Associate Bonus Watch: Morgan Lewis's Non-Announcement
Where have all the bonus announcements gone? Have firms stopped issuing them? Or have you stopped sending them to us? For information about the many ways you can submit bonus memos to us, see here.
In the meantime, we bring you another bonus non-announcement, similar to those previously issued by Kirkland & Ellis and McDermott Will & Emery. This one is from Morgan, Lewis & Bockius.
Check it out, after the jump.
MORGAN, LEWIS & BOCKIUS -- MEMORANDUM RE: YEAR-END EVALUATION PROCESS
Update: Originally we posted an excerpt from the memo. Shortly after we put up our post, we received the whole thing. Here it is, in its entirety.
From: Michelle Martin [Legal Personnel Partner] and J. Gordon Cooney [Chair of the Legal Personnel Committee]Our tipster's take:Re: Year-End Evaluation Process and Attorney Compensation System
Date: November 12, 2007
We hope that the new fiscal year is off to a good start for you and want to thank you for your hard work last year. As we begin a new year and come to the heart of the annual Year-End Evaluation Process, we thought it would be helpful to review some of the changes in the compensation system occurring over the past year and to answer questions a number of you have raised in recent weeks.
First, as you know, we increased attorney compensation in certain of our domestic offices last February and again in June in response to market developments. Although we did not make adjustments in all offices, we will take the overall increases into account when making individual year-end compensation decisions in those offices.
Second, in those offices where we announced base-compensation increases (i.e., the California, Chicago, Minneapolis, New York, and Washington D.C. offices), we also formalized and announced what at the time was already a practical reality -- that the target for our Of Counsel and Assoicates in those offices for FY 2007 and beyond would be 2,000 billable hours (including pro bono hours). In those offices where we did not adjust base compensation in June (i.e., the Dallas, Houston, Miami, Philadelphia, Pittsburgh and Princeton offices), the target for FY 2007 remained 1,975 billable hours, but will be 2,000 billable hours for FY 2008. An Of Counsel or Associate must meet the Firm's billable hours target to be considered for a performance bonus at the end of the year. Because most of our Of Counsel and Associates generally meet or exceed 2,000 hours, this change should impact very few of you.
We believe that satisfying this benchmark should not be a goal unto itself. The nature of our practices and our commitment to client service make it impossible to calibrate one's professionalism to produce a billable year that ends neatly once a "target" has been achieved. Cases, transactions and other matters have their own pace and pulse, and serving our clients when and as they need us is the very essence of professionalism generally, and of the Morgan Lewis culture specifically.
Third, a number of you have inquired about the timing of this year's bonuses and the amounts to be awarded. The Firm will continue to pay performance bonuses at the end of December. Individual bonus awards will be determined during the next several weeks and again will be based on the quality of an attorney's work, his or her level of industry, achievement of outstanding results, personal sacrifices on behalf of the Firm or its clients, Firm citizenship, and prevailing market conditions.
We realize that FY 2007 was a year of many changes in the compensation area, and we appreciate the constructive manner in which so many of you approached the discussion. We encourage you to contact us, any other member of the Legal Personnel Committee or your local Practice Group Leader if you have any questions or would like to discuss these matters further.
J.G.C., Jr.
M.E.M.
This means two things: (1) there will be no MLB bonus memo, and therefore they will not match bonuses levels in New York or anywhere else; and (2) most or all associates can expect to get screwed (again) with respect to bonuses.
We're guessing this didn't satiate your appetite for bonus news. Well, join the club. This is why it's so important for you to contact us as soon as you do have real news to report. Thanks.
Earlier: Associate Bonus Watch: An Open Call for News and Memos
(90) Comments
Was the typo really in the original e-mail? Why no spell check?
Also, first.
What typo?
Does the NY BOLE give advance notice of the day/time that results come out, or just throw it up on their web page and let internet chatter or shrieks of joy/dispair from law firms spread the news?
wow, mlb blows with the bonuses huh. did their nyc office pay market before this year? I know in Philly their payscale is seriously compressed and the bonuses are pretty bad.
"repsonse"
10:02 wrote "Was the typo really in the original e-mail? Why no spell check?"
The answer is so d-bags like you have somthing to do. You should have posted something worth reading, llike..... FIRST
I second 10:04's question. Will NY BOLE warn us or do we just get blindsided with the results?
Philly comp sucks!!!! I'm dying here. (And yes, I got offers from NYC V10 firms, but I foolishly went hook line and sinker for the QOL garbage.)
The typo was not in the original email. The email was sent not allowing copying, printing or forwarding (I assume the associate who submitted it to ATL retyped the text which resulted in "repsonse".
"the complete memo... was sent out in a format designed to preclude copying or forwarding"
What coudl this be? Was it written with a "magic" Crayola marker (the one that doesn't show up unless you draw on it with the another "magic" marker)??
Crayon on construction paper? Chalk on blackboard? Yells down the hall? Or... perhaps the firm chairman just went around a punched everyone in the face Mr. T style with brass knuckles that said "NO BONUS"?
It looks like Lat fixed the typo in "repsonse" to the comments.
Nice work...how do you say so much without saying a thing. "Blah Blah Blah... (x 2 pages). In conclusion, we have nothing to say and you know nothing more now than an hour ago when you began reading this worthless memo that we wasted 5 otherwise billable hours preparing Regards, Management."
Why not just say: "We had a shitty year and we need to find the breaking point at which we can underpay you without losing face or too many associates."
Attention ATL Readers:
LET US CONVERSE ABOUT THE D.C. OFFICES OF CHICAGO-BASED FIRMS.
Sincerely,
Associate in a D.C. office of a Chicago-based firm
NYC Bonus List of Shame
2008 Vault Rank / Firm / 2006 RPL
1
2
3
4
5
6
7
8 Latham & Watkins LLP / $920,000
9
10 Covington & Burling LLP
* 11 Kirkland & Ellis LLP / $1,035,000(Punted)
12
13
14
15 Wilmer Cutler / $890,000
16 Williams & Connolly LLP / $955,000
17 Sidley Austin LLP
18 Gibson, Dunn & Crutcher LLP / $1,050,000
19 O'Melveny & Myers LLP
20
21 Arnold & Porter LLP / $855,000
22 Jones Day
23 Morrison & Foerster LLP
24
25
26 Cadwalader, Wickersham & Taft / $1,000,000
27 Hogan & Hartson LLP
28 Mayer, Brown, Rowe & Maw LLP
29
30 Ropes & Gray LLP / $855,000
31 Paul, Hastings, Janofsky & Walker
32
33 Akin Gump Strauss Hauer & Feld LLP / $840,000
34 Winston & Strawn LLP
35
36 Wilson Sonsini Goodrich & Rosati
37 Linklaters
38 Orrick, Herrington & Sutcliffe
39 Freshfields Bruckhaus Deringer LLP
40 Proskauer Rose LLP
41. King and Spalding
* 42. Morgan, Lewis & Bockius (Punted)
43.
44. Baker & McKenzie
45. Baker Botts LLP
46. Boies, Schiller & Flexner LLP / $980,000
47. Munger, Tolles & Olson LLP / $1,025,000
48. Dechert LLP
49. Irell & Manella LLP / $1,050,000
* 50. McDermott, Will & Emery / $875,000 (Punted)
51. Jenner & Block LLP
52.
53. Allen & Overy LLP
54. DLA Piper
55.
56. Fish & Richardson P.C.
57. Fulbright & Jaworski LLP
58. Pillsbury Winthrop Shaw Pittman LLP
59. Goodwin Procter LLP
60. Cooley Godward LLP
...
67. (Kaye Scholer Matched w/ Performance Reqs.)
92. (Kramer Levin Matched w/ Perf. Reqs.)
NR. McKee Nelson (Failed to Match)
BONUS STATUS BY 2006 RPL
Rank 2006 in revenue
by revenue Revenue per lawyer
-------------------------------------------------------------------------------
1 Wachtell ABOVE MARKET $2,455,000 2.5%
-------------------------------------------------------------------------------
2 Sullivan & Cromwell MARKET & ABOVE MARKET FOR SENIOR ASSOC. $1,565,000 1.3%
-------------------------------------------------------------------------------
3 Wiley Rein $1,520,000 162.1%
-------------------------------------------------------------------------------
4 Cravath MARKET $1,355,000 5.9%
-------------------------------------------------------------------------------
5 Davis Polk MARKET $1,200,000 4.8%
-------------------------------------------------------------------------------
5 Simpson Thacher-MARKET $1,200,000 6.7%
-------------------------------------------------------------------------------
7 McKee Nelson BELOW MARKET $1,190,000 1.7%
-------------------------------------------------------------------------------
8 Milbank, Tweed MARKET $1,110,000 10.4%
-------------------------------------------------------------------------------
9 Skadden MARKET $1,095,000 10.1%
-------------------------------------------------------------------------------
10 Cahill Gordon MARKET $1,075,000 8.6%
-------------------------------------------------------------------------------
11 Fragomen, Del Rey $1,070,000 26.6%
-------------------------------------------------------------------------------
12 Gibson, Dunn $1,050,000 4.0%
-------------------------------------------------------------------------------
12 Irell & Manella $1,050,000 9.9%
-------------------------------------------------------------------------------
14 Kirkland & Ellis PUNTED $1,035,000 5.1%
-------------------------------------------------------------------------------
14 Paul, Weiss MARKET $1,035,000 0.5%
-------------------------------------------------------------------------------
16 Munger, Tolles $1,025,000 18.5%
-------------------------------------------------------------------------------
17 Quinn Emanuel $1,020,000 28.3% SLIGHTLY ABOVE MARKET BUT PARTIALLY DEFERRED
-------------------------------------------------------------------------------
18 Shearman & Sterling MARKET $1,010,000 2.0%
-------------------------------------------------------------------------------
19 Debevoise & Plimpton MARKET $1,005,000 8.6%
-------------------------------------------------------------------------------
20 Cadwalader BONUS ANNOUNCED, NO $ FIGURES $1,000,000 6.4%
-------------------------------------------------------------------------------
21 Boies, Schiller $980,000 3.2%
-------------------------------------------------------------------------------
21 Weil, Gotshal MARKET $980,000 2.6%
-------------------------------------------------------------------------------
23 Cleary Gottlieb MARKET $975,000 7.1%
-------------------------------------------------------------------------------
24 Willkie Farr MARKET $970,000 12.8%
-------------------------------------------------------------------------------
25 Williams & Connolly $955,000 2.7%
-------------------------------------------------------------------------------
26 Finnegan, Henderson $945,000 11.2%
-------------------------------------------------------------------------------
27 Townsend and Townsend $940,000 6.2%
-------------------------------------------------------------------------------
28 Fried, Frank $930,000 MARKET 4.5%
-------------------------------------------------------------------------------
29 Schulte Roth $925,000 6.9%
-------------------------------------------------------------------------------
30 Latham & Watkins $920,000 5.1%
-------------------------------------------------------------------------------
31 Wilmer Cutler $890,000 5.3%
-------------------------------------------------------------------------------
32 McDermott Will PUNTED $875,000 12.9%
-------------------------------------------------------------------------------
33 Kaye Scholer MARKET WITH POSSIBILITY OF MORE & PERF. REQS. $865,000 7.5%
-------------------------------------------------------------------------------
34 Arnold & Porter $855,000 4.9%
-------------------------------------------------------------------------------
34 Ropes & Gray $855,000 1.8%
-------------------------------------------------------------------------------
36 Choate, Hall $850,000 10.4%
-------------------------------------------------------------------------------
36 Kramer Levin MARKET W/ PERF. REQS. $850,000 6.3%
-------------------------------------------------------------------------------
38 Heller Ehrman $845,000 5.0%
-------------------------------------------------------------------------------
39 Akin Gump $840,000 7.7%
-------------------------------------------------------------------------------
40 Hughes Hubbard $835,000 12.1%
Not listed: Dewey (Market with hours requirement)
Clifford Chance (Market)
White & Case (Market)
Morgan Lewis (Punted)
Bonus List of Shame
by NY Attorneys (Source: Crains)
1)
2)
3)
4)
5)
6)
7)
8)
9) Sidley Austin
10) Proskauer
11)
12)
13)
14)
15) Schulte
16) Wilson Elser
17)
18)
19) Latham & Watkins
20)
21)
22)
23)
24)
25) Greenberg Taurig
------CHICAGO------
Dear Associate in a D.C. office of a Chicago-based firm:
McDermott, Kirkland, and Jenner each attract top-notch candidates in their District of Columbia offices. They will want to continue to do so, and, consequently, will continue to pay whatever the "market" is.
Each of these firms are profitable (especially McDermott and Kirkland) and each requires a minimum billable hour from associates. So the firms will pay their associates who hit at least 2,000 hours a market bonus.
For Chicago firms/associates, it is a win-win situation. Chicago firms win because they can ensure that bonus-eligible associates are billing enough for the partners to reap rewards (2,000+ hours). Chicago associates who bill 2,000+ hours receive the same bonus as their NY bretheren (who have no hours requirement).
In sum, I continue to believe the top Chicago firms will match. For non-lockstep Chicago firms, associates who exceed 2,000 billable hours will be happy to see generous bonuses.
------CHICAGO------
Dear Associate in a D.C. office of a Chicago-based firm:
McDermott, Kirkland, and Jenner each attract top-notch candidates in their District of Columbia offices. They will want to continue to do so, and, consequently, will continue to pay whatever the "market" is.
Each of these firms are profitable (especially McDermott and Kirkland) and each requires a minimum billable hour from associates. So the firms will pay their associates who hit at least 2,000 hours a market bonus.
For Chicago firms/associates, it is a win-win situation. Chicago firms win because they can ensure that bonus-eligible associates are billing enough for the partners to reap rewards (2,000+ hours). Chicago associates who bill 2,000+ hours receive the same bonus as their NY bretheren (who have no hours requirement).
In sum, I continue to believe the top Chicago firms will match. For non-lockstep Chicago firms, associates who exceed 2,000 billable hours will be happy to see generous bonuses.
Wow, Philly gets no raise, and in return, they are expected to bill 25 less than every office that did get a raise? Talk about insulting.
Haiku for Firm High on Shame List:
Accepted Offer
Please Don't Make Me Regret It
Might Jump Ship Next Year
[i]n those offices for FY 2007 and beyond would be 2,000 billable hours (including pro bono hours). In those offices where we did not adjust base compensation in June (i.e., the Dallas, Houston, Miami, Philadelphia, Pittsburgh and Princeton offices), the target for FY 2007 remained 1,975 billable hours, but will be 2,000 billable hours for FY 2008
Ummm...so the offices that didn't get a pay raise will still have to increase hours. That's some BS!!! TTT all the way.
MLB to a free ticket to see Matt Damon play Gordon Cooney:
http://allspinzone.com/wp/2006/02/09/gordon-cooney-does-not-look-like-matt-damon/
------CHICAGO------
Dear Associate in a D.C. office of a Chicago-based firm:
McDermott, Kirkland, and Jenner each attract top-notch candidates in their District of Columbia offices. They will want to continue to do so, and, consequently, will continue to pay whatever the "market" is.
Each of these firms are profitable (especially McDermott and Kirkland) and each requires a minimum billable hour from associates. So the firms will pay their associates who hit at least 2,000 hours a market bonus.
For Chicago firms/associates, it is a win-win situation. Chicago firms win because they can ensure that bonus-eligible associates are billing enough for the partners to reap rewards (2,000+ hours). Chicago associates who bill 2,000+ hours receive the same bonus as their NY bretheren (who have no hours requirement).
In sum, I continue to believe the top Chicago firms will match. For non-lockstep Chicago firms, associates who exceed 2,000 billable hours will be happy to see generous bonuses.
Posted by: Anonymous | November 13, 2007 10:31 AM
REMINDER
For uncopyable, unforwardable emails - open the email, use CTRL or ALT + PRNTSCRN to take a screenshot, open up MS PAINT, paste, & edit out any personal details, and then boom, you instantly have a forwardable image file.
MLB to a free ticket to see Matt Damon play Gordon Cooney:
http://allspinzone.com/wp/2006/02/09/gordon-cooney-does-not-look-like-matt-damon/
To the people waiting for NY State Bar results: have you not asked someone that you work with?
last year we had at least a day's notice - we all knew on monday that results were going to be available on line Tuesday morning and everyone was late to work because they were checking/celebrating - you have to keep checking the BOLE website. They came out the 14th last year (which was a Tuesday) so they still aren't "late" - but given this year's laptop gate i'd calm yourselves and expect to wait for another few weeks - and hey - if they come out sooner all the better.
yeah, MLB looks like hot garbage after this memo.
The NY BOLE will post the date they expect to release results at the bottom of their home page (it will scroll across the bottom). I can't remember how much notice you will get, but it was at least a couple of days.
Chicago (10:34)
You are right on point.
MLB to free tickets to see Matt Damon play Gordon Cooney:
http://allspinzone.com/wp/2006/02/09/gordon-cooney-does-not-look-like-matt-damon/
the BOLE website scroll doesn't say anything about results yet. Bar/Bri says they will be up by Friday, which is the day CA results are to be released. Don't they usually come out on the same day? Aside: the MBE sucked this year.
10:37 and 10:38(2) - Thanks for your responses. Barbri sent out an e-mail a couple of weeks ago in which they stated that the BOLE plans to release the results by this Friday...nothing on the BOLE website (not even on their 1996-esque scrolling text), so I assume they got this information from the same mole that leaked them the 5th essay question from the July exam.
Bar results, Nov. 15th at 9 a.m.
The BOLE website scroll has been updated. Results will be out on Thursday, Nov. 15th at 9am. The list will be available to the public on Friday, Nov. 16th at 9am. Good luck to all.
Results will be available Thursday for private look up. It scrolls across the bottom of the window, not the page, next to the explorer icon.
Bar results, Nov. 15th at 9 a.m.
check BOLE. results will be posted on the website this Thursday.
I stand corrected...the BOLE must be reading ATL.
Bar results watchers: The BOLE tells you a few days in advance. Check their website.
What the hell is private look up? What do you need to get access to that?
Ouch. This firm just ended the parade fo bonuses, I'd say. Not good for those of us still waiting .... I'd prefer this post be removed, actually! Don't let it get in the hands of the wrong people.
wow. that was a quick change.
10:34 - that wasn't the case last year at Sidley. Last year NY associates got higher bonuses than did CHI associates who billed 2000.
CHI associates had to bill 2300 to get the same bonus as a NY associate.
"Aside: the MBE sucked this year."
Jeesh - how many times have you taken it and failed already to have the basis to draw the distinction between "this" year and any other year?
don't worry though, I'm sure BigLaw doesn't care if you're barred - just so long as you bill, biatch.
10:11(2) - Exactly. Philly compression is horrendous. I work for one of the larger firms. Although starting salaries are 85-90% of NYC starting salaries (a difference one could, in theory, attribute to COL), by year 7 my total compensation is less than a first year in NYC when you take bonuses into account. So a 7th year biglaw in NYC is probably making $150k-$200k more a year than a 7th year in Philly.
lat, could you open a thread for these people to talk about the new york bar exam so they stop doing it in other posts?
it says thrusday at 9 on the BOLE website. Scrolling accross the bottom
it says thursday at 9 on the BOLE website. Scrolling accross the bottom
Ouch. This firm just ended the parade fo bonuses, I'd say. Not good for those of us still waiting .... I'd prefer this post be removed, actually! Don't let it get in the hands of the wrong people.
10:32 Haiku: ok, ok, LW is slow in announcing, but everyone who's not getting fired gets at least market. am 05 and got more than market last year at around 2100 hours, you can't beat that anywhere in NY
LAT:
PLEASE DO A POST FOR ASSOCIATES WORKING AT CHICAGO-BASED FIRMS. WE NEED A FORUM WHERE WE CAN VENT TO EACH OTHER ABOUT BONUSES IN YEARS PAST, AND TRY AND READ THE TEA LEAVES FOR THIS YEAR.
THANKS!
What about Hogan ? And I ain't talkin' 'bout Hollywood ...
LAT:
PLEASE DO A POST FOR ASSOCIATES WORKING AT CHICAGO-BASED FIRMS. WE NEED A FORUM WHERE WE CAN VENT TO EACH OTHER ABOUT BONUSES IN YEARS PAST, AND TRY AND READ THE TEA LEAVES FOR THIS YEAR.
THANKS!
LAT:
PLEASE DO A POST FOR ASSOCIATES WORKING AT CHICAGO-BASED FIRMS. WE NEED A FORUM WHERE WE CAN VENT TO EACH OTHER ABOUT BONUSES IN YEARS PAST, AND TRY AND READ THE TEA LEAVES FOR THIS YEAR.
THANKS!
LAT:
PLEASE DO A POST FOR ASSOCIATES WORKING AT CHICAGO-BASED FIRMS. WE NEED A FORUM WHERE WE CAN VENT TO EACH OTHER ABOUT BONUSES IN YEARS PAST, AND TRY AND READ THE TEA LEAVES FOR THIS YEAR.
THANKS!
LAT:
PLEASE DO A POST FOR ASSOCIATES WORKING AT CHICAGO-BASED FIRMS. WE NEED A FORUM WHERE WE CAN VENT TO EACH OTHER ABOUT BONUSES IN YEARS PAST, AND TRY AND READ THE TEA LEAVES FOR THIS YEAR.
THANKS!
LAT:
PLEASE DO A POST FOR ASSOCIATES WORKING AT CHICAGO-BASED FIRMS. WE NEED A FORUM WHERE WE CAN VENT TO EACH OTHER ABOUT BONUSES IN YEARS PAST, AND TRY AND READ THE TEA LEAVES FOR THIS YEAR.
THANKS!
They didn't raise salaries in TX? Didn't those markets go to 160 this year? How big are those offices?
Private Lookup means that you need your Bole ID to view your results
Here is how Chicago bonuses have worked in the past several years and how it will probably shake out this year:
K&E - above NY lockstep bonus for most members of each class
Skadden - NY lockstep bonus
LW - above NY lockstep bonus for 2050-2100 hours depending on class year, less if below
Sidley and Mayer - generally lower than NY bonus, but if you bill a lot, you will get above NY lockstep
Everyone else - below NY lockstep bonus
Jones Day - gift certificate to Arby's
These guys are real asses. What happens if this year you bill 2300 hrs and next year you bill 1900. On combined basis you billed an average of 2100 but you only get a bonus for one year. Does not make a lot of sense. If I was over the 2000 billable this year I would hold my December billables back and not bill it till January. Ashame we have to resort to such maneuvering.
Where is my huge bonus? Where?!?
LAT:
PLEASE DO A POST FOR ASSOCIATES WORKING AT CHICAGO-BASED FIRMS. WE NEED A FORUM WHERE WE CAN VENT TO EACH OTHER ABOUT BONUSES IN YEARS PAST, AND TRY AND READ THE TEA LEAVES FOR THIS YEAR.
THANKS!
LAT:
PLEASE DO A POST FOR ASSOCIATES WORKING AT CHICAGO-BASED FIRMS. WE NEED A FORUM WHERE WE CAN VENT TO EACH OTHER ABOUT BONUSES IN YEARS PAST, AND TRY AND READ THE TEA LEAVES FOR THIS YEAR.
THANKS!
LAT:
PLEASE DO A POST FOR ASSOCIATES WORKING AT CHICAGO-BASED FIRMS. WE NEED A FORUM WHERE WE CAN VENT TO EACH OTHER ABOUT BONUSES IN YEARS PAST, AND TRY AND READ THE TEA LEAVES FOR THIS YEAR.
THANKS!
he's thinking arbys.
"Aside: the MBE sucked this year."
I took (and passed) the bar in 2005 (VA) and in 2006 (NY)...the MBE always sucks!
I could use a cup of tea.
"Aside: the MBE sucked this year."
I took (and passed) the bar exam in 2005 (VA) and 2006 (NY). The MBE always sucks!
Morgan Lewis & Bockius: LET'S BASH THIS TTT!!!!!!!!!!!!!!!
"Nice work...how do you say so much without saying a thing. "Blah Blah Blah... (x 2 pages). In conclusion, we have nothing to say and you know nothing more now than an hour ago when you began reading this worthless memo that we wasted 5 otherwise billable hours preparing Regards, Management."
Why not just say: "We had a shitty year and we need to find the breaking point at which we can underpay you without losing face or too many associates."
The memo actually does say one thing - the firm is imposing a mandatory 2000 hr min to get a bonus. From the wording, it appears that this may have not been the case in the past.
MLB to free tickets to see Matt Damon play Gordon Cooney:
allspinzone. com/wp/2006/02/09/gordon-cooney-does-not-look-like-matt-damon/
Dear Anonymous Chicago-based firm associate: SHUT UP.
Dear 12:55,
Please shut the hell up.
Thanks!!
During next year's recruiting season we have to post links to these bonus threads to show the 2L's who start migrating here which firms screw over their associates. Case in point #1 right here.
FYI - Morgan Lewis just held a meeting w/ associates in which they basically said that the memo above was NOT meant to reflect their policy toward special bonuses. Rather, MLB will wait to see what other "peer firms" (e.g. Sidley, Jones Day, etc.) do and match if they do.
Yeah, this memo doesn't seem as bad as what the "tipster" makes it out to be.
Given I work at a "peer firm" with similar creds, I will also wait and see.
In Philly, how can Morgan Lewis remain at $145k starting, when approx. 7 other ("regional") Philly firms are at the same level. Even firms as weak in terms of PPP as say, Ballard and Pepper are at $145k, I believe.
Where is Schulte, Stroock, Hughes Hubbard, Patterson Belknap? All of which are NY firms. Is the split beginning to happen? The haves and the have nots.....
The "top" Philly firms are only paying $145K with nominal bonus. Mr. Lat, please show us downtrodden bruthas some love and expose the plight of our subhuman compensation to the world.
I'll go ahead and say it. The bonuses have dried up. To those who will be collecting ridiculous money this year for the exact same work -- and in many cases, FAR LESS WORK -- congratulations.
To those of us who are not receiving a special bonus, let's just keep bending over.
FYI-
Sidley announced special bonuses for its NY office only.
Regular bonus rates not announced.
Sidley matches but NY only.
_____________________________________________
From: The Management Committee
Sent: Tuesday, November 13, 2007 3:49 PM
To: CH - Associates; DC - Associates; DA - Associates; LA - Associates; SF - Associates; NY - Staff Lawyers
Subject: FW: 2007 SPECIAL BONUS - NEW YORK
For your information, please find the message below to New York associates announcing a special bonus being provided in New York. As noted, the special New York bonuses are in addition to year-end bonuses, which will be the subject of a Firm-wide announcement in the coming days and which we expect will generally follow the pattern of prior years. We appreciate and value the work of all our associates.
______________________________________________
From: The Management Committee
Sent: Tuesday, November 13, 2007 5:42 PM
To: NY - Associates
Cc: +All Firm Partners; NY - Counsel; +All Firm Senior Counsel
Subject: 2007 SPECIAL BONUS
TO: All New York Associates
FROM: The Management Committee
RE: 2007 Special Bonuses
CC: All New York Counsel
Because we continue to place a high value on your contributions, as well as on the contributions of all of our associates, we are pleased to announce that this year New York associates will be eligible for special bonuses on the following scale:
CLASS SPECIAL BONUS
2006 $10,000
2005 $15,000
2004 $20,000
2003 $30,000
2002 $40,000
2001 and more senior $50,000
Special bonuses will be paid, in December, to associates whose performance has met expectations. The amount of the special bonus will be prorated for associates who joined the Firm this year after January 1, or who were during the year on a leave of absence or working on a part-time basis. Compensation of counsel, including eligibility for any special bonus, will continue to be made on an individual basis. The special bonuses described above will be in addition to the year-end bonuses, which will be the subject of a Firm-wide announcement in the coming days and which we expect will generally follow the pattern of prior years.
On behalf of all of the partners, we thank and congratulate you for your contributions to another strong year for all of us.
When I worked for those cheap bastards (and I left earlier this year) in LA, I had one partner "explain" their intended bonus structure way back in June. He basically said that with the firm already pissed over raising to 160K (and by the way, they're no longer lockstep so there's compression even in the major markets now), he'd be "shocked" if anyone was given a bonus for working any less than 2300 hours.
So that memo doesn't exactly shock me.
Sucks to be Sidley CH - Associates; DC - Associates; DA - Associates; LA - Associates; SF - Associates; NY - Staff Lawyers!!!
You are second tier in your own home market.
Hey Ex Member,
MorganLaAssociates here. We know exactly who you are because there is exactly one person who left between June and now. See, you weren't shipwrecked, you were tossed overboard as dead weight. Billing less than 20 hours a week for a month will do that will turn everyone against you, especially when you dicked over the people who were trying to give you work that you weren't doing. So his comments were probably directed to you because it was...directed to you.
Yeah, I had liked MLB experience when I was an associate just a very few years back in L.A.
"FYI - Morgan Lewis just held a meeting w/ associates in which they basically said that the memo above was NOT meant to reflect their policy toward special bonuses. Rather, MLB will wait to see what other "peer firms" (e.g. Sidley, Jones Day, etc.) do and match if they do."
Oh really? Which office?