Year-End Bonus Watch: Texas
Our last open thread on year-end bonuses, focused on San Francisco, generated a healthy number of comments. Like this one:
Where's the TEXAS bonus thread? Texas is definitely ahead of SF/SV when it comes to biglaw. With the various carpetbagger firms paying NY bonuses and the Bigtex firms paying anywhere from nothing to 80k, I think Texas deserves some discussion.
We're not going to get involved in the pissing contest. But we're happy to provide you with this post, in which you can discuss and speculate about law firm bonuses in TEXAS. Enjoy.
Earlier: Year-end bonus open threads for New York, Los Angeles, Chicago, Boston, San Francisco, and Washington, DC.
(22) Comments
First, just because I can.
first?
If anyone wants to see what a deceptive place Loyola is, just consider this:
On the front of Loyola's website, they include links to articles mentioning Loyola professors. On Monday, the front page had this link:
“News: Dean David Burcham was quoted in the Wall Street Journal on job prospects for law school graduates.”
Today, that link is gone, havinb been replaced with an older link.
Shame on you Loyola. Don't try to hide the truth.
What Texas firm is paying 80k bonus?
There are major rumors going around that the Houston office of Akin Gump is thinking of paying bonuses to well-performing (read 2000 hrs+) above the 50K mark...Hope that's true, could really use the money!
Pissing contest? Lat, I'm sensing some anti-Texas bias.
RE: 11:57
I HIGHLY doubt this rumor is true. Akin Gump is not a leader in salary by any means. Plus, historically, Akin Gump's largest bonuses (for the most senior associates that bill in excess of 2400 a year) are less than $50k. With the recent pay raises, I would seriously doubt Akin Gump will pay ANY bonus to associates billing only 2000 hours, much less bonuses that are larger than the largest bonuses the firm has paid historically to its top performers.
That 80k firm would be Susman Godfrey, except sometimes they pay even more than that. I'm sure its not that great though, that crazy-high cost of living and state income tax take up most of it.
Here at the Austin office of Clark, Thomas & Winters, management has announced bonuses of $30,000 to $75,000, for all but a few associates.
80K in a mediocre year.
Texas to 190k!
I agree with Bush! (First time ever spoken)
Texas to 190! so it will push NY to 200!
nothing in texas but steers...
What about Atlanta....it's at least as big of a legal market as some of the other threads you have done. Lat, you should at least do a bonus thread for each city you did a recruiting thread.
Texas Motherfuker Is Where I Stay
There is no need for an ATL bonus thread because the bonus structure there is so simple. For everyone billing less than 2400 hours, nothing. For everyone billing more than that, you get to keep your job, a pitiful 5k bonus. An a salary increase of MAYBE that much next year.
1:37, there have been bonus threads (one per day) for NY, LA, Chi, DC, SF/SV, Boston and now TX. Atlanta should be up next, then perhaps FL, Denver/Rocky Region, and the Northwest. Lat seems to be going in the correct order.
By what measure is Atlanta "at least as big of a legal market as" NY, LA, Chi, DC, SF/SV, Boston or TX?
"I'm sure its not that great though, that crazy-high cost of living and state income tax take up most of it."
I hope you're being facetious. I'm considering moving to Texas because of the high cost of living here in NYC.
4:00, Texas has one of the lowest costs of living AND no state income tax. Or did I misunderstand you and 12:09?
how are bonuses at hunton and williams?
4:00... of course 12:09 was being facetious.
Since it sounds like you're not familiar with Texas, let me put it to you in NYC terms: 'making 160k' is to 'Texas' what 'being an investment banker' is to 'NYC'.
Or, put another way: down here we work less and still don't need roomates and a metrocard.
Or, I'm sorry, maybe it's better put like this: facetious.
We do not have state income tax AND we have awesome highways. Although I did spend 40 min in traffic this morning drivign 15 miles. But am going to make $160 and live in my 2000 sq ft house that I bought for $176k...so definitely could be worse...