I know what the bonus amounts have been at lockstep firms for the past couple of years as the market has been hot, but I'd really like to know what bonuses were like in earlier years.
If the economy continues to tank, will firms cut out all bonuses for 2008?
(4) Comments
Enter your email address and start enjoying
Above The Law today!
Who graduates in October and then doesn't pass the bar until October of ...
There are two sorts of people who say positive things about the United S...
Anyone who thinks that the Fed. Cir. is a Busch-League court is an utter...
Tax Man: This post makes no sense. You ask about bonuses in earlier years and then ask if there will be any for 2008? First, who cares about bonus payouts in past years - are you looking to audit questionable returns submitted by biglaw folks? Second, "if the economy continues to tank" pretty much says it all. Do you have any basic sense of business?
Christ, wish associates at biglaw (or wannabes) would clue into fact that "biglaw" describes more the firm and its practices/clients, as opposed to them...
I don't think it's such an unreasonable question. That is, what happened in 2001 following the layoffs that occurred? Did bonuses dry up altogether, or did firms still pay out year-end bonuses?
For example, Williams & Connolly raised their starting base to $180K earlier this year (but they pay no bonuses). Can we expect lockstep firms to have a minimum $20K bonus (class of 2007) for 2008?
It's entirely foreseeable (and perhaps likely) that even if things don't go well that firms still pay out generous bonuses in 2008. I merely ask to know what the general consensus is - will bonuses drop, stay flat, or increase (probably impossible after last year's "special bonuses") for 2008?
5:17, you are a complete idiot and were not able to grasp Tax Man's quesion. Don't take your lack of reading comprehension out on him.
I really don't know about earlier years, but perhaps Litigation and Restructuring will pick up enough by year-end to make firms comfortable enough with big bonuses? One can hope...