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Author Topic: BigLaw Bonuses  (Read 2809 times)

Bored 3L

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Re: BigLaw Bonuses
« Reply #10 on: January 28, 2007, 12:05:15 PM »
Did Kirkland officially up to $160?  If so, as far as I know, it'd be the first Chicago non-Skadden firm to do it.

I haven't heard anything about Kirkland.  Given its bonus structure, Kirkland has pretty consistently been above the market in total compensation.  I hear it's a terrible place to work though.

UChi2L

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Re: BigLaw Bonuses
« Reply #11 on: January 28, 2007, 05:39:13 PM »
New bonuses came out about a month ago and they're pretty ridiculous ... I think they'll announce soon.  Almost all the big NY firms are up to $160 (and some of the medium ones, too) ... LA caught the bug next and now DC is upping to at least $145.  Things should settle in mid-Feb.
I have to believe in a world outside my own mind. I have to believe that my actions still have meaning, even if I can't remember them. I have to believe that when my eyes are closed, the world's still there. Do I believe the world's still there? Is it still out there?... Yeah.

sarbinson1

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Re: BigLaw Bonuses
« Reply #12 on: February 24, 2007, 06:15:04 PM »
New bonuses came out about a month ago and they're pretty ridiculous ... I think they'll announce soon.  Almost all the big NY firms are up to $160 (and some of the medium ones, too) ... LA caught the bug next and now DC is upping to at least $145.  Things should settle in mid-Feb.
How high do you mean by ridiculous?  Any specific numbers?  I'm hoping 175,000 will be standard at the big Chicago firms by 2008.

UChi2L

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Re: BigLaw Bonuses
« Reply #13 on: February 24, 2007, 06:44:27 PM »
New bonuses came out about a month ago and they're pretty ridiculous ... I think they'll announce soon.  Almost all the big NY firms are up to $160 (and some of the medium ones, too) ... LA caught the bug next and now DC is upping to at least $145.  Things should settle in mid-Feb.
How high do you mean by ridiculous?  Any specific numbers?  I'm hoping 175,000 will be standard at the big Chicago firms by 2008.

$175K?!  Maybe if you mean gross salary + bonus at 2400 hours ...

Right now the highest bonuses at 2400 hours are Mayer and Kirkland (both around $50K), but many other good firms in the city have bonuses that range from 10% of salary (Jenner) to $20-$30K (Skadden) in that range of hours (read: in exchange for killing yourself).  As for salary, the Standard for Chicago BIGLAW (with Baker and McGuireWoods holding out, if you can call MW biglaw) is $145K.  Bonuses are all over the board.  There's no way that Chicago BIGLAW standard salary will hit $175K until at least four-six years from now.
I have to believe in a world outside my own mind. I have to believe that my actions still have meaning, even if I can't remember them. I have to believe that when my eyes are closed, the world's still there. Do I believe the world's still there? Is it still out there?... Yeah.

sarbinson1

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Re: BigLaw Bonuses
« Reply #14 on: February 25, 2007, 04:22:41 PM »
New bonuses came out about a month ago and they're pretty ridiculous ... I think they'll announce soon.  Almost all the big NY firms are up to $160 (and some of the medium ones, too) ... LA caught the bug next and now DC is upping to at least $145.  Things should settle in mid-Feb.
How high do you mean by ridiculous?  Any specific numbers?  I'm hoping 175,000 will be standard at the big Chicago firms by 2008.

$175K?!  Maybe if you mean gross salary + bonus at 2400 hours ...

Right now the highest bonuses at 2400 hours are Mayer and Kirkland (both around $50K), but many other good firms in the city have bonuses that range from 10% of salary (Jenner) to $20-$30K (Skadden) in that range of hours (read: in exchange for killing yourself).  As for salary, the Standard for Chicago BIGLAW (with Baker and McGuireWoods holding out, if you can call MW biglaw) is $145K.  Bonuses are all over the board.  There's no way that Chicago BIGLAW standard salary will hit $175K until at least four-six years from now.
We'll see- rumor has it NYC firms will be paying 190 by 2008, I would think that puts Chicago close to 175 pre-bonus.

UChi2L

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Re: BigLaw Bonuses
« Reply #15 on: February 25, 2007, 07:40:36 PM »
New bonuses came out about a month ago and they're pretty ridiculous ... I think they'll announce soon.  Almost all the big NY firms are up to $160 (and some of the medium ones, too) ... LA caught the bug next and now DC is upping to at least $145.  Things should settle in mid-Feb.
How high do you mean by ridiculous?  Any specific numbers?  I'm hoping 175,000 will be standard at the big Chicago firms by 2008.

$175K?!  Maybe if you mean gross salary + bonus at 2400 hours ...

Right now the highest bonuses at 2400 hours are Mayer and Kirkland (both around $50K), but many other good firms in the city have bonuses that range from 10% of salary (Jenner) to $20-$30K (Skadden) in that range of hours (read: in exchange for killing yourself).  As for salary, the Standard for Chicago BIGLAW (with Baker and McGuireWoods holding out, if you can call MW biglaw) is $145K.  Bonuses are all over the board.  There's no way that Chicago BIGLAW standard salary will hit $175K until at least four-six years from now.
We'll see- rumor has it NYC firms will be paying 190 by 2008, I would think that puts Chicago close to 175 pre-bonus.

I HIGHLY doubt that.  Before 2000, salaries were at $75K in Chicago.  In 2000, they jumped to $125K.  It took till 2006 to get to $135K and now, in 2007, they're at $145K.  That would be a pretty ridiculous jump to go up $50,000 more dollars in one year.
I have to believe in a world outside my own mind. I have to believe that my actions still have meaning, even if I can't remember them. I have to believe that when my eyes are closed, the world's still there. Do I believe the world's still there? Is it still out there?... Yeah.