http://abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/ Above the Law: A Legal Web Site – News, Commentary, and Opinions on Law Firms, Lawyers, Law School, Law Suits, Judges and Courts Wed, 15 Feb 2012 01:42:50 +0000 hourly 1 http://wordpress.org/?v=3.0.5 http://abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/comment-page-4/#comment-183424 guest Fri, 19 Feb 2010 01:50:20 +0000 http://wp.abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/#comment-183424 MoFo's compensation structure pays NY associates differently than all other MoFo associates. In MoFo NY, you got a "make whole" bonus if you hit your 1950 target (billable + pro bono) ~plus~ the Cravath scale bonus. In all other MoFo offices, the bonus payout is what you see above--there is no "make whole" bonus for the frozen 2009 salary if you made your hours. Depending on where you end up on the above scale, an associate can end up ahead or behind his/her NY peers (and/or so-called peer firms, e.g. Latham which gave a "make whole" bonus or those firms which never froze). It is an interesting/unique approach. Realistically, unless you exceed expectations (hours, merit), you will likely be on the lower end of the range which ends up below market for most classes. If you excel in both metrics, you can beat the market, some people significantly so. But, the firm changes its bonus structure practically every year (frustrating) so my comments are likely already irrelevant/outdated. MoFo’s compensation structure pays NY associates differently than all other MoFo associates. In MoFo NY, you got a “make whole” bonus if you hit your 1950 target (billable + pro bono) ~plus~ the Cravath scale bonus. In all other MoFo offices, the bonus payout is what you see above–there is no “make whole” bonus for the frozen 2009 salary if you made your hours. Depending on where you end up on the above scale, an associate can end up ahead or behind his/her NY peers (and/or so-called peer firms, e.g. Latham which gave a “make whole” bonus or those firms which never froze). It is an interesting/unique approach. Realistically, unless you exceed expectations (hours, merit), you will likely be on the lower end of the range which ends up below market for most classes. If you excel in both metrics, you can beat the market, some people significantly so.
But, the firm changes its bonus structure practically every year (frustrating) so my comments are likely already irrelevant/outdated.

]]> http://abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/comment-page-4/#comment-183423 guest Fri, 19 Feb 2010 01:41:03 +0000 http://wp.abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/#comment-183423 MoFo's compensation structure pays NY associates differently than all other MoFo associates. In MoFo NY, you got a "make whole" bonus if you hit your 1950 target (billable + pro bono) ~plus~ the Cravath scale bonus. In all other MoFo offices, the bonus payout is what you see above--there is no "make whole" bonus for the frozen 2009 salary if you made your hours. Depending on where you end up on the above scale, an associate can end up ahead or behind his/her NY peers (and/or so-called peer firms, e.g. Latham which gave a "make whole" bonus or those firms which never froze). It is an interesting/unique approach. Realistically, unless you exceed expectations (hours, merit), you will likely be on the lower end of the range which ends up below market for most classes. If you excel in both metrics, you can beat the market, some people significantly so. But, the firm changes its bonus structure practically every year (frustrating) so my comments are likely already irrelevant/outdated. MoFo’s compensation structure pays NY associates differently than all other MoFo associates. In MoFo NY, you got a “make whole” bonus if you hit your 1950 target (billable + pro bono) ~plus~ the Cravath scale bonus. In all other MoFo offices, the bonus payout is what you see above–there is no “make whole” bonus for the frozen 2009 salary if you made your hours. Depending on where you end up on the above scale, an associate can end up ahead or behind his/her NY peers (and/or so-called peer firms, e.g. Latham which gave a “make whole” bonus or those firms which never froze). It is an interesting/unique approach. Realistically, unless you exceed expectations (hours, merit), you will likely be on the lower end of the range which ends up below market for most classes. If you excel in both metrics, you can beat the market, some people significantly so.
But, the firm changes its bonus structure practically every year (frustrating) so my comments are likely already irrelevant/outdated.

]]> http://abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/comment-page-4/#comment-183422 guest Fri, 19 Feb 2010 01:32:07 +0000 http://wp.abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/#comment-183422 MoFo's compensation structure pays NY associates differently than all other MoFo associates. In MoFo NY, you got a "make whole" bonus if you hit your 1950 target (billable + pro bono) ~plus~ the Cravath scale bonus. In all other MoFo offices, the bonus payout is what you see above--there is no "make whole" bonus for the frozen 2009 salary if you made your hours. Depending on where you end up on the above scale, an associate can end up ahead or behind his/her NY peers (and/or so-called peer firms, e.g. Latham which gave a "make whole" bonus or those firms which never froze). It is an interesting/unique approach. Realistically, unless you exceed expectations (hours, merit), you will likely be on the lower end of the range which ends up below market for most classes. If you excel in both metrics, you can beat the market, some people significantly so. But, the firm changes its bonus structure practically every year (frustrating) so my comments are likely already irrelevant/outdated. MoFo’s compensation structure pays NY associates differently than all other MoFo associates. In MoFo NY, you got a “make whole” bonus if you hit your 1950 target (billable + pro bono) ~plus~ the Cravath scale bonus. In all other MoFo offices, the bonus payout is what you see above–there is no “make whole” bonus for the frozen 2009 salary if you made your hours. Depending on where you end up on the above scale, an associate can end up ahead or behind his/her NY peers (and/or so-called peer firms, e.g. Latham which gave a “make whole” bonus or those firms which never froze). It is an interesting/unique approach. Realistically, unless you exceed expectations (hours, merit), you will likely be on the lower end of the range which ends up below market for most classes. If you excel in both metrics, you can beat the market, some people significantly so.
But, the firm changes its bonus structure practically every year (frustrating) so my comments are likely already irrelevant/outdated.

]]> http://abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/comment-page-4/#comment-183421 guest Fri, 19 Feb 2010 01:03:02 +0000 http://wp.abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/#comment-183421 This is the most random comment thread ever. It is like the ATL community went on a collective acid trip. This is the most random comment thread ever. It is like the ATL community went on a collective acid trip.

]]> http://abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/comment-page-4/#comment-183420 guest Fri, 19 Feb 2010 00:48:44 +0000 http://wp.abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/#comment-183420 125-127 is an obvious Gibson Dunn partner or one of its staff given the task of singing the firm's praises 125-127 is an obvious Gibson Dunn partner or one of its staff given the task of singing the firm’s praises

]]> http://abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/comment-page-4/#comment-183419 guest Thu, 18 Feb 2010 19:26:43 +0000 http://wp.abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/#comment-183419 Fuck MJ and her rats on 17. Fuck MJ and her rats on 17.

]]> http://abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/comment-page-4/#comment-183418 guest Thu, 18 Feb 2010 19:00:34 +0000 http://wp.abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/#comment-183418 122/123: Nah, my recommendations were excellent. But I appreciate your concern! 122/123: Nah, my recommendations were excellent. But I appreciate your concern!

]]> http://abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/comment-page-4/#comment-183417 guest Thu, 18 Feb 2010 16:28:25 +0000 http://wp.abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/#comment-183417 122/123: Nah...I had great recommendations. I appreciate your concern though! 122/123: Nah…I had great recommendations. I appreciate your concern though!

]]> http://abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/comment-page-4/#comment-183416 guest Thu, 18 Feb 2010 15:56:17 +0000 http://wp.abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/#comment-183416 A ninth year associate here is probably making what a fifth year does at MoFo, since our bonuses are way below market. Thanks greedy Dickstein Shapiro equity partners for freezing us then lowering the pay scales to freeze us again. A ninth year associate here is probably making what a fifth year does at MoFo, since our bonuses are way below market. Thanks greedy Dickstein Shapiro equity partners for freezing us then lowering the pay scales to freeze us again.

]]> http://abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/comment-page-4/#comment-183415 guest Thu, 18 Feb 2010 15:49:42 +0000 http://wp.abovethelaw.com/2010/02/mofo-back-to-160k-and-good-bonus-news/#comment-183415 A ninth year associate here is probably making what a fifth year does at MoFo, since our bonuses are way below market. Thanks greedy Dickstein Shapiro equity partners. A ninth year associate here is probably making what a fifth year does at MoFo, since our bonuses are way below market. Thanks greedy Dickstein Shapiro equity partners.

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