Can someone help me understand the timeline of these bonuses? I’m at a close to Cravath, but lacking bonuses firm, so I am trying to compare salaries with bonuses included. When do these bonuses hit? For example, do you get the $15000 at the end of your stub year, or is it not until the end of the next year (so you’ve been there for a little over a year and are technically a second year)? If the latter, would the $25k not be until you’ve been there for over 2 years?

Post Photo
like
Posting as :
works at
You are currently posting as works at

Stub year is always prorated. For most people who start in October, the amount is basically 15000/12 x 3 (Oct, Nov, Dec) = $3750. You would expect to see your 2nd year 25k bonus at the next December (or early the next year depending on the firm's bonus pay cycle. Your instincts are right. There really is no such thing as a full $15k 1st year bonus. Except for those few who happen to start earlier than the average.

likefunny

This is not correct - at least not in pre-Covid times (not sure how it is now with delayed start dates that go into a new calendar year). But pre-Covid, your stub year is a zero year and most firms pay no bonus or a pro-rated bonus. Your next full year (Jan 1 to Dec 31) is your first year and you get the full 15k.

like

Depends on the firm. Some pay same year, others the following. Also depends on when the billable year starts at a firm. For instance, at my firm, the billable year runs with the calendar year and my bonus for hitting my hours this year will be paid 1/31/2022.

like

Typically, graduates start as law clerks in the fall after graduating in the spring. From what I understand, those clerks/soon-to-be-associates typically get a pro-rata bonus for their first fiscal year at the firm. So if they start on October 1, and the firm’s fiscal year ends on December 31, they’re getting (3/12 x 15,000 = 3,750) as a bonus payout for their stub year. Then, one year after that, when they’ve worked a full first-year associate year at the firm, they get a $15,000 bonus. The year after that, they’re second-years and get the second-year bonus, and so forth.

like

You usually get a prorated stub year bonus, then a first year bonus, then second year. When it will pay is firm-dependent. For example, my old firm pays in December of the same year, new firm pays in February of the next year (a little on the late side), and a family member’s firm doesn’t pay bonus until the end of March (very late).

like

I feel like this is simple, but I have majorly confused myself!

Thanks everyone!

Additional Posts

Big 4 FDD Partner added me on linkedin and asked if I would like to meet for coffee to learn about their firm. I accepted since I think it's a good networking opportunity but what are some good questions to ask? I'm looking to learn as much about their firm and possibly consider them if they exceed my expectations. Currently S2 at a middle market firm.

like

Tell us what makes your classroom a happy classroom?

like

What are the best spg ski resorts? Any recommendations?

like

I’m casually interviewing, and I finished the final round for a smaller, lesser known firm recently. They want another follow up call to gauge interest. How do I tell them I’m just wanted interview practice and won’t probably even take their offer 😂. I feel bad.

like

Anyone heard of Equitable Financial? They’re trying to pitch some life insurance investment vehicle for tax benefits. Sounds like BS but want to hear from other

likefunny

Advice on how to ask to roll off a project that is affecting your mental well being?

like

Has anyone exited Sales career? Any advice on how you made that move?

like

How can I not work to live - I want 10m as fast as possible and go retire. Working for another 30 years sounds miserable

likefunny

Going to be ~5 nights short to maintain Marriott/SPG platinum status. Any options? Already have the Amex card. Thanks!

like

Just got a job offer in Dallas but only did virtual interviews because of COVID. I’ve never visited the city. Recommendations on the best area to live in for a single girl late 20s? Coming from DC where we have pretty distinct neighborhoods. I’ve been googling but it’s hard to tell which areas are more lively and better for single people.

like

I am new to RR this year. I am excited about this new journey and created this group to hear advice and tips for classroom setup, organization, and time management. Thanks to all who comment!

like

Has anyone received equity as contingency comp? I have a potential client with a founders dispute. He doesn’t have cash, and the other founder ripped him off and is now running the company. He wants to sue for equity and wants to pay me with whatever equity he wins. I’ve never done a deal like that. Is that even enforceable? CA law. The startup is actually quite promising.

like

I am sooo tired of people being inconsiderate and thinking I only work for them, when I have 5 different things that I need to get to.

like

My friend has an interview for a senior position at deloitte next week, could anyone please share how to prepare for it?

like

gender equality is great and all but god dammit what i wouldn't do to have the first day of my period off from work.

like

Anyone have experience with Sterling Background Checks? How long did it take? Trying to figure out when to put in my two weeks. No international work experience but have a couple states I’ve worked in and an internship that didn’t have a W2

like

At this point all I care about is salary what would result in your opinion most money •CFP •CPA •prestigious MBA •CFA •CAIA •coding boot camp I’m at $85k now

like

Real nerd hours: what’s your preferred zoom % in Excel?

like

Where tf is the Titanium Elite support phone number on the Bonvoy app? Been looking for 20 mins and feel like I’m going insane

like

How easy is it to switch offices (from one city to another) at your firm? Signed an offer pre-covid for an office across the country and now really wishing I could stay in place. (Start date was pushed back so I haven’t moved yet.)

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.