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Hi all,
I just came to realise Deutsche Bank has a fixed rule of max 30 to 35 % hike on fixed component and remaining 10 to 15% variable i.e. total 50% max hike you can ask for no matter how good, skilled you are.
Is it true?
(I got to know this when an HR called me for a Frontend developer role)
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Check the other recent thread on this. Some firms have a bit of a buffer or will consider super close calls (sub-50 off) on a case by case basis. Some firms have a hard line. Ask around in your firm, or your attorney development coordinator would know.
I did as a first year and was almost 100 hours below target. I know other first years were even farther below and received full bonus. But I’m not sure if that’s changed with the high commercial pace across the board this year and/or when you’re no longer a first year
Firms with bonus targets have them for a reason.
If you’re a star associate, shouldn’t you have gotten enough work to hit your minimum billables?
OP here. I’m in an Asian office and lateraled over in the middle of the pandemic so things might be a bit different. FWIW, I’m asking because I’m a mid level and I’ve actually always gotten full bonuses even though I’ve never once hit my billables. I think things might start to change this year though…
HK
I have been worrying about the same thing. My firm has a collections goal (no bonus if unmet) and an hours goal (unclear if unmet). They raised collections goal half-way through the year which skyrocketed my collections goal. My firm gives credit for pro-bono. I was left in the position of doing a large amount of pro bono to meet collections or make my hours goal. I missed my hours by 30. I hope there is some leeway this year, because the firm basically set me up for this.