Does anyone know if the bonus pools available for associates and of counsel are close to the same? In other words, if you hit your bonus goal, would your bonus be bigger as an associate or of counsel?

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Not from what I have heard. Counsel really is second class to associates in terms of pay at my firm, DESPITE the fact that counsel is usually significantly more experienced than associates.

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It’s usually just different.

Counsel has lower hours target, similar base to the most senior associates, and more flexibility and autonomy.

Bonuses are usually super discretionary and may be nothing. But, that’s bc a lot of them are part time anyway, so there’s no “ring the bell” bonus for hitting 1500 hours.

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At my firm, counsel is a stepping stone to partner. Base pay is a bit above top of associates and bonus is a bit lower. First couple years of counsel can end up lower than associates if there are any special bonuses for associates.

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It sucks if your goal is partnership, but it’s not so bad if you can minimize bus dev and coast. I basically just help with pitches and sometimes attend meetings with existing clients. If I can last 9 more years and my spouse maintains their income, we can FatFIRE.

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Counsel will usually make what senior associates do or one imaginary rung higher on the lockstep scale with respect to salary and maybe bonus. How that shakes out in practice:

- senior associate: $435k salary + $115k bonus
- counsel: $450k salary + $125k bonus

I made slightly more as counsel at my old firm but was treated no differently than a senior associate and was pushed out. Now I make the same as a senior associate and have the same hours target, but there is more work and camaraderie and the team respects me. I’m happier now than I was before.

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I get the same bonus as associates but my base is higher by a token amount (after I threw a fit).

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Of Counsel typically don't have the same requirements as associates (they have less) since they invariably haven't made partner. So, their bonuses will 9/10 be less.

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Some counsels used to be a partner and are aging or scaled back. They might also be on their way to partner. It just depends on the person.

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At my firm, lower pay and lower bonus for Counsel. I make around a 3-4th year Associate (Cravath scale) salary with 16 YoE. No clue on bonus yet.

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Ah. I’ve already been partner. I was counsel before and after partner…. the title can mean so many different things!

Part time is billing about 1450 now

At my firm, anecdotally from what I’ve heard from counsel, they make about 5-10% more than senior associates.

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It really depends. I know one of counsel who has a crazy low billing requirement of 1500, but for all realized hours over that, he gets 40% of his billable as a bonus.

Counsel can mean just about anything, but I know a few firms that have counsel comp. slightly above 8th year comp but bonus is 100% discretionary.

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