I am also quite surprised that nothing has been said about MoFo's maternity/paternity leave policy on this site (unless I missed it)? Not only has MoFo matched other firms on the 18 weeks, but my understanding is that it also automatically allows any associate to work a reduced schedule for the first year when they return (and longer, though after the first year, my understanding is that it is not automatic). Personally, I think that's a significant change from other firms, and would like you to highlight it so that other firms start matching! :-)

I've had it with these MoFo bonus policy announcements on this MoFo site!

-SLJ

Happy to see that MoFo's making some effort to tie bonuses to metrics other than hours billed. Hopefully others will do the same.

On a somewhat related note: To all those who haven't read Jeff Bleich's call for a move away from the billable-hours regime, do so!

So has this locked in a floor for NYC bonuses for 2008?

i know the old bonus policy turned people off of the firm. i had two friends go through recruiting this year who turned down offers from MoFo primarily on the basis of the low bonuses. looks like they finally got the message.

i hadn't heard that MoFo was matching 18 weeks maternity leave either. when did that happen?

So what are they doing in NY? Do NY associates have a chance to achieve the same high levels of bonuses?

This is a nice step from MoFo. Looks like they're taking steps to regain the quality of life reputation they had.

I call bluff.

$240,000 as a first-year is tough to beat (unless you're at Wachtell)

the firm expect you to account for 2300 hours a year....that's crazy.

but nice to know that this firm's management doesn't see some terrible economic disaster in the cards that would require low bonuses. i guess their hours-based bonus hedges against that risk though.

you ppl are fools. when a firm moves from a hours-bonus system to a merit-bonus system it usually means they are going to screw their associates. when you have subjective evaluations determining bonuses, it's much easier for the firm to swindle associates than when you have hard hours thresholds.

NY to...aw, fuck it.

--TPW Associate

Well played, MoFo.

And WGWAG? Firms actually usually expect you to account for at least 2300 hours, although if you hit your billable hours, they usually don't say anything. I used to work for a small Biglaw that required accounting for 2400 hours, even though the billing requirement was about 1700 hours - you had to say how you were going to spend those 2400 hours in the coming year. My current larger Biglaw asks for 2500, but no one ever really tells you you're not meeting it, as long as your billables are healthy.

Woah, ppl are expecting bonuses this year?!?

5:08 PM -- they changed their maternity leave policy at the beginning of March. Later than others, but the wait was worth it, considering they really seemed to have put thought into the new policy, instead of blindly matching, and the policy is retroactive to January 1!

6:05 - They've set a floor for the standard bonus. That's not too subjective.

In this economy, I'll be happy at the end of the year with a bonus scale that starts with 30k for the first years.

MoFo went to 18 weeks primary caregiver leave over a month ago possibly two. In addition, if you are a primary caregiver, you are automatically entitled to a part-time year (67%) after your 18 week leave.

Also, MoFo had a partial merit-bonus system before, but now more people will qualify for larger bonuses overall.

Can anyone please elaborate on the Patent Prosecution target hours. It is extremely hard to meet even 2,000 hour expectation in pp work. Thanks

Re: the "fools" comment at 6:08 -- Possible, of course, but tougher to do at MoFo. The firm always publishes a decent amount of information about the actual distribution of merit bonuses. Next year, I would expect that info to include what percent hit each merit level. If that differs substantially from the promised distribution (i.e., 10, 55, 25, 10), there'll be a ruckus.

Okay, so there's a memo, which seems simple enough (and which explicitly states "Do Not Forward" - lovely to know how serious biglaw associates are about professional ethics)... but what's with the tipster's inconsistency:

"I don't work at MoFo, but I heard from a friend..."

"...away from hours-based bonuses (though we still have those)..."

So, does the tiopster work at MoFo or not? Maybe it's a partner, proud of the bonus structure but disappointed that none of the associates leaked the memo? (I.e. disappointed that the associates actually might take professional ethics seriously?) What's the game here?

Guys in my high school used to take 36 weeks of paternity leave all the time. It was no big deal.

6:40 - I think there were two different tipsters. One who gave the initial tip, and a second who provided the memo and a summary.

Happy that I accepted that MoFo offer; bonuses of that size in this market bodes well. Now I just need to pass the bar.

impressive

Those are impressive numbers. But Mofo's associates aren't always the cream. Sad they get so much loot.

"sad they get so much loot"? Why? If merit had anything to do with it, we'd all be paid MUCH less. As would our clients.

Lat, you should do a chart on bonuses at non-New York offices. Seeing these bonus numbers from MoFo is pretty disheartening from the perspective of a Covington associate. MoFo would be at the high end of the market. Covington would be at the very bottom of the market. I'm not even sure Covington can be said to be participating in the market. Covington's management may not be aware of how far off the mark they are, and a chart might actually help send things in the right direction. If not, it would give some of us at Covington a sense of some good lateral options.

This is off topic, but I just heard that Steptoe & Johnson has gone to 18 weeks of paid parental leave (up from 12). The new policy is effective immediately and applies to anyone who currently is parental leave.

During times like these, this would be a welcome memo.

Im with the previous post 6:08PM....
This is usually a sign that they are going to put out LESS bonuses NOT more. The subjective system they are implementing is not good for associates. Also, the MoFo requirement of 2,300 hours is really incredible. All they are doing is shifting guaranteed bonuses to discretionary bonuses and distracting us with "potentially" higher numbers. Come on folks, I thought you were all much smarter than to fall for that.

6:40, you're a baby. Just because the memo says "Do not forward" doesn't mean it's unethical to do so. The memo's author knows it's going to be forwarded to ATL, and the language is a CYA measure to allow the firm to fire the forwarder if it desires.

You must have a hard time in this world.

11:36, I generally agree that discretionary bonuses usually mean less bonus. However, the memo shows that MoFo has a bonus range, such that as long as you hit 1950 you get at least $25k, and if you hit 2100 you get at least $35k. These numbers are better than many non-NY firms. Plus, you have the added benefit of the "potential" for more money (even if it only occurs rarely). It seems like a win-win for their associates.

It's so ironic. All lawyers complain about the pressures of billable hours, but when any firm tries to move away from the hours-based system to a more merit-based system, the idiotic and naive lawyers/students raise hell and complain that they will be shortchanged when there is discretion. And so the purely hours-based compensation system remains despite all the legitimate complaints.

Notice that most other high-end professions do not pay their bonuses solely based on hours worked, and they have no problems identifying merit and paying for it.

Enjoy the billable hours hell and watching lazy and slow associates out-earn efficient associates, suckers.

The 2300 hours total (billable and non-billable) hours requirement is really no big deal. First, you can include in your non-billable hours just about anything even remotely work-related -- e.g., organizing files in your office, answering random emails, "keeping current" by reading the newspaper (or ATL!). Second, as long as you are hitting your billable requirements, they do not seem to worry too much about whether you are also meeting the non-billable requirement. I've been at MoFo for quite a few years and I have never heard of anyone getting a bad review or suffering any other consequences for not meeting the 2300 hour requirement.

MoFo junior associate here - the 2300 overall hours is not a high stress point. First, I've heard the same thing from midlevel/senior associates about the 350 nonbillable requirement not being a major point for the firm. But, more importantly, it is very easy to meet - this month, I've "billed" non-billable time for recruiting (receptions, organizing summer events), attending a diversity workshop, reading the Recorder and other legal newspapers, monitoring relevant legal blogs for current events developments in my field, attending CLE trainings, attending bar association/networking events, and legal community service. It's all stuff I'd be doing anyway, and frankly, I'm fine with reporting it to the firm. To the extent that it indicates that they care about the professional (non-billable) development of their associates, or their associates' involvement in the legal community outside of the four corners of the office, more power to them.

When I accepted with MoFo, one of my only reservations was that the bonus structure was then-low. This was a welcome announcement. It was heartening given the economy - and it's always good to see the firm showing increased (financial) appreciation for associates.

As far as "Do Not Forward" - a link to this blog entry was in the firm's morning newsletter today, so I highly doubt the firm is too concerned with law students/laterals knowing that we now have a better bonus policy than before. Can't hurt from a recruiting standpoint, IMO.

In response to a request for elaboration on target pp hours... When I worked at MoFo, a partner told me that they will not consider patent prosecutors for partner unless they were billing 2000/year minimum (litigators - 2100/year min). Also about 50 or so partners were demoted about 3 years ago - former partners (prosecutors) told me it was due to hours. Yet another partner (litigator) was alleged to have said that the pp group is merely a loss leader for litigation and not a real practice group. If you are in pp, I suggest you transfer to litgation or establish a due diligence practice, if you'd like to become partner.

is mofo still following this?