Associate Bonus Watch: Goodwin Procter
Last week, a Boston tipster told us:
As you probably know, the rest of the Boston firms will begin announcing bonuses next week (finally). Anyway, just thought I'd let you know that associates at Goodwin Procter received a very short email yesterday that there would be a meeting on Tuesday at 1pm to discuss "this year's attorney review process, review delivery and total compensation determinations." We'll be crossing our fingers that the firm will match NYC and the bigger Boston firms (Ropes, Proskauer, Weil) with the special bonuses.Goodwin is on a 9/31 fiscal year and 2007 was their best year in the firm's history. If they cheap out, there will be a LOT of complaining.
It looks like they didn't "cheap out." From a different source, who was at this afternoon's meeting:
Goodwin Procter matched regular and special bonus - 1850 billables (I know not a true match from you perspective, but in reality there are very few firms in the city who do not have some hours requirement; all things considered, theirs is low). No memo, had an all associate meeting. All other offices on the NY scale w/o special bonus.
P.S. Completely unrelated to law firm life, Heath Ledger has been found dead in New York. He was a talented young actor. May he rest in peace.
Posted In: Associate Bonus Watch 2007

Anyone know anything about Wilmer?
firsty!
First. I know a certain large, best places to work firm who WILL cheap out on bonuses (and it's the firm who doesn't announce until mid-February).
Heath Ledger was an asshole.
That's so sad about Heath Ledger..doesn't he have young children?
4:56, even if that is the case, you could refrain from being one too.
4:56, even if that is the case, you could refrain from being one too.
Did NJ firms give out bonuses? How selective are NJ firms like Lowenstein, McCarter, Day Pitney, Riker???
NOOOOOOOOOOOOOOOO!
4:56: good one. Speaking ill of the dead = class act!
GP is paying special bonus only to NY associates. They did cheap out in other offices.
Anyone care to speculate on the rest of the Boston players? I'm actually surprised that any Boston-based firm would give out a Special Bonus in Boston. Did Ropes? It will be interesting to see what Wilmer, Bingham, Mintz, Choate, etc. will do.
Lat, don't be a horse's ass and take the Ledger thing out of the post. We want our moment untarnished by an event that, while very sad, is completely unrelated.
what's a "9/31" fiscal year?
A fiscal year that ends on September 30th and begins on October 1st?
I agree with 5:11, separate the posts!
HEATH LEDGER IS DEAD!
Nihil nisi bonum mortari.
Ropes paid special bonus in Boston to associates that "perform NY type work (likely 2300+ billable hours )." GP is outclassed by Ropes again!
Brokeback Overdose.
It appears that Goodwin NY may be the only Goodwin office receiving the special bonus, as it was mentioned specifically during the meeting. Goodwin Boston associates are not a happy bunch, not by any means, especially after the firm claims to have had such a great year. Goodwin could surprise and do right by its associates come the 25th, but looks like Ropes (and Wilmer) have started to pull ahead again.
None of Goodwin, Wilmer and Ropes are paying "special" bonuses in Boston, other than to associates billing 2300+ hours.
P'Ta Mon John to 12 inches!!!
That's pretty amazing that GP is matching NY bonuses (minus the special) in LA and other cities. Pretty crazy to know that people in the same year with the same credentials made $30K than me, total package (although in LA those firms are very few and far between - not many are paying $35K bonuses to 2006ers). You know, when we're talking a $30K or $40K difference, can there EVER be any real reason not to go for the top-dollar? Even if you have your heart set on some specialty practice or going to a smaller firm to try to get away from mega-dollar cases where all you'll do is crap work, for $40K a year more, we can handle a lot more crap. Wow.
So - except for Weil, Proskauer and Skadden, to date there are no NYC-style special bonuses in Boston, correct?
I assume Lat's 2nd source is just talking about NYC?
In reality, GP is a hidden gem. 1850 billable, 100% of pro bono counts (although they are starting to pressure people to cut down on some of these hours), market salary, and outside of nyc and boston, bonus amounts that exceed the general market (for non nyc-based firms atleast).
There are downsides here to be sure, but compensation (especially considering the relatively low hours worked) is not one of them.
5:30 - did Wilmer announce in Boston yet?
Does any know what EAPD does for bonuses?
Yeah, what does Edwards Angell Palmer & Dodge pay? Or how did Edwards & Angell or Palmer & Dodge pay before the 2006 merger?
GOODWIN DID CHEAP OUT! Ropes, Proskauer, Skadden and Weil all paid their associates the special bonus. And that's a serious chunk of change.
Law students, I hope you're watching this because you WILL work the same hours as these firms (1850? yeah right!), so why not go to a place that will pay you 10-50K more!?
GOODWIN DID CHEAP OUT! Ropes, Proskauer, Skadden and Weil all paid their associates the special bonus. And that's a serious chunk of change.
Law students, I hope you're watching this because you WILL work the same hours as these firms (1850? yeah right!), so why not go to a place that will pay you 10-50K more!?
GOODWIN DID CHEAP OUT! And they really pissed off all over their associates in treating the NYC associates differently. You could have cut the silence with a knife today. Folks in the headquarters work just as hard if not harder as the NYC associates and definitely make just as much if not more money for the firm.
Ropes, Proskauer, Skadden and Weil all paid their Boston associates the special bonus (Ropes had a minimum hours requirement -- 2200).
Law students, I hope you're watching this because you WILL work the same hours as these firms (1850? yeah right!), so why not go to a place in Boston that will pay you 10-50K more for the same work? It sucks to be at a second tier firm.
And I think we have a rat on the boards... "GP is a hidden gem"? GP is lke every other biglaw firm in the country. They want to make you work as hard as possible for as little as possible. Pro bono hours??? I bet there are fewer than 10% of associates who have any time for pro bono hours. Let's not forget how BUSY GP was this year (best year in history!), which makes them dissing their associates even worse.
EAPD?
Anyone looking for EAPD info should contact Anthony Ciolli at AutoAdmit.
ropes boston paid ny market and special bonus and sometimes even higher to, i believe, all 2300+ and some 2150+ billers in boston.
Ropes paid special bonuses to at least some Boston associates who billed less than 2300 hours. I know Boston associates who billed around 2150 and received the full special bonus.
Correcting some misinformation... information from the meeting today was that bonuses would be based on and average the NY (sans special) scale. NY associates and professional track will get the special bonus.
Goodwin does not do pure lockstep. Hours and review rating both factor in. We were also told that strong billers/performers would make above this amount. So bill more, make more than the NY scale. Call it what you like, but more money is more money.
Also, I have no idea what "all non-NY associates" think as I am only one of them. Given the tax burden and cost of living, I have no problem with the firm meeting the NY market in NY only.
The 1850 is real. The money is real. The anonymous b.s. is both anonymous and b.s.
I'm an associate at Goodwin (Boston) and don't really care that the NY associates got the special bonus. It's not market outside of NY, which is too bad, but we can't do much about it. My good friend at Ropes (Boston) billed 200 hours more than me, wasn't all that pleased with the firm, and we're both going to end up with the exact same thing. And in any case, none of the offices are lockstep. Those with "exceptional quality/hours" are going to get above market (allegedly), which could bring the Boston office closer to special bonus territory for some.
yawn, wake me up when there is a memo
you guys are such suckers. I represent the hottest stars and up-and-comers, make close to what biglaw associates make, but have a great work life (client dinners, etc.) and do much more satisfying and interesting work than you document monkeys. It's not all about the money - with us entertainment lawyers, it's the glamour! Be jealous now peons.
Proctor!
A hidden gem? Nope. Just another sweatshop with a murky, hide-the-ball blackbox of a bonus system. Good associates get screwed and bad associates get good bonuses, depending on whether you are in the right clique. A good place to work? Sure. Fair on bonuses? Not at all.
Ditto on E-lawyer's message, sans the the glamor. Instead, it's the opportunity to bang young, hot alcoholic chicks. My special bonus comes quick and it comes often.
I heard that most Boston associates were not upset about the lack of the special bonus. Pisa can go back to the Vineyard now to her mansion built on the blood of the many GP associates that billed 2700 hours this year.
Boston associates are definitely upset about the lack of special bonuses. just take a look at the faces tomorrow.
You didn't really think that boston would give a special bonus did you? It was becoming clear to me weeks ago that this was going to be just a NYC thing.
And yes, Proskauer, Weil and Skadden simply count as NYC firms for all relevant purposes
In related news to the bonuses, Bobby Fischer also passed away, at age 64. Long live the king.
Boston Goodwin associates are fuming. There may be an angry horde gathering on the steps of 53 State tomorrow morning with torches and pitchforks.
If you are billing 2700 a year, what bonus would actually make it feel worthwhile?
We disagree. It has been our experience that Heath Ledger was a young actor no more talented than the rest. We do hope this was an accidental overdose and not...shudder...suicide.
as a goodwin summer associate for '08, not sure what to think
Weren't GP Boston Associates pissed when NY went to 160k and they were still at 145k? A whole lot of good their annoyance did. It wasn't until the market caught up that Minta and Company upped salaries. All the whining about a lack of special bonus will have the same result: nothing.
the idea that a bunch of goodwin associates are billing 2700 hours is ridiculous. i'd wager that 85% of associates bill between 1800-2200.
and 10:50, don't make the associates look like jackasses. did you really think the firm was going to come in at $10K above ropes for everyone? really? tons of precedent for that.
I billed 3k this year. I never want to work like that ever again.
Seriously, why is GP comparing itself to NYC powerhouses like Weil?
The only real firm in Boston is Ropes, everyone else just needs to learn to accept that.
No surprise that GP is playing second fiddle to Ropes, which did in fact give specials to associates billing 2100 or higher. Wilmer has not announced numbers yet, so GP is playing on the fact that Ropes' bonuses alone do not "make the market."
Just as in NYC, I think we willy finally see some stratification in the Boston market. The NYC-based firms (Proskauer, Skadden) and Ropes will be the top landing spots for HYS graduates, and the other large firms will be second place. Proskauer/Skadden/Ropes will only have so many open spots, so despite the noise from associates at other firms, the reality is that Goodwin and other large, non-competitive firms will simply live with their second tier status and know that they can do just fine without the top of the law school graduates.
This is precisely what Minta Kay discusses with firm management at Goodwin, but will obviously never be the topic of an open discussion at the firm. Those who wish to fight it may certainly try their luck in NYC.
lol at thinking Proskauer or Skadden are more desirable places to land in Boston than Goodwin. If anything, given its national expansion and growing reputation, I'd say its more likely that Goodwin overtakes Ropes as top dog in the next ten years than Proskauer becoming a big player. Goodwin is the only one of the big three in Boston that is establishing a west coast presence and their diversity keeps growing. I am a 2L at Harvard at while Ropes is still top in these parts (especially for corporate) when it comes to litigation, GP/Ropes/Wilmer is now pretty much a coinflip based on fit.
This is all overreaction and given Goodwin's individualized bonuses, I bet those billing 2100+ will get compensated on a scale equal to NYC bonus+special
I hear that since Heath Ledger was a New York-based actor, he will be granted access to "special heaven." However, his Boston counterparts will only get access to "regular New York scale heaven," even if they had upwards of 2400 minutes of on-screen time in major motion pictures and/or highly rated independent films. Boston will always play second fiddle to New York in high-profile suicides!
Agree with 12:02. In terms of prestige, GP trumps any NY-based firm with an office in Boston. But I also wonder whether GP's reputation as the "up and coming" firm is overstated.
Anyone have any bonus info for Crane, Poole and Schmidt?
To anyone who's drinking 9:45 entertainment lawyer's Kool-Aid:
I left Biglaw to go in-house entertainment (and then boutique firm entertainment) for 3 years. Worst decision I ever made. Anything in the entertainment industry pays WAY below market (due to the competition for the jobs based, I suppose, on the coolness/prestige factor of dealing with jerk-off agents all day). The LA boutique firms pay well below LA biglaw at all levels, including partnership (until you become quite senior, and then it's anybody's guess, (but I'd bet that Morgan Chu and John Quinn make more than Tom Hansen and Ziffren)). If you want to practice entertainment work in a biglaw environment, well, have fun jumping on that OMM sinking ship.
12:02: "Goodwin is the only one of the big three in Boston that is establishing a west coast presence"
12:02, Ropes & Gray has offices in San Francisco and Palo Alto with a total presence comparable to / arguably exceeding Goodwin's west coast operations. Ropes & Gray also has one of the top IP practices. WilmerHale has a Palo Alto office and just opened a Los Angeles office. WilmerHale also has one of the top DC offices.
On the other hand, Goodwin is extremely late to the expansion game (even more so than Ropes and Wilmer are), is the clear #3 of the Ropes/Wilmer/Goodwin trio, actually fell behind Skadden Boston (of all places) to #4 in the latest Boston Vault survey, has a growing reputation of being "cheap" with callback accomodations (for many of my friends, the only firm that gave them any grief whatsoever), and now, gives out substandard bonuses.
Goodwin's only advantage, as previously mentioned, is milking its perception as an "up and coming firm." The smoke and mirrors won't last forever, especially if they keep alienating their associates with below market rate bonuses.
And while Skadden and Weil don't seem to be expanding their Boston offices much, Proskauer is doing so -- and rapidly. If Proskauer keeps that up, keeps paying more than Goodwin, and gets a little bit of a reputation boost (likely to happen if they keep paying as well as they do), I wouldn't be surprised at all if Goodwin starts to fall behind it too.
After reading the summary and the board posts the only thing clear is that no one has any real idea what's going on at GP. Does anyone have a sense as to what the $ amount (or range) by class year that GP will be paying??? Without this information how can anyone detwrmine whether GP has come close to Ropes, is matching Ropes or is letting Ropes lead the way. Word has it that many Ropes Boston associates got special bonuses even at 2000 hours. Until we hear final numbers or range from GP this story isn't close to over. IF GP really isn't paying special bonuses they will be up to 50,000 behing Ropes in comp for senior associates, which would be shocking.
I suspect that GP had its meeting today to gauge the associates reactions before releasing full numbers later in the week. So speak up people and let it be known that GP is a Boston market leader not a follower that lags behind in comp.
You have a few days to let it be known that Boston deserves special bonuses (like Ropes, Proskauer, Skadden, Weil, and possibly Wilmer(?)). Make those days count!!!
All I know is that I have two friends at Ropes, same year, similar hours, and I'm getting more than both. Obviously not the biggest sample size, but take note.
Overall people were worried that not having an official across board special bonus would hurt, but it seems like people are getting what they deserve.
I billed reasonable amount of hours (2150) and I am getting a bonus on par with nyc+special.
Goodwin did CHEAP OUT if they in fact did not paying special bonuses in Boston. Once the dollar figures come out future summer associate candidates may be able to thank Goodwin for making their decisions easier. Why would anyone pick Goodwin over Ropes if Goodwin tries to cut compensation corners even in a banner financial year. The firm may have its plusses over Ropes but those pluses are relatively minor when compared to being significantly short changed with respect to $$$. If Goodwin doesn't pay special bonuses to associates billing over 2000 in Boston they are putting themselves in a lower tier to Ropes, Skadden, Proskauer, Weil, etc.
7:19, how are you privy to information that's not supposed to come out until Thursday?
personally, i think these threads are retarded. i know you want to post as many as possible, but instead of just waiting a couple days you just toss this up and its nothing but speculation. until i see an actual memo or confirmed reports of ACTUAL amounts, I'm not buying anything. Goodwin knows that the best in brightest people that want to come to Boston sit down and think "Ropes, Wilmer, or Goodwin?" Why would they cheap out now, ruining future recruitment efforts. With only three major Boston firms, its not quite as easy to fly under the radar.
Just recently Goodwin entered the picture and picking them over a Ropes or a Wilmer became a realistic/sensible choice for some people and now they want to ruin that all and go back to some second tier? If so, awful choice on their part, but I'm waiting for a real memo before I come down too hard.
MWE is supposed to announce today. WE WANT DETAILS!!
Yes, 7:19 - did you raid the interoffice confidential envelope cart? And if so, did you see my envelope in there? :)
Let's get our facts straight about Ropes.
It is true that Ropes' bonus memo was opaque this year. But in typical Ropes fashion, they bungle the message but then deliver the goods. On the QT, Ropes made our mid-year salary raise retroactive to January 1. Then they paid full bonus + special bonus to associates in all offices, including Boston. In Boston, some people were $2,500 to $5,000 less than the full "NYC lockstep" bonus. It is hard to discern the exact criteria. But it seems that if you hit 1900, you were got pretty close, and if you billed over 2100, you got the full NYC special bonus + retro active raise (yes, that means some bonuses at Ropes Boston were larger than the "NYC lockstep" scale).
My numbers: 1950 billable, 150 pro bono
Total Bonus: $52,500 (aka, a truck load of money for a doable lifestyle)
Boston associates need to quit their complaining. You are never going to get a special bonus (unless you are at an NYC firm or are billing hrs way above market).
Be thankful you still have a job in this shite economy
9:09 - MWE's Management committee is supposed to meet today to decide on a course of action. So, probably no announcement. Besides which, if you work at MWE, you're certain to be disappointed by whatever action they decide to take, so the longer they wait to announce, the better for your delusions of "market" rate compensation.
In related news, Don Goldman (head of the comp. committee at MWE) eats babies.
9:25, what class year?
Boston associates will have grim faces today not because of their bonuses, but because that's how everyone skulks around in Boston. The brightest lights in that city come from the hot pink ties all of the finance douchebags wear! I love D.C.
Yeah, 9:25 -- what year are you? Need to know because I might kill myself if you're a junior associate.
Its pretty much crap that the special bonuses are only being paid to NY associates. It basically sends a message to Boston associates that our work is not as meaningful to the firm.
Why is there so much of an emphasis on paying market in NY when our NY associates clearly don't work hours that are market as compared to other NY law firms?
As to the comment about cost of living and taxes in Boston making the pay difference ok - still crap. Rent and living is not SO much cheaper in Boston. Also, that's not much consolation for me when I'm here late at night billing 2150 hours.
At the end of the day, this is just another example of Goodwin being cheap and being a follower not a leader. Ahhh, the things you wish you knew as a summer....b/c lets face it, you work hard at any big Boston firm - might as well get paid top dollar.
7:19 - did you overpower John and steal your interoffice envelope? Do share!
Must make GP associates sick to think that a mid-senior associate at Proskauer in Boston billing 2000 will make 30-50k more then them...ouch!
10:30 - LOL...Proskauer rocks!
10:30 Yes it does make me literally sick to my stomach. And I'm not the only one.
Law Students/Summer Associates listen up: Goodwin is a great place to work, don't get me wrong, but this is seriously screwed up. It's the firm's BEST year in history and they cheap out on their associates? By 30/40/50K?? I'm sure Proskauer and Ropes are great places to work too.
It's just one of those things GP associates will think about next time we're being asked to work a holiday or do a bunch of recruiting interviews. Whats the point of being a gunner and working like crazy when a mid-level associate in the building next door is making 40K more!?
lockstep pay and bonuses blow anyways
boston to hourly wage!
At 10:02 -
Boston Assoc., Class of 2005
When do Boston firms begin recruiting law clerks?
Anyone know anything about Foley Hoag?
When I heard that the corporate holiday party was at the Cheers annex and that the firm outing is every OTHER year and when they didn't cancel the holiday party this year despite the blizzard (read: did not want to forfeit deposit) and when they consolidated our class outings into one big cheesy clambake outing, I should have known they would CHEAP out.
Latham announces bonuses on Friday
at least Goodwin summers got Celtics tickets!
11:32:
The litigation holiday party was at the State Room and wasn't cancelled because some of us don't let snow get in the way of drinking and fun. Also, some of us like hanging out with people from different classes. (unless they happen to be whining jackasses who look for things to complain about).
There were a ton of people from both litigation and corporate at the after holiday party get together at Clarkes. Clearly enough people made it to the holiday party, so there was no need to cancel it because of the "blizzard".
Also a Goodwin Assoc. @ 12:33 - Wipe the shit off your nose and get back to work.
1850 requirement is real. I billed 1650 billable and about 200 pro bono last year. can't beat it.
2:15 -- what was your bonus last year? I have heard that eeking over the 1850 mark will get you almost nothing. However, maybe that's fair.
I have also heard of associates who bill 1750 and have no desire of getting any bonus, and they don't manage to get fired.
A few points:
1. Bonuses are paid with a view to the future (i.e., to keep people around for another year), not to the past. Since the lateral market just took a nosedive, most firms don't see much of a need to break the bank with bonuses at this point.
2. The sniping between Boston firms is like an argument as to which plus-size model is the hottest.
3. There are a couple of Boston firms that have particularly outsized impressions of their own importance. If not for this, there would be no room for upstarts and out-of-towners. Boston is not that big of a city.
4. Boston associates should be pleased that they make anything close to associates at top NY firms. The cost of living in Boston is much less (yes, it is), there is far less competition for associates in Boston and the firms are less profitable than top NY firms.
Goodwin really sent a negative message to its associates this time around, and the message was heard loud and clear. Spoke to a number of different Goodwin associates from varying class years and not one associate had a positive tone or was happy with their bonus. As for the special bonus, seems that no Goodwin Boston associate received one, regardless of how many hours they worked - at least from the 2100 to 2350 range. One associate I spoke with billed over 2200/2250 (2300/2350 with pro bono/investment time), had a very positive review (nothing negative mentioned) and only received the median bonus for class year (NYC level) without any special bonus or "increased discretion." This also turned out to be less than last year's bonus.
Goodwin is a good place to work - work is challenging, partners are generally very nice and benefits (other than comp) are on par with other Boston based firms. But what Boston firm is not similar in this areas. Quality of work, billing, benefits (other than comp), and all the rest that goes along with working at a big firm around Boston - doesn't deviate too much between firms (I imagine its the same in other markets).
But, here is the kicker - Goodwin associates definitely feel Goodwin "cheaped out" in the bonus area (compared to Ropes, NY office, etc) and its associates are displeased. Goodwin always tries to and does say the right thing, but its actions this time around speak volumes. A real insult to Goodwin Boston(/LA/DC) associates.
It seems that either 7:51, or his or her "source" is a fabricator. Individual bonus memos are not going to be distributed until Thursday.
I also think that 7:51 is making stuff up. Last I heard from friends at Goodwin, associates have not heard their specific bonus numbers yet. While it is true that Boston associates are apparently greatly concerned that their counterparts at Ropes may be making up to $50,000 more this year, they are holding their breath that the actual bonus numbers are in line with Ropes' Boston numbers (annual bonus + special). If there is a significant differential between Ropes and Goodwin's announced numbers Goodwin will be widely criticized. As has been said over and over this year, differences of $5,000 to $10,000 hurt but can be accepted. Differences of $50,000 are very significant and will result in departures, loss or moarale, and recruiting nightmares. This would be very short sighted of Goodwin, particularly when it has been widely announced that they had a great year.
The verdict on Goodwin will be made when the numbers are released.
Let us all know when you find out!!!
Goodwin associates could see bonus amounts on the Intranet today.
Where?
In MyProfile (the Human Resources site that no one uses).
7:51 is accurate and right on target, as well as subsequent posts - for whatever reason, Goodwin associates (Boston, etc) were able to view their bonus amounts (as well as salary increases) on the firm HR intranet site.
7:51 is right - both about being able to see our bonus amounts and by the fact that people ar every disappointed. After I found out my bonus yesterday, I just left the office immediately.
Now that the work day has started, any confirmation of the Goodwin bonus announcements? Could you let us know if they matched NY bonus scales in Boston with or without special bonuses? Were any amounts equating to the special bonuses granted. Details please!!!
Also, any word yet on Wilmer?????
The Goodwin bonus memos went out this morning. I'm class of 2005 in Boston with 2200 hours (billable + pro bono) and got the $40,000 median class bonus.
9:58...You indicated that you got the median, do you know what the ranges are by class?
There was a median for each class year. Class of 2006 started at 35K and the median increased by 5K each class year thereafter.
The message most associates took from the meeting earlier this week was that if you were performing at expectations, you would get the median. Above expectations, you would get above the median. But, the bonuses don't appear to reflect that message and people are very disappointed.
wcphd today
Hold on here - 35K for a "regular" bonus is still above market even on the NYC scale. Is Goodwin giving some kind of higher regular bonus in lieu of the "special" bonus?
If I were you, Goodwin associates, I would be happy - it sounds like you are getting more than if you just got the NYC market "regular" bonus and NO special bonus (which was what it sounded like was happening from the early reports).
I'm at a Boston-based firm that was probably waiting for Goodwin to move and I like what I'm hearing. 35K for first years? Not too bad - could be worse!
10:16: The message is that the 1850 minimum isn't performing at expectation. My guess is the median bonus was awarded at a certain level. 2150? 2200? Guesses?
I hear a lot about NYC scale and NYC market rate. What is the scale this year across class years? (I doubt GP is paying more than NYC market for median after announcing they were using NYC market as the median. That wouldn't make sense.) 10:33: If $35 isn't market for first years, what is, and what is it on up the scale?
35k prorated and standarized for first years (technically working at the firm only one month of the 2007 fiscal year) is nice.
But laterals who joined the firm at or just before the same time got absolutely nothing.
35k prorated and standarized for first years (technically working at the firm only one month of the 2007 fiscal year) is nice.
But laterals who joined the firm at or just before the same time got absolutely nothing.
10:33 If you look back to the original Cravath scale Goodwin is on target for but not above the general annual bonus amount (i.e., doesn't appear that special bonuses were awarded-). Ropes' range in Boston is apparently much higher:
Cravatah's scale as posted on ABL is as follows:
Class of 2007 -- Year end bonus $35,000 (prorated), no special bonus
Class of 2006 -- Year end $35,000, special $10,000
Class of 2005 -- Year end $40,000, special $15,000
Class of 2004 -- Year end $45,000, special $20,000
Class of 2003 -- Year end $50,000, special $30,000
Class of 2002 -- Year end $55,000, special $40,000
Class of 2001 -- Year end $60,000, special $50,000
Class of 2000 -- Year end $60,000, special $50,000 (same as 2001)
10:48 you're right. My bad. However, I think the Boston bonuses last year were lower than the NYC market - I think most Boston offices started around $27,500 last year. That was why I was thinking that 35K was higher.
Anyone at Goodwin confirm what they got last year?
Probably not worth asking about Goodwin last year. Goodwin last year was less regularized, and they made a big goof. The process this year is vastly improved with much more transparency. Props to the crew for that.
Probably not worth asking about Goodwin last year. Goodwin last year was less regularized, and they made a big goof. The process this year is vastly improved with much more transparency. Props to the crew for that.
I've heard that the minimum hours for associates to receive the median bonus is 2000 hours. I also have reason to believe that there are two gradations below that level (probably and 1900 and 1950).
It sounds like you have to get into 2400 territory or have your lips surgically attached to one of the department chairs to beat the median, and even then the deviation from the median is very minimal compared to the hours worked.
Is there no memo?
Word has it that Wilmer announced in boston. Anyone have data?
11:56 - where did you get that info? Would have been nice to have that made clear at the Compensation meeting.
I billed a little above 1850 (including lots of pro bono) and received median.
man, what the hell is going on over there? Lots of conflicting info/numbers. Sounds like Romper Room
The bonuses are not at all transparent. Some people told during their reviews that they were meeting or exceeding expectations still received less than the median. Given 1:27's comment, it doesn't sound like it can all be attributed to hours either.
I billed a little above 1850 (including lots of pro bono) and received $10k less than median.
Do any of you guys talk to each other? Sounds like you need an Associates Committee. I don't understand what's happening over there. Is it totally individualized with no real published criteria? Sorry to say it, but that's sort of bush league....
1:56 - Ditto for me. 1:27 - Was your review off the charts or something?
What about others who billed a little over 1850 with lots of pro bono?
I billed a little over 1850 with lots of pro bono and received 20K below median.
Is this a joke?
I've been getting a bunch of calls from recruiters today. They must be reading this!