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Mentor
Generally standard but people will skip or be held back a year in extreme circumstances
Mentor
Ive seen real star associates (not best in their class but best in the last couple classes) get upjumped a year. Very rare but it happens.
Mentor
Standard. If you’re a high performer (meets billables) you get a standard class-wide bonus. If you exceed your billables you may be able negotiate a second bonus. If you bring in business you may also be able to get an origination credit.
Subject Expert
Getting promoted first year up is moving faster up the ranks
Subject Expert
Are you talking about year to year “promotions” or promotion to partner?
Year to year, our salary/bonus gets bumped up pretty much automatically. It’s pretty rare but not unheard of for someone to be “held back” if they’re not performing well, though. Even rarer for someone to be allowed to skip a year, but I’ve also heard of this happening in the crazy 2021 market (not at my firm). Also sometimes you may be brought in as a lateral at lower than your class year but then allowed to “catch up” to your actual class year if you’re doing awesome and the market is hot a year or two later (I would be very dubious about this if it’s what they’re selling you in interviews but has at least been sold to me as an option).
Promotion to partner is all over the place. The shortest Cravath-scale partner track is 8 years, maaaaybe 7 some places. That’s for ridiculous all stars. Regular all stars are looking at 10+ years to partner. Non all stars are looking at super senior associate so long as there’s work for them, maybe counsel, maybe getting pushed out.
Subject Expert
Yes, my firm has only “associate” title for 8-10 years, then counsel or partner. You can become a counsel after 8-10 years. This can be a forever counsel position or become counsel and still be partner track, which some may choose if they want a better title but more time to build book etc, but you can also go straight to partner. This is all specific to my firm, as A2 said, it varies, but I think this set up is common.