Let's cut to the CHASE (sorry, I'm a Phillies fan). (No, I don't care if we are behind. I don't care if we lose. I didn't say phan simply because I don't need that level of harassment at this time of the morning.)
What is happening with bonuses this year? Is your firm giving them out like usual? Are they entirely performance-based? Entirely discretionary and, therefore, probably not likely? Available only if you can perform a select group of tasks, which includes capturing a live baby unicorn for your boss's tween daughter?
Is thinking about this topic making your stomach hurt? Are you going to write [more] hateful things [than usual] in the comments because I am the spawn of Satan and I should be thankful I have a job in this economy and I am the picture of greed?
As usual, we understand that you want to keep it anonymous, but if you are willing to be bold, please include some basics about your firm. Big firm, little firm, type of work, basis of bonus, etc. (If my firm gave bonuses on beautiful blonde hair and pet cuteness, I'd be a millionaire.)
Bonus = Still Employed
ReplyDeleteStill too early to tell. Waiting on some collectibles, but think it is going to be better than the bloodbath everyone was expecting. Certainly better than last year.
ReplyDeleteDon't have a clue: meaning, 1st year @ this firm; entirely grateful to have a job; and, any *bonus* money would be icing on the cake of loving what my life has to offer currently.
ReplyDeleteMe thinks a better time for this inquiry is after people have actually gotten something or not in their pockets.
However, I know at my former firm, there are no bonuses, even performance and everyone took at least a 10% pay cut. Glad to be out of there.
I have given up on the entire bonus concept. I always hear about lawyers that get big year end bonuses, but I have never received a bonus that exceeded one paycheck at any firm I've worked for. One year I billed over 2100 hours and got a small bonus because the firm had not collected from the two biggest clients yet; I was told that the clients would pay in January and it would go to next year. The clients paid, I got laid off, the firm kept the money. Classy.
ReplyDeleteI'll never bill a minute over the minimum ever again.
@ 9:09 - Bingo.
ReplyDeleteMedium sized firm: expecting $15k bonus and hoping for $10k raise, but will more likely get a $5k raise.
ReplyDeleterumor is that blonde and cute gets much better bonuses in other employ
ReplyDeleteI would like the name of any firm doing well enough to give bonuses . . . so I can apply.
ReplyDelete~40 Attorney Firm. Vast majority of bonus is based on hours and receivables - set formula, no discretion. I expect to hit my minimum hours and collect the small bonus that comes with that, and have already exceeded my minimum receivables. All in all, expect to get a bonus of about $4K pre-tax.
ReplyDeleteH&H paid bonuses in September. Less than half of the associates were bonused this year, but the bonus range was about the same as 2008.
ReplyDelete7:19 totally vindicated my prior post!
ReplyDeleteWho is H&H?
holland & hart
ReplyDeleteI think a lot of the medium to larger firms are doing better than their managing partners want to let on. I got a good bonus last year at my regional, fairly large firm, and expect the same bonus again this year, having exceeded my billable hours requirement by a significant amount. But our bonus is part discretionary, part set based on the amount of hours over the minimum. So I know I can expect at least about $12K, and hopefully more like $15-$20K based on the discretionary part. For the amount of hours I've put in, it would be criminal of them to not reward me. I've been practicing for over 3 years now.
ReplyDeleteIn response to the first anon who said "bonus=still employed," this mentality is exactly what your bosses want you to think. Don't be so naive. Yes, I'm thankful to have a job but my employer should also be very thankful to have me. I've made them lots of money this year.
10:56 - "I'll never bill a minute over the minimum ever again." You are right that your old firm may have treated you poorly, but it's YOUR career. Ultimately, what you are paid is dependent on what other people, be they your clients or your firm, think you are worth. Make yourself more valuable, and you'll get more money. Treat your job like a job at Starbucks, and you'll be treated accordingly by everyone.
ReplyDeleteWhat is Judge Miley's bonus?
ReplyDeleteI have no idea what bonuses will look like this year... but I think we can all report on:
ReplyDeleteholiday parties!
Same plans as usual at your firm? More/less booze?
Small firm. We are bonusing this year about the same as last year. The business has not slowed; the A/R just has to be watched much more closely. However raises are being scuttled for more performance based compensation.
ReplyDeleteWe are still on a bonus plan based upon our collectibles, but the threshold has been raised, making it more difficult compared to a year ago. I just demand a higher retainer and keep on the A/R.
ReplyDeleteDoes it bug anybody but me when partners lavish rewards on themselves at year end and give their employees a bonus of only one paycheck or less?
ReplyDelete9:38: Drop the commie horsecrap, comrade. If you want to lap the cream, whip the milk.
ReplyDelete9:38,
ReplyDeleteDoes it bug anybody but me when associates retain their lavish salaries at year end and give no consideration to whether the partners who sign the paychecks had a terrible year and made little-to-no profit on the associates in question?
Start your own firm!
9:38,
ReplyDelete"only one paycheck"....Boo Hoo
you know where the door is...
I missed several paychecks this year in order to keep my associates employed at their super inflated salaries. Hearing some of your comments makes me regret that and wonder if I shouldn't have let them go instead. Even though my associates don't know a thing about my lack of pay for months, I hope they know I have their back and will bonus what I can and what is fair. If I ever thought my associates acted like some of you punks, I would fire them in a minute
ReplyDelete