Associate Bonus Watch: K&L Gates (New York)
A report on bonuses (such as they are) at K&L Gates in New York:
No notice -- not even an email. Apparently, the "highly confidential" memo appearing on ATL last year less than 24 hours after its release wasn't appreciated.We were told that we would find out what the bonus was when it hit our bank accounts. The money hit our accounts this past Saturday, and it was a friggin' joke. Since our handlers are doing their best to hamper communication, we've been forced to piece together an unofficial chart. Here's the sad tale, by class year:
2007: Zero
2006: 0 -- $15,000
2005: $20,000 -- $30,000
2004: $30,000
2003: $35,000
2002: $35,000
2001: $35,000 -- $40,000
2000: $40,000 -- $50,000The high end of each class's range was obtained by one, maybe two associates.
And that's in New York; we'd expect other offices to be lower. If you have info on them, feel free to email us.
(97) Comments
Is that pre-or post-taxes (i.e. what appeared in our account, or what appeared on the first line of the pay stub)?
FIRSTY!
SECOND!!!!!
Cost of living comparison: http://www.bankrate.com/brm/movecalc.asp?a=0&d1=195000&d2=135.431609747707&d3=204.330522527818
First year associate making $195,000 (salary plus bonus) in Beantown would need to make $294,000 to maintain lifestyle in NYC. Seems like the special bonuses in NYC offices aren't even close to what they should be.
no bonuses for 2007 grads....that's a joke
Am I the only one who never heard of this firm?
Am I the only one who's a TO fan? And wants to see him dance?
3:10 - they used to be kirkpatrick and lockhart, if that helps.
3:10 - you're a moron. You don't bonus until you hit the end of one entire calendar bonus year. This is true across the board.
Noonen!
I assume pre-tax dollars - that's what it was when I was there, anyway.
2007, although I was happy to receive a small bonus during my stub year, the joke is thinking you deserve one.
310 - it's the latest merger monster law firm. AKA Kirkpatrick & Lockhart Preston Gates Ellis LLP. They have 1500 lawyers.
3:17 - you are the moron. For many firms, at least here in new york, 2007s get a bonus equaling the pro-rated amount of the 2006s bonus... or close thereto.
How can any KL associate in NYC complain? First, you work for a firm that isn't as profitable as the firms paying 55k bonuses (or whatever it is). Second, a 2005 grad is still making a 20k bonus for presumably billing just 1900 or 2000 hours. Third, shut the hell up: If you were at a midsized firm or even many "prestigous" CA firms (like Mofo or Pilsbury) you would be happy to get even 20k.
All I'm getting is 15k this year from my TTT firm so just be happy you aren't me.
3:17 - Not true. Most New York firms give a pro-rated bonus to first years who just started in the fall. It worked out to about $10,000 as a pro-rated portion of $35,000.
3:17: most decent firms pay a pro-rated bonus. You're completely wrong. Unless "the board" you're referring to is terrible firms like K&L Gates.
Take heart in the fact that a Windows Machine was used to send your bonuses, read this blog, and write this post.
I am going to retire back to my home, and listen to my Zune.
LOL @ 3:17.
Individual associates at CWT have been told their bonuses...it appears that the numbers are not too dissimilar from K&L in terms of range.
Furthermore, why should a stub year expect ANY bonus for working at KL Gates in NYC? Obviously if they end up working there they had crappy grades and couldn't make it to a Vault 50 firm in NYC where they would make more money. At my top 14, KL would recruit from the middle of the class and below.
"2006: 0 -- $15,000"
This seems to say that at least one 2d year got no bonus. Without more details, this appears to be very poor treatment. Maybe hours were way low or people lied about their bonus vel non?
As for the 3d-8th years, certainly below market, but not the disastrous treatment of junior years.
Furthermore, why should a stub year expect ANY bonus for working at KL Gates in NYC? Obviously if they end up working there they had crappy grades and couldn't make it to a Vault 50 firm in NYC where they would make more money. At my top 14, KL would recruit from the middle of the class and below.
I'm a TO fan dawg.... I want to see him dance!!!
What are "crappy grades" anyway? If you have no C's, but not tons of A's, are your grades still crappy because you didn't get A's in property and torts three or four years ago?
I'm a TO fan dawg.... I want to see him dance!!!
3:17
no, you're the moron. and one who was easily duped out of a bonus as a first year.
you get one pro-rated for the couple months you worked. i mean, if you work for a decent firm you do.
and bonus is a noun. moron.
For what it's worth, I heard very recently from an employee in the marketing department at K&L that in 2008 first year associates' total compensation would jump to $225,000. Seems completely bogus in light of this bonuses post...
I'm a TO fan dawg.... I want to see him dance!!!
It's still better than the bonuses in K&L's main offices in Pittsburgh. Unless things have changed in the past few years, bonuses are about $1500 there.
As many have said, 3:17 has some rotten, poop-mixed egg on his face. I'm '07 and I'm getting a pro-rated market bonus.
Also, I'm in the same building as K&L NYC. I will now commence mocking them in the elevators.
3:17 - you serious, clark? class of 2007 at most firms gets a pro-rated version of the bonus 2006 gets, with no special bonus.
except at k&l gates, of course.
It's still better than the bonuses in K&L's main offices in Pittsburgh. Unless things have changed in the past few years, bonuses are about $1500 there.
Not bogus - KLG is just saving their money so they can bump to 190 soon....
For what it's worth, I heard very recently from an employee in the marketing department at K&L that in 2008 first year associates' total compensation would jump to $225,000. Seems completely bogus in light of this bonuses post...
That bonus structure is downright sad for a "big" firm. What a joke.
I'm a TO fan dawg.... I want to see him dance!!!
3:17 - you serious, clark? class of 2007 at most firms gets a pro-rated version of the bonus 2006 gets, with no special bonus.
except at k&l gates, of course.
Not bogus - KLG is just saving their money so they can bump to 190 soon....
Be happy you're getting anything you flaming maggots!! Look at what's going on in the economy!! We're all DOOMED!!!!!!!!!!!!!!!!!!!!!!
Still never heard of them. Although somebody said their main office is in Pittsburgh -- must be a powerhouse firm . . .
Boston office got way, way less than NY. Roughly 20%-50% of NY if those #s are right.
Some of y'all need to learn to click 'Post' just once and then wait for it to post.
3:17 = EPIC FAIL
Anyone have 411 on KL Boston bonus #s?
Bill Gates killed me... avenge me!
It wasn't the pills that killed me, it was the belt I had around my neck... accidental death, but best orgasm ever! mourn me!
I'm a TO fan dawg.... I want to see him dance!!!
Is Heath Ledger dead?!? WTF?!?
That bonus structure beats the hell out of MWE, where class of 2007 got zero (no prorated!) and 2006 got $5K for making hours (2000).
Bonuses were so much lower than last years that associates are polishing resumes like mad. The firm says they will adjust upward but so far the amount is unclear, and looks unlikely to match last years bonus.
If the job market doesn't totally tank, MWE's gonna be doing a lot of hiring in the next year or two...
what is meant by TTT?
Welcome to the internets 4:18.
I'm a TO fan dawg.... I want to see him dance!!!
K&L=merger gone wrong.
they fucked with one of the best regional seattle firms.
Heath Ledger to 190
3:24(1) - BS - letters have not gone out yet
4:44 Uh, not BS. Individual associates in corporate were called in to a partner's office and told of our ridiculously low bonii, in order to cushion the blow of the memo they keep telling us is 'just a day away...'
4:44, not BS. Individual associates in corporate were called in to a partner's office yesterday and told of their ridiculously low bonii in order to cushion the blow of the upcoming memo they keep saying is "just a day away..."
When I was a 2L I had K&L for eiw in my list of 33, I didn't get a call back from them. I'm glad I went to skadden instead.
"If you were at a midsized firm or even many "prestigous" CA firms (like Mofo or Pilsbury) you would be happy to get even 20k"
Amen, CA midsized anon. I'm trying not to hate my friends in other cities (who worked about the same amount I did, or less) for getting car-sized bonuses to compare with my measly four figures.
Skadden sucks
Skadden sucks
not good enough for K&L went to Georgetown.
4:51 - identify yourself
K&L Gates Seattle lawyers get screwed the most. Even the Pittsburgh office gets paid more than Seattle. The Seattle office is now a festering TTT in decline. I guess that's what happens when a piece of crap firm from Pittsburgh buys up your regional powerhouse.
5:10 - since when does it work like that on here? Why would I do such a thing? Just wait for you memo....
5:10 - then provide evidence to establish proof of what you claim
keep in mind bonuses can be lower at k&l because hours are WAY lower! so while k&l associates are home relaxing, or out at the bars, others are sitting in the dark shadows of their offices billing hour after hour. it's a tradeoff... k&l people chose lifestyle over bonus. whats a few thousand bucks when they have a life and you dont?
Skadden associates like to wear polar fleece that says "Skadden" on it. Polar fleece! On a work day!
5:20 - I don't have time for this, I'm too busy updating my resume, I suggest you do the same.
5:27
When did you work there? From what I understand associates now get emails when they fall below 80%
5:34 - very witty, now show proof that you are not lying
PH in ATL raised to $160
PH in ATL raised to $160
PH in ATL raised to $160
Still beats MWE.
Not only did class of 2006 associates get $5k for making 2000 hours, but so did class of 2005, 2004, and yes, in some cases, class of 2003. That's right - first through fourth year associates at MWE got $5000 for billing 2000-2099 hours. $10000 if they billed 2100-2199. woo-hoo.
The management committee met today to discuss adjustments -- who wants to bet they still won't beat K&L Gates after adjusting?
5:27, just because they are billing less doesn't mean they are living fabulous, full-of-free-time, stress-free lives. At a lot of firms where it appears that associates are "billing less," they in fact have to suffer through a lot of "down time" where there's an unspoken (or sometimes even spoken) expectation that they will be in the office during business hours, even when the partners *are not giving them any work* -- or that they will sit around and wait for feedback on an assignment when they could be going home instead (with nothing else to do in the meantime), or that they will be instructed to do something for a client, but, oh, the partner doesn't want to bill the client for it, so, you know, count your time as business development (oh yes this fucking happens). Then when things pick up, they're expected to drop everything and work marathon 80-90-hour weeks until the partner decides things can slow down. Then they're stuck *again* twiddling their thumbs and wishing their lives weren't so stressful and boring.
The even worse part of it is that when they *are* out at the bars with their friends, there's always a sneaking worry in the back of their mind that they won't make their hours (because the partners aren't giving them enough work) and will be held back (to say nothing of getting even a crappy bonus) -- so they live in a constant state of fear, boredom, and stress, and the firm doesn't even have the decency to give them a non-insulting bonus.
Plus, at most of these firms you are lucky to get 50 hours of pro bono time toward your billables. So any pro bono you do is *actually* pro bono, meaning YOU are giving up YOUR time to make the firm look good. Oh yay. Where do I sign up. (Keep in mind, too, that both the firm and the ABA say that all lawyers are expected to do some pro bono work).
If you want to know what their lives are REALLY like, look at their total hours (everything, including admin tasks, training, business development, pro bono, firm meetings, dead office time, etc.) and compare those to the total hours of associates at the higher-billing firms. I bet you will be surprised at how little difference you find.
6:14 just pwned all
6:14 it's like you can peer into my soul...
6:14 to 190!!
(?)
I'm a TO fan dawg.... I want to see a dance!!!
The unemployment office gave crappy bonuses this year too.
"Would you like fries with that?"
6:14 must work at MWE
All of the comments about CWT are nonsense. I received my bonus letter this morning... full bonus plus special bonus. Seriously, why make things up?
9:55 - Right on, me too. Suck it 4:48!
9:55 -- the CWT comments are not nonsense, there were a number of associates who got nothing or 17k in their memo this morning.
I'm a 2004 grad in Chicago and got 3k. Those bonuses sound pretty good in comparison.
Regarding the hours (or lack of) worked by K&L associates, I must set the record straight. I’m sleeping with one of the NYC associates, and I can report that he works an insane amount of hours leaving him little time to please me. I know K&L associates have the reputation for working less, but that is a myth. My bf is often in the office into the wee hours. He and the other associates deserve a bonus comparable to the other NYC firms.
Regarding the hours (or lack of) worked by K&L associates, I must set the record straight. I’m sleeping with one of the NYC associates, and I can report that he works an insane amount of hours leaving him little time to please me. I know K&L associates have the reputation for working less, but that is a myth. My bf is often in the office into the wee hours. He and the other associates deserve a bonus comparable to the other NYC firms.
Regarding the hours (or lack of) worked by K&L associates, I must set the record straight. I’m sleeping with one of the NYC associates, and I can report that he works an insane amount of hours leaving him little time to please me. I know K&L associates have the reputation for working less, but that is a myth. My bf is often in the office into the wee hours. He and the other associates deserve a bonus comparable to the other NYC firms.
Regarding the hours (or lack of) worked by K&L associates, I must set the record straight. I’m sleeping with one of the NYC associates, and I can report that he works an insane amount of hours leaving him little time to please me. I know K&L associates have the reputation for working less, but that is a myth. My bf is often in the office into the wee hours. He and the other associates deserve a bonus comparable to the other NYC firms.
Not all associates are working hard there. My friend use to work for K&L Gates, he left the place. I attended one of the their summer events, a married partner was openly making out with a married associate. To make it worse, the married associate's husband works in the same building at Shearman. LOL. Guess there are other perks than $$ when you don't need to work hard to get ahead.
Were they married to each other?
so does anyone actually think they're raising salaries?
You pre-madonna bitches. You are lucky for what you got. Most firms are looking at fallin apart in this screwed-up economy. Ride it out, put your time in and it will pay off.
"Pre-madonna????".....hahahahahahahahahaha
6:14- you're completely delusional. i work there (k&l) in ny, and down time in the office or not, there's no fear of not making hours b/c there's not enough work... there IS NO MINIMUM! thats why i could care less if i dont make my hours. and, im never expected to sit in the office for no reason when i'm not doing any work, i just leave when there's no work to be done. and most other associates do the same. until you've worked there, dont assume you know what goes on behind closed doors. k&l is lifestyle over bonus, and i personally (and others agree with me) wouldnt trade in the life i have and being able to get out of the office at 6/7pm and spending time with my family, in exchange for an extra 15k in bonus, which, after taxes, isn't all that much anyway.