Bonus
Memorandum
DATE December 31, 2007
TO All New York Associates
CC All New York Partners
FROM Barton J. Winokur
We have had another terrific year in 2007 and we want to thank you for your outstanding contributions. We value your hard work, your excellent skills and your dedication to client service.
In recognition of those efforts and consistent with our commitment to provide a competitive compensation package to our associates, I am pleased to announce that we will be paying today the following special bonuses to New York associates in good standing who performed in accordance with the firm’s expectations, including productivity and quality:
Class of 2006 – $10,000
Class of 2005 -- $15,000
Class of 2004 -- $20,000
Class of 2003 -- $30,000
Class of 2002 -- $40,000
Class of 2001 and more senior -- $50,000
We are also paying lesser amounts (generally 50% or 75%) to those who are reasonably close to our expectations. In making determinations on who has met (or come close to) expectations, we have looked at all time entered through the latest practicable date. Once the year is closed, we will look to see if any other adjustments are appropriate. Associates who joined the Firm subsequent to January 1, 2007 or worked part-time were evaluated on a pro-rated basis and will receive pro-rated bonuses.
In addition to these special bonuses, we will pay our normal bonuses in January 2008.
Please feel free to contact our Co-Directors of Associate Development, Molly Peckman or Doug Ebeling, with any questions.
Again, thank you for your efforts and best wishes to you for a happy, healthy and prosperous New Year!
This e-mail is from Dechert LLP, a law firm, and may contain information that is confidential or privileged. If you are not the intended recipient, do not read, copy or distribute the e-mail or any attachments. Instead, please notify the sender and delete the e-mail and any attachments. Thank you.
MAYER BROWN -- 2007 ASSOCIATE BONUS MEMORANDUM (CHICAGO, PALO ALTO, WASHINGTON)
M E M O R A N D U M
December 28, 2007
TO: Chicago, Palo Alto and Washington Office Associates
FROM: Cabell Chinnis, Jr., Peter L. Scher and Frederick B. Thomas
RE: 2007 Bonuses
We are pleased to announce that the Firm will again pay bonuses to
associates in our Chicago, Palo Alto and Washington offices who worked
2000 qualifying hours and that bonus amounts paid at 2100, 2200, 2300
and 2400 hour thresholds will be consistent with the amounts paid for
2006 work. In addition, a further discretionary bonus may be awarded
to associates who have made contributions to the Firm significantly
beyond expectations. In general, associates in the Class of 2006
finishing their first full year will be eligible for bonuses starting
at $20,000, with senior associates eligible to receive up to $100,000.
The Firm will make bonus decisions based on individual achievement,
performance, work quality and compliance with Firm policy. Consistent
with our past practices, we anticipate communicating bonus amounts for
2007 work, as well as salary adjustments for 2008 class progression,
to individual associates in February. We plan to incorporate the
bonuses and salary adjustments to reflect class progression in the
March 7th paychecks. As in the past, any salary increase for 2008 will
be retroactive to January 1, 2008.
We are grateful for and pleased to recognize the significant
contributions made by our associates to the professional and financial
success of the Firm, to its reputation as a great place to practice
law and to the personal camaraderie we enjoy. We hope you have a Happy
New Year.
MORRISON & FOERSTER -- 2007 ASSOCIATE BONUS MEMORANDUM (NEW YORK)
On behalf of the Firm and the New York partners, I am pleased to announce that we will be paying New York market year-end bonuses for 2007 in the amount described in the chart below.
We also will be distributing additional special bonuses to associates who have made strong contributions to the firm based on client service hours (including billable, pro bono, and legal service hours).
Both bonuses will be paid to New York associates in a manner consistent with the Firm's compensation and evaluation policies. Bonuses will be based on salary class year, will be pro-rated for start dates, part-time arrangements, and any leaves-of-absence taken during the calendar year, and will be paid to all New York associates who progress with their salary class based on their annual evaluation and who are in good standing and employed with the Firm when the bonuses are paid. Bonuses will continue to be paid at the end of January consistent with the bonus payment schedules in other offices.
We will be determining bonuses for of counsel on a separate basis and will send individual messages on those bonuses in early January.
The amounts of the special and year-end bonuses will be as follows:
Class Year: Amount of year-end bonus / Amount of special bonus
Class of 2007: $35,000 (pro-rated) / n/a
Class of 2006: $35,000 / $10,000
Class of 2005: $40,000 / $15,000
Class of 2004: $45,000 / $20,000
Class of 2003: $50,000 / $30,000
Class of 2002: $55,000 / $40,000
Class of 2001: $60,000 / $50,000
Class of 2000: $65,000 / $50,000
Class of 1999 (and prior years): $65,000 / $50,000
You each play an important role in the Firm’s success and we thank you all for your continued commitment to the Firm and its clients.
(72) Comments
What about MoFo in California?
JD Chicago?
Jones Day DC did not pay bonuses, regardless of merit or hours for the (screwed) associates.
Associates are pretty pissed, especially considering that there are vacancies (some created in the past 2 weeks by departures, others more long standing) in some departments, and no one can figure out how Jones Day is going to competitively recruit laterals when they don't pay bonuses (regardless of the actual amount) or market base salaries to mid- to senior-level associates. So not only have Jones Day DC associates been screwed monetarily, but their quality of life will continue to be screwed as they work longer hours to make up for the lack of associates.
K&S New York?
Jones Day and MoFo are both bush-league Dojos. My Dojo, Cobra Kai, paid market salary, market bonus, and special bonus. But, that's only because we were willing to put people in body bags.
Good one Johnny!!
So, Lat, when is the promised report on firms that claimed to be paying stellar bonuses but did a little hours bait and switch (Quinn Emanuel) going to be up?
Sweep the leg!
How do people get their names to be links?
as a non lawyer... I can't say that I feel sorry for anyone here. there are plenty of industries where starting salaries, much less bonuses, are nowhere near that.
Do you have a problem with that Lawrence?
No Sensi.
Then sweep the leg.
But I can't.
Then you shouldn't be working at JD DC. If you wanted a bonus you should transfer to NY office and get regular + special.
what will Dechert Philly get?
m14, go back to flipping burgers at Mickey D's.
m14, get back to washing my car.
m14, get back to mowing my lawn.
m14, get a life. The only people with any room to complain about lawyers' salaries are doctors, because they spend just as much time and money on school but don't get compensated accordingly. Anyone who didn't spend four years' salary plus three years (without salary) on professional school doesn't have a leg to stand on when they bitch about law firm salaries. You want a law firm salary? Then go to law school like we did, spend yourself into the ground like we did, work your ass off like we did, put in the effort to get a firm job like we did, and then spend every waking moment either undertaking repetitive, mind-numbing work or thinking about all the repetitive, mind-numbing work you have to do after dinner. Otherwise, shut up, you whiny little bitch.
Why should Jones Day associates be pissed about no bonuses? Jones Day pretty much never pays bonuses. Hope springs eternal, I guess.
"The only people with any room to complain about lawyers' salaries are doctors, because they spend just as much time and money on school but don't get compensated accordingly."
They don't?
5:29 - Correction, JD DC never pays bonuses. NY always pays bonuses (except one year in 01 - which resulting in a mass exodus so they won't make that mistake again).
What about DLA?
regional firms??
"You want a law firm salary? Then go to law school like we did, spend yourself into the ground like we did, work your ass off like we did, put in the effort to get a firm job like we did, and then spend every waking moment either undertaking repetitive, mind-numbing work or thinking about all the repetitive, mind-numbing work you have to do after dinner."
Man, I sure am glad I went in house.
Hmm, maybe JD Chi and DC would be a good place for me to send my res. Hope I did well first semester.
Hadoo-ken!
Wait a sec. Does that MoFo memo say that NY associates get regular + special + "additional special bonuses"??? Or is the "additional special" the same as the "special"? I suppose it's the latter, huh?
Relax, Jules: I'm on the mofo.
Does anyone know what MB bonuses were last year?
Patterson Belknap paid market + special bonuses last Friday. Individual letters, no memo.
6:58, don't be an imbecile. It's poor writing, but it's clearly (a) normal year-end bonuses plus (b) special bonuses (but only to those who billed heavily). MoFo is one of the cheapest firms out there -- they pay their associates at HQ *no bonus at all* unless they bill at least 2100 (at which point they get like $7500); if any firm were to up Cravath's ante, it would not be this firm (whose revenues per lawyer are probably 1/3 of Cravath's).
Is it safe to say that MB is setting the non-Kirkland market in Chicago?
It appears they are blowing MWE and Sidley out of the water. It is sad when 20k can do that.
I wonder how many (and which) V50 firms pay market bonuses ONLY for certain offices?
1) JD.
2) MoFo
uuuuuuuugh uuuuuuuuuuuugh na na na
you blokes should be concentratin about learning yo crafts and becomin partners one day, instead of guessin what people get paid at what firms. lads, chillax
As a firm, JD is great. Good people. Interesting work. Friendly and relaxed environment.
As a place to be compensated fairly, Jones Day sucks! (except maybe in New York ... but the lawyers there are now persona non grata in all other offices).
Needless to say, as has been repeated in other comments, morale is fairly low. I know of quite a few Associates that are already looking for greener patches elsewhere .... while the firm is great, I am sure there are other good firms out there. The difference is they probably pay fairly ... if we are expected to bill 2000+ and have no life, it seems reasonable that we should expect to be compensated for it at market, not in New York or elsewhere ... at least market in DC!
Earth to Jones Day!! Does anybody care over there? Or are all Associates fungible like partners are so fond of saying?
10:59 ... partnership is so remote at BigLaw, it is not a worthwhile objective anymore.
11:04 ... get over yourself. Associates ARE fungible, and Jones Day will you as little as they can get away with. The firm is second class, and living on past reputation. It is like General Motors in a market dominated by Toyota and Honda .... a dinosaur living in an edifice of a decadent past ... a has been!
Want to be compensated well, go to a real firm ...
Why would anyone work at that firm is beyond me ...
11:04 ... get over yourself. Associates ARE fungible, and Jones Day will pay you as little as they can get away with. The firm is second class, and living on past reputation. It is like General Motors in a market dominated by Toyota and Honda .... a dinosaur living in an edifice of a decadent past ... a has been!
Want to be compensated well, go to a real firm ...
Why would anyone work at that firm is beyond me ...
Dechert eased up on the billable hour requirements necessary to qualify for a bonus. It's unclear how many associates are going to benefit from this, but the firm apparently wanted to recognize that some associates had been working very hard until their work flows were affected by events in the credit markets. Have any other firms similarly eased up on bonus requirements?
Come on Lat - contact JD DC and ask them what the heck is going on. I've heard rumors that there are high level meetings going on about whether to change the bonus policy. Get them on the record
Lat, how about a blog about how OMM NY didn't end up giving the special bonus and is firing top tier grads en masse?
Chi-town, there isn't a Chicago market. Kirkland is highest, Mayer is second, and there is no grouping of other Chicago firms to create a "market."
Seyfarth Shaw is an AmLaw100 and has about 450 in their Chicago office (although really not in same league as KE or MB in terms of compensation or bonus).
7:36, what Mayer numbers have you seen posted?
Jones Day DC giving bonuses (so long as they are not insulting) would be about as big a morale booster as one could imagine around here. Other offices have shown that it can be done. Come on DC, show us you can do it!! Prove the naysayers wrong!!
Can anybody provide a list of what Jones Day offices *did* pay bonuses?
JD Chicago paid bonuses. Not NY level, but competitive with the charts I've seen from Mayer Brown. The CODE prevents me from saying more.
Are there any biglaw firms other than MoFo where there is such a wide disparity between total NY compensation and compensation in other offices? It seems like a senior MoFo associate in NY could be making around $100K more than his peers in SF or LA for the same hours. Is that correct?
C'mon Lat, where are the bonus survey results for CA? I know we got screwed, but I'd love some data re: exactly how badly we did before I start my search.
weak sauce, 10:58. the CODE is your oppressor. give us data.
11:04pm: "As a firm, JD is great. Good people. Interesting work. Friendly and relaxed environment."
Really? Nothing (other than lower salaries, no bonuses, a longer partnership track, and an office location far away from other law firms) at JD DC is different than any other law firm in the city. They have the same big-name clients that every other big firm does, and those clients certainly don't treat Jones Day attorneys any differently than the other law firms they hire.
The bottom line is that Jones Day DC does not pay bonuses. So if you think that you are going to be a high-quality lawyer that will be "in demand" by partners, you should go somewhere that will compensate you for the late nights and weekends that you will end up working. Jones Day DC does not have a culture where you can turn down work (nor do most other big firms). The same conclusion holds true if you think that you're going to end up working a lot at whatever big firm job you take. You might as well go someplace that will compensate you for the missed family/friend/birthday time.
We need a thread comparing bonuses for NY to bonuses for CA (or other non-NY) offices. It seems crazy (and very bad for CA morale) that a mofo assoc in SF or LA can get nothing while that same assoc in mofo NY could get over $100K.
I understand that this is a market-driven thing, and have no problem with NY assoc getting somewhat higher bonuses, but this level of disparity in compensation for the same work is ridiculous.
JD SF/SV paid bonuses that did not match other CA-based firms such as Gibson (i.e., NY regular bonus but not special bonus), but approached what OMM gave. Tough to say where this falls in the spectrum until we get more data for bonuses in CA.
I will pay $1 to the first associate from JD who reports an actual number value of an actual bonus. I don't care if you don't even report your office location, your year, your practice area, your hat size, or anything else that may be personally linked to you in some way that makes you fear being sanctioned for violating the CODE.
I am beginning to feel that JD bonuses are like Bigfoot - people claim to have them, but they can never offer any evidence.
12:43, you're exactly right. MoFo management has its head in the sand when it comes to keeping morale high in the home office. They think that some modicum of prestige and generally being known as a "great place to work" (even if it no longer is) is sufficient reward for dealing with comparatively lower compensation and higher hours demands than competitor firms (not to mention passive-aggressive partners). That's why MoFo SF associates leave in droves, frequently to go to other firms.
2:11, I'll answer your question AND tell you where I'm from. My bonus was 0 dollars, and I'm in the JD DC office.
ok, who wants to join 2:55 in adding some numbers about JD?
2:11 - mine was $30K (and I'm not in NY).
Has anyone at JD DC approached someone with decision making capacity to ask about the lack of bonus? Or, is questioning authority also a violation of the CODE?
3:24 - didn't that feel good?
who else from JD wants to give a number?
So are there other firms besides Mofo that pay $0 at 1950 hours in CA, but up to $115 in NY for the same hours? It seems unbelievable that the "market" justifies such a wide disparity.
We should also get data on how much above or below market JD DC salaries are (for both 2007 and 2008). The powers that be will argue that the lack of bonuses are made up in the salary bump, but that can't be true.
JD Chicago is really in the same bonus league as Mayer? We need more details if so, since this can help out our brethren at Sidley and McDermott by establishing a market. Mayer's last year (and presumably this year) were 20k for meeting 2000, plus a multiplier based on your year (e.g., 7.5k per 100 hours over 2000 for a first year, 8.5k per 100 hours over 2000 for a second year, etc), plus a discretionary bonus for some people (though handed out very rarely).
3:24, what were your hours?
I can just picture the lunches with summer associates at Jones Day DC in the coming months:
Summer associate: So, is it true the DC office of Jones Day doesn't pay bonuses.
Associate/Recruiter: Um, yeah, that's pretty much (read: absolutely) true.
Summer associate: How about base pay?
Associate/Recruiter: Well, after the first year it is "merit based."
Summer associate: Does that mean it is more than other big firm associates are making, you know, to compensate for no bonus?
Associate/Recuiter: Er, well, um, maybe for some people, but nobody I've ever actually spoken to . . . or heard of. But it's possible!
Summer associate: Isn't it true that other Jones Day offices are paying bonuses?
Associate/Recruiter: Well, that does appear to be the case. But those other offices aren't quite as *prestigious" are they?
Summer associate: (Looking at menu and hoping to change subject while thinking of 3L interview season) I guess that makes sense . . . How about dessert?
Associate/Recruiter: Go ahead . . . I can't, lest we go over the $35 limit.
Summer associate: Thanks.
Lat, it really seems like you should address this Jones Day issue head on. Such a big firm, so much mystery about something as fundamental as associate compensation.
Troll Hunter:
you sanctimonious little prick. Not ONCE did I say I want a "lawyer" salary, nor did I say I was jealous of yours. I could give a shit. What blows my mind is hearing you fucking bitch about your 160k job that you KNEW going into it would be demanding, that you knew would mimic that of a sweatshop, and yet you still hold your goddamn jd degree like its some kind of gold plated trophy.
you're the reason people think all attorneys are assholes. seriously.
my only point was that there are plenty of industries and jobs where people work just as hard and don't bitch when they don't get a fucking bonus.
I know that law school is tough, as I lived through it, and I know plenty of people who read this board and partake in it have busted their asses to get where they are. However, you haven't convinced me in your several comments that you aren't anything but some asshole associate who probably signs off on all emails with "esq." attached. Grow Up.
m14: If you don't like the bitching about compensation on this blog, then look away (see Simpson's Halloween special circa 1995), but that's what this puppy was made for.
9:32 ... lack of bonus at JD DC is NOT made up in the base salary. I would like to hear someone say otherwise with a straight face!
Williams & Connolly makes up its bonuses in its above-market base pay. I can tell you for sure that JD DC's base salaries are NO WHERE NEAR W&C's.
~2000 hours
HEY LAT!!
Every bonus thread devolves into a Jones Day guessing game/bitch fest.
Why don't you just write a POST about Jones Day and let all this bonus crap get hashed out once and for all.
It's one of the largest firms around, you can't just ignore it!
In order to get the special bonus at Dechert NYC, you needed 2000 billable hours. The memo says that those who were "reasonably close" got 50% or 75% of the special bonus, but I am unaware of anyone who got 50% or 75%. Anybody have some insight on what "reasonably close" means? Does it mean 1995 hours?
You all pick and choose your careers. If you feel under appreciated or under compensated, then go elsewhere. Most of the complaining is being done by associates. You have to earn your stripes. That's the same for anyone, be they mechanic, plumber, steel worker, doctor, lawyer or soldier. Be happy earning what you're earning, and next time you're thinking about how bad your four to five digit bonus was, consider the fact that there's people that work around you that had decimal points in their five digit check.
WTF is this NYC special bonus all about? Just so a bunch of single under 30 year olds can buy their John Lobb's at Barney's??? Last time I checked Bay Area billing rates were the same.