How does your firm view P&Ls at associate and partner levels? How's it affect your bonuses/raises? What's on your loss side? I'm getting the impression my current firm is outside the norm and using it to eliminate bonuses/raises across all levels.

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The firm’s overall profits dictate the size of the associate and non equity bonus pools. The associate’s overall profitability plays into the bonus assessment—eg people with more billable work tend to get higher bonuses than people on contingent cases that haven’t paid out yet. That being said, we aren’t penalized for losses per se, just rewarded for profits.

We're penalized for losses at every level. Doesn't matter if you're a first year or a partner, you get handed a P&L with the firm's entire overhead counting against you.

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