What’s your firm’s bonus policy? My firm pays bonuses on the Cravath scale but requires us to hit 2,000 billables (which can include 100 pro bono hours) to get it.

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

My firm’s (medium sized boutique with Fortune 100 company clients) bonus policy is not great. The maximum you can get as a junior associate is $10,000 and the max as a senior associate is $25,000. Our billable is 1800, however, we cannot bill for any pro bono or firm non-billable work (even though we are required to write legal articles monthly, attend weekly trainings, and engage in other non-billable activities). They don’t have a clear method for calculating your bonus, so a lot of office politics come into play.

like

A24: billing 1800 hrs is certainly not killing yourself... I billed 2200+ last year + did my 300 required nonbillable hrs (business development and professional development time, like a1 says about training meetings and writing articles, networking events etc). Billing 2300 is killing yourself so gotta at least get beaucoup bucks for it

Are we talking about true performance based "bonuses" what "bonuses" have come to mean, which is basically sharing profits with the "proletariat"? In either case, those firms (e. g. chapter 11 bankruptcy firms) who have profited greatly from the "pandemic" could reasonably be expected to share some of their profits; whereas those Firms who have 'taken in on the chin', but who are still operating, would not, rationally, be expected to share money they do not have (unlike the Federal Government who seems perfectly happy to print money it does not have.)

Fishbowl's system somehow 'adjusted' what I said above. And, it does not allow for editing.

Recent IconRecent

Kind of like a secret Santa without any guidelines. Bring your billable hours to the firm as a gift, and the firm will bring a bonus. But because no one set a dollar limit for the gift you might get screwed by bringing the best gift and getting clearance Halloween stuff in return.

likefunnysmart

Ok so we work together

like

Black box

likefunny

Gross

1200 hours, set dollar amount for each hour beyond 1200. Boutique firm. If I billed BigLaw hours I'd make BigLaw money...but that's not why I joined a boutique with a 1200 requirement.

like

A8 - read a recruiter email that sounded too good to be true. My wife convinced me to contact the recruiter because "worst case it's BS and you've only wasted a few minutes". One thing led to another and here I am, working from home all the time even pre-COVID. It's sort of a unicorn job; I just got lucky and had the resume/experience they were looking for.

like

At my firm, once you meet your billable requirement (1850) + 100 hours of client development, you take home 1/3 of the amount by which your dollars invoiced exceed 3 times your base salary. I really like the system.

likeupliftingsmart

Bingo

Lol. Bonuses?

likefunny

1950, no limit on pro bono

likefunny

Hello from another colleague.

like

2000, 200 of which can be pro bono/firm billable

like

Same, though only 100 of the 200 can be firm billable (all 200 could be pro bono if you want)

lol what’s a bonus.

likefunny

Cravath scale, no minimum hours target. As long as your work product is up to scratch you get the bonus. V5 firm, not NY office.

like

Think I’m at the same firm A18

like

Am law firm black box. I’m afraid to ask but what is a cravat scale bonus for 2000 hours? (As I’m about to hit 2100 and make peanuts)

like

It depends on your year. I believe last year cravath scale was 1st year =15k, 2nd= 25, 3rd = 50, 4th = 65, 5th =80, then 90, then 100. Of course actual take home is about half that

like

1900, as much pro bono as you want

like

Yes. V10

like

1850 and bonuses tend to be somewhere between 5 and 15K. Not required to exceed billable target to earn bonus.

like

$5,000 with 275,000 receivables $15,000 with $350,000 receivables

like

I recently started at a big law firm in the U.S. so I have no idea how the bonus works at this firm. I was in a big firm in Canada and bonus if you hit target (1800) was about 15-20% of your pay, but the salary is generally less in Canada.

like

How prevalent is this “black box” thing people are talking about? This many Firms really do that? I left my last firm partly because it switches to merit pay and black box around year 5, and I knew from talking to more senior associates that the black box bonuses were often lower than they made as junior associates. And that there were documented cases of gender bias in the black box system. (And this firm wonders why it can’t keep any homegrown associates past 4th year.)

like

I’ve only heard of 1 AM Law 100 firm that does this but I could be wrong

like

Our firm has guaranteed cravath bonus, regardless of hours. Bonuses above that amount based on hours, with 2000 and 2200 generally being general tipping points

like

I work for a boutique IP firm. Associates are required to bill 3 times our salary and do 200 hours of non-billable time (e.g., CLE, pro-bono, community outreach, etc.). For every dollar billed above 3X, we receive .50 as a bonus.

like

What’s your billing rate and how many hours do you end up billing annually

like

No minimum. V30. Same with my previous firm. V10.

like

2k, no pro bono requirements. Bonus is dependent on quarterly amount of hours billed over the quarter minimum. Bonuses are tiered by the amount of your avg monthly totals. Lowest bonus is 1k. Highest is 2.5k. They used to be higher but they’ve been dropped due to COVID.

like

Related Posts

If you had an offer from another company, what percent increase in salary would you need to accept the offer? (Ex: 15% above current salary)

like

Whats the average senior salary in toronto area at EY and D? Is it reasonable to expect 6 figures in either firm?

For those in a in-house position in Florida, can you please share your annual salary? Trying to get an idea of what to expect…

likehelpful

What’s a fair Digital Marketing Manager salary NYC fishies, trying to switch from agency to client side asap

Looking for details on the Analytics Advisory Specialist role… salary, work/life balance, growth, etc. please give me the scoop!!

like

Strategy& Deals Strategy. Several questions. How do they compare vs other CDD powerhouses? WLB? Comp at A vs. SA? How many years of A and SA before each promotion? Which are the best practice / vertical in terms of clients, interesting projects, and exit ops? Thank you!

like

Salary for Senior Associate at KPMG vs Manager? Location: NYC, Tech Advisory

like

How do you share your offer letter for counter offers to new company when they ask for it? Do you share the full offer letter? Or do you hide company name & other content? Or you just send them the salary breakup?

like

ACN 🐠, salary check for Applied Intelligence Manager with 8YOE? Any additional components like transport allowance, broadband reimbursement, Bonus, signon that you are aware of?

like

What’s the general comp for SC in M&A/deals analytics?

like

Hi all, hope you’re having a lovely day. Thoughts on GoodRx and Playstation? Culture, comp, etc.? Have interviews coming up. 4 yoe post-mba. Thank you.

like

Let's do a salary thread for pharma and health ad pros: Post your - Salary - Title - Years of experience. Fishbowl will circulate the data once we've reached 200 responses, so make sure to share with your coworkers.

likesmarthelpful

PWC Salesforce M1 salary if promoting? Currently at 110

like

What is EYP first year associate total comp? EY EY-Parthenon

like

Looking for suggestions on this offer with PWC : 1) Designation : Consulting Manager 2) 158k base + 15k sign on bonus 3) Location : New York City

like

I have heard that HR people earn a similar salary to that of actual consultants. How true is that?

like

CSR owner here - is there ever a situation in which it's a better deal to transfer points to hotel/airline rather than simply buy on the Chase Rewards portal with the 1.5x points bonus?

like

Average salary for a manager at KPMG in NYC ?

like

Is $130k for Accenture consultant level with 9 yoe in industry, 0 yoe in consulting asking too much? I understand there are standard salary bands for different levels but it seems crazy they wouldn’t be willing to start someone higher with so much industry experience.

like

About to resign...USDC leadership knows that I am underpaid..what to communicate to the core leadership in case they ask the reason ,i dont want to say anything about salary.🤨

like

Additional Posts

Bout to hop on a flight EWR to ORD cuz I'm hardcore craving some deep dish pizza #consultingpointsperks

like

Thoughts about Baker Tilly in LA? Do they give a pay raise in the midst of pandemic?

like

Any tips for Stryker’s Gallup interview?

like

Leaving the firm and the country. What do I do with my 401k? Any suggestions would be much appreciated. Don’t plan on returning to the US anytime soon and I’m in my late 20s.

like

Does boutique consulting offer better work-life-balance than big 4?

like

Does anyone know the rules around H4 visa? Can they still work using an EAD?

like

Anyone have insights to provide on the Strategic Solution Architect role at Olive? I was approached for the SA role and after reviewing my resume, they want to set up interviews with the SSA team

like

What's a good way to tell a potential case (that's expected to be crazy in hours and has brutal travel) that you're working on MBA apps and need a little time on weekday evenings and weekends?

like
like

What are some of the best ways to ensure clients adopt the plan provided by your team after an engagement has ended?

like

"I have no idea what it's like to have my life circumstances affected by my race or gender but listen up because I've got a really important take about discrimination"

like

Those of you who have been fired in the past, what was the reason and was it a blessing I disguise?

like

Haven’t had a raise in two years. Making $100k in SF and was just told by HR I’m “in my range.” Is it time to jump ship?

like

SAP VS APPLE, which company offers more comp for the same amount of experience (7 years)?

like
like

Frm BOS, regular 8 AM flight w/first class upgrade gets cancelled. On 9 AM flight w/10 people on the upgrade list. Check in & rqst for an upgrade. Bump every1 else down and get upgraded to 1 open seat

like

Hi. I'm a fresh MBA graduate from IIT-B with no prior work experience. This Covid has taken a toll on the opportunities for fresh graduates and I'm looking out for people who could guide me or refer me for the same. I have 9 months internship experience across marketing and operations domain and 6 months experience of running my own business which I had to close down. I've been a freelance Content writer and event organizer as well. It'd be really helpful if you could help me with this. Thanks.

Post Photo
like

How do people fund MBAs? Are they even worth doing in the U.K.?

like

Aetna or Premera Blue Cross? East-coast based if it matters.

Any book recommendations?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
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

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.