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Career Center Survey Results: Bonus Satisfaction

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In a previous post, we revealed that 73% of respondents to our survey met their minimum billable requirements last year.  Today, we find out whether associates were satisfied with receiving 2009-level bonuses for a busier 2010.

Let’s see what the survey says….

Respondents were evenly split on their satisfaction with 2010 bonuses for the number of hours they billed.  Twenty-nine percent of respondents were satisfied with their bonuses, 29% of respondents were not satisfied with their bonuses, and 38% of respondents’ firms had not announced bonuses yet.

A closer look at the distribution of respondents who were satisfied with bonuses over the number of hours they billed reveals a general pattern that one might expect: as the number of hours billed increases, the percentage of respondents satisfied with their bonuses decreases.  But, if you were wondering, this group of satisfied associates was not entirely overrun by the likes of associates at Irell, Kirkland & Ellis, and Quinn Emanuel. 

Among the satisfied recipients of bonuses were a number of associates who work at Cravath, Davis Polk, Skadden, and other firms that matched the Cravath bonus scale.

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Number of hours billed in 2010

Percent satisfied with bonus

Less than 1,900

29%

1,900 – 1,999

13%

2,000 – 2,099

18%

2,100 – 2,199

8%

2,200 – 2,299

8%

2,300 – 2,399

7%

2,400 – 2,499

5%

2,500 and above

8%

Interestingly enough, the reverse (i.e., as the number of hours billed increases, so does the percentage of respondents dissatisfied with their bonuses) is not true for dissatisfied respondents.  Rather, the percentage of respondents not satisfied with their bonuses remains fairly constant even as billable hours increase.

Number of hours billed in 2010

Percent not satisfied with bonus

Less than 1,900

18%

1,900 – 1,999

9%

2,000 – 2,099

17%

2,100 – 2,199

13%

2,200 – 2,299

12%

2,300 – 2,399

7%

2,400 – 2,499

9%

2,500 and above
12%

For more information on all the law firms paying top dollar for bonuses, visit the Career Center website, powered by Lateral Link.  If you are not satisfied with your firm’s bonus payment and want to make a lateral move, Lateral Link’s experienced team of search consultants can help you.

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