If you were lateraling because your current firm isn’t a good cultural fit and your top choice asked you to drop back a class year or two—would you consider it? And what, if anything, would you ask for in exchange?

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

Yes. A firm that’s a better cultural fit.

like

It’s very common to take a year back (a “haircut”) when lateraling. Maybe a signing bonus to close the gap between years but otherwise I wouldn’t expect anything in exchange.

like

If you're in the middle of your current firm's financial year, I think it's reasonable to ask for a signing bonus equal to the bonus you're leaving on the table if you're on track to earn it. Depending on your level, it could be a variety of reasons-- everyone has a ramp up period and it's helpful to be at a lower billing rate as you're ramping up, promotion timeline, training pipeline constraints. I dropped a class year when I lateraled and it was helpful to me to be a strong third year over a weak fourth year (big jump in expectations and billing rates between those years).

like

Full year end bonus being part of the comp package when moving mid year is pretty standard in Biglaw and mid. Signing bonus is on top depending on market, firm needs, and value of the lateral.

Yes, it gives you a longer run way, your income will jump back up quickly, and you don’t ask for anything in exchange. That said if you can try to get a non-prorated bonus that is maybe a reasonable ask.

like

Why are they asking for a year cut? I was asked to drop two class years for review purposes because I changed practice areas when I moved to K&E but they continued to pay me at my actual class year.

like

Does any other firm do this besides KE? I think this is a great compromise.

like

Depending on your year, your goal, and whether it is a true better fit. The firm cuts your year usually has a higher ranking (tier) but not necessarily a better culture.

Related Posts

I currently work in Private (GA) Aviation & have for some time (about 12 years) I’m currently making the switch to the Department of Aviation and am unsure if I should ditch my current job (in private) and go full force with the DOA & embrace this new opportunity educationally and gather as much experience as I can or keep both jobs even though I’d be working 80hr weeks.. I love the private world but am really ready to move up. I don’t know what I should do. Any suggestions?

like

Does anyone know any apartments with good lease break terms or non exorbitant short term lease prices? Moving to Nova and hoping to buy a place in 3-6 months after renting

like

Hello,

I have done my cyber security certificate CISSP with 9+ yrs exp can anyone tell me how can I move in to that role and how much salary I can expect l.
Thanks in advance !

like

Working as a regional business development manager at an interior designing company based in Kerala. Looking for opportunities in other sectors and cities.

like

Hi my firm recently laid me off with many because they had to close our project as they had no funds left.
Yesterday was my last day
I am a Network Service Operations Associate with 1 year of experience in customer service
Would like to get into a Project Management roles.
Any leads would be very useful.
Thanks!

like

Men - boxers, briefs or trunks?

Where are you in your own path to parenthood?

like

Hi. Can anyone suggest decent and hygienic tattoo places in Gurgaon/Delhi NCR? Any small/minimalist female tattoo suggestions are also appreciated.

like
like

#Heardle #14

🔊🟩⬜️⬜️⬜️⬜️⬜️

Anyone have experience in raising capital out of the Middle East (Jordan, Kuwait, SA)? Any experience in delivering solutions in that area? I am trying to figure out if a pursuit in that area is to much of a risk. Any insight is appreciated.

like

I’ve been in the banking industry for about 5 years now since I graduated and I feel like this may not be the right industry for me. I have experience in commercial banking and commercial real estate lending. Where do people go after they leave banking? I’m trying to see how I can transfer my skills to another field.

like

Which firm do you dislike working with the most and why?

like
like

Hey freelancers! What would your rate be in a senior designer contract role at a /big/ tech company? Hourly/ day rate?

like

What’s the total comp for Principal at BCG? base + bonus etc. Searched online and on the bowl but no clear answers. Are there different levels to
Principal and how does the comp change across levels?

like

How is EY’s SAP practice? Overall, so they focus more on new implementations (S/4) or auditing existing ones? How is the overall company focus on growing the SAP practice?

How many of you go to networking events mostly to date?

funnylikesmart

Question for folks at Microsoft. With the whole increase in investing in their people what we’re non promotion raises like this past month or so or whenever they recently were?

like

Hi everyone,
Does the gap of one month will affect job opportunities or interview calls for IT jobs especially in current market scene?

Additional Posts in Big Law

When should a stub start getting worried about not having much work and low billable hours?
I’ve asked for work but no luck. I know they say this is normal for a stub but when should I start getting worried and consider looking for exit options? Fyi, I like my practice group, so I don’t want to change to a different group within my firm, hence would have to lateral, if I have to. Also, other co-1st years are churning in high hours.

like

Best backup plans if you get fired from a Big Law firm within a year or two after graduating? Go to a non-BL firm and then try to lateral back into BL?

like

1st yr at a nyc v50 firm doing general transactional work. I know the lateral market for transactional lawyers is hot but not as hot for juniors. I just want a change of scenery because my current firm is bleeding good associates / not giving great training imo / and just seems small. Would lateralling this early feasible? Would it look bad on my resume?

like

How much actual court experience should a junior litigator expect to get in the first year? I've been my firm 6 months as a civil litigator not and have yet to go to a hearing. There have been a few (all relatively minor) but each time the partner tells me it's not important enough for me to attend. As a junior, I feel like I need to learn and no hearing is to minor. How else am I supposed to learn?

like

Has your firm restored your pay? Is it worth considering jumping to another firm that is going to pay you what you’re worth? Don’t know about the rest of you, by my student loan interest rates aren’t getting any lower.

like

Looking for some encouragement. Has anyone here received an overall negative performance review or has been put on a development/performance plan and was able to turn things around for the better?

like

Tips on remote interviewing? Lateraling and this is my first one coming up. Kinda nervous since I haven’t done an interview in years.

like

How do I tell a firm I screened with that another firm I screened with is moving forward with full rounds? I would prefer the former firm, even though the latter firm is ranked higher. Thanks for any advice

like

Anyone here a GC/assistant GC at a biglaw firm? How are the hours? Who’s hiring?

like

I moved from construction to coverage and I absolutely loathe the work. Is it unreasonable for me to want to enjoy the work I do?

helpfulfunny

Some recruiter just called my mobile, sneezed and hung up.

I am getting sick of these cold calls.

funnylike

PROPOSAL: Can we start naming names with respects to layoffs, furloughs, and pay cuts? Knowledge is power, and the only ones who benefit from vague exchanges of info. are the employers. Thank you!

likehelpful

Investment advice for a junior associate (with minimal research or effort). Young with minimal expenses, so open to any and all suggestions.

like

People who were lateraling without being on track for hours and seeking the year and bonus with the new firm, did the question of hours come up and how did you handle it during interviews to make sure you got the bonus from new firm?

like

Kasowitz Benson - what is your opinion of them?

like

Boomer. I am in between jobs. Laid off in 10/21 after 16+ yrs, with an ABA firm. RIF. Still on excellent terms. Took my time living off generous package and didn’t seriously start applying until 01/22. Made a rookie mistake and accepted first offer.
Turns out job wasn’t as advertised. Mutual parting of ways 3/22. Due diligence is critical.
Now interviewing a LOT. Some temp work, I still have “it”. I relate to all gens. Willing to mentor AND learn from all. Tech savvy, CTE from day one. Leads?

like

Anyone else super unimpressed with administrative support with a new firm after lateraling? I told a partner I’d just take care of a routine task myself. He told me my rate is too high and to use a “project manager” (basically an intern they can pay less than a paralegal). We have a 40 person group and 3 project managers making starvation wages. Big firm. You’d know the name.

like

Any Atomic Habit readers here? I’m brainstorming identity-based habits for two things I want to change:

-I want to bill more hours, so my goal is to become the type of person who bills at least 8 a day
-I want to drink less alcohol, so my goal is to become the type of person who drinks occasionally

Neither of these feel that helpful. Any one have suggestions for other identity-based goals that get at these changes I want to make?

like

Does your firm let you take 28-30 December off? Many of my team members won’t be working those days and I decided last minute that I’d like to travel somewhere between Christmas and the New Year.

likehelpful

Very Noob question: First year here that has done DD for a couple of deals representing the seller now. Essentially all I did was note whether certain agreements have change of control provisions, and if so, what the specific language is. I understand what the CoC do, but why am I doing this? Specifically, what does the buyer do with this? It seems like these provisions should trigger but nothing then happens...

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
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

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal