Anyone ever leverage an offer to get a retention bonus? How’d you go about the discussions?

likefunny
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I think this generally will only work if you’re actually prepared to leave. You need to be a good and well-liked associate who is not easily replaced and the other offer likely needs to be to a peer firm. That’s the only scenario that I’ve seen this play out. Also, the associates who got retention offers didn’t ask for one, they were offered one after they actually gave notice.

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It’s extremely rare for associates. In my experience, they have to be a senior associate that is unique and not easily replaced (that typically means they were going to be promoted anyway and practically any junior or mid level can be replaced). In other words, they need to be a superstar senior associate.

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If your priority or preference is to stay, there's a lot you are risking going down this route.

Mine worked out because I have a very good relationship with my partners and I am in a niche practice so there would have been some difficulty replacing me.

I was upfront about it saying "I got an offer from X and am thinking about it. My priority is to stay but the offer is financially attractive".

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Candidly, a retention bonus is not all that advantageous to you in this scenario. Especially if there are other, non-economic reasons you decided to look elsewhere. What is a one-time payment going to solve? If anything, I'd be asking for the current employer to match your new base offer so you at least have some go-forward guarantee of being financially better off. But again, if there are non-monetary things about your current firm you dislike, getting more money isn't going to fix those issues and you're likely to just be looking again 12 months from now.

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My firm offered me a retention bonus after I gave notice. I would not have been able to negotiate beforehand.

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Did you take it?

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