I’ve been out of the game a while, but in my experience half of the biglaw firms who have billable requirements under 1950 actually mean “we have a small, ‘we’re disappointed in you’ bonus that we’ll give you if you hit [1800], and if you do it twice in a row you’re fired.”
First years get 15k. After that, each bonus is one year behind what the full BL market bonus is for that year. For example, a 3rd year associate would get what a 2nd year would normally get, a 4th year would get what a 3rd year would get, etc. Just look up Big Law Investor for that scale.
They also give out reduced bonuses if you fall within 1700-1849 as long as you “align with expectations” (I think the bonus is around 70% of the full bonus, but don’t quote me on that.) I haven’t heard of another firm that does that. I don’t know if they’re going to keep that policy in an economic downturn, but I think that’s great.
FWIW, I’m very happy at Foley. The culture genuinely strikes a great WLB. It’s definitely still BL hours/workload, but you still can have a life.
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I’ve been out of the game a while, but in my experience half of the biglaw firms who have billable requirements under 1950 actually mean “we have a small, ‘we’re disappointed in you’ bonus that we’ll give you if you hit [1800], and if you do it twice in a row you’re fired.”
Subject Expert
This was my thought.
It’s not full market bonus until 2000.
First years get 15k. After that, each bonus is one year behind what the full BL market bonus is for that year. For example, a 3rd year associate would get what a 2nd year would normally get, a 4th year would get what a 3rd year would get, etc. Just look up Big Law Investor for that scale.
They also give out reduced bonuses if you fall within 1700-1849 as long as you “align with expectations” (I think the bonus is around 70% of the full bonus, but don’t quote me on that.) I haven’t heard of another firm that does that. I don’t know if they’re going to keep that policy in an economic downturn, but I think that’s great.
FWIW, I’m very happy at Foley. The culture genuinely strikes a great WLB. It’s definitely still BL hours/workload, but you still can have a life.
It’s full market bonus at 1850. Looks like they are contemplating changing that to 2000 though.