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How do you give notice in big law?
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Subject Expert
I think a similar question was asked recently, and the most popular answer (which I agree with) was that you generally don’t ask for a retention bonus outright. Instead, you give notice, and if the firm wants to keep you, a retention bonus may become part of that conversation. If the firm values you highly enough, they may even bring it up without you asking.
The timing is usually driven by developments on your current firm’s side, not the new firm’s side. In other words, you don’t typically go to your current firm asking for a retention bonus before you’ve actually put them on notice that you’re leaving.
You get offered a bonus by being well-liked and needed, but it’s usually not worth accepting in the long-term
That’s fair. Just seems like threading quite the needle to have a firm you’re willing to join and put in notice for the first but also burn the new firm and renege if your current firm offers you some cash. Compared to testing the market and seeing what your current firm thinks of you before you accept an offer.
Mentor
If they don’t offer you a retention bonus, would you stay anyway? If not then wait until after conflicts clear in case something goes sideways.
You work at Milbank or McDermott.
After you clear conflicts and are prepared to move to the new firm