For ease of reference, here is a table showing the Davis Polk and initial Simpson Thacher bonus scales. (“Initial,” because Simpson — which deserves credit for starting bonus season early and on a strong note — subsequently followed Davis.)
DPW – STB – Difference
2014: 15 – 15 – 0
2013: 15 – 15 – 0
2012: 25 – 25 – 0
2011: 50 – 40 – 10
2010: 65 – 55 – 10
2009: 80 – 70 – 10
2008: 90 – 85 – 5
2007: 100 – 100 – 0
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And here are the reactions from Sidley sources. In several cases, we have made details like billables more vague — e.g., replacing a specific number with something like “over 2000” or “over 2200” — to protect tipster anonymity.
Sidley class of 2010. Over 2000 billed. Very good reviews. $50,000. Looks like all the upper classes got $5,000 or more less than the pre-DPW STB scale. Still a lot of money, [but the] bad part is the email said it’s based primarily on quality of work. So either we all suck or they need to reword their email.
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Sidley Chicago bonus:
Class of 2012: billed 2200 = $25k
Class of 2011: billed “2000 and change” = $40k
Also hearing that there are no additional bonus amounts paid until over 2300 hours. Folks generally seem to be a little bummed that we’re not matching what is the new market. Hearing more general feedback that bonuses were below market… and more general feedback that people are upset about it.
Sidley Austin bonuses below STB scale. $20k for 2012 and hearing 2010 was approximately $50K, so also below STB scale.
Sidley associate here, met 2000 hours and got great reviews, but got well below Simpson scale. It seems like it took 2200 to get Davis scale based on other associate reports.
[P]eople were not “rewarded” for working hard and now those extra hours were entirely for naught…. This was a place known for giving back what you put in – apparently that changes when real money is involved. But hey, at least we don’t have any debt, right? (rolling eyes).
It seems Sidley missed the memo on the STB/DPW scale [for junior associates] and was working off of the 2013 rates. Two associates who were modestly above the hours cutoff received bonuses above the 2013 rates, but below the STB/DPW rates. Two other associates who were very high billers received at or slightly above the STB/DPW rate (and thus significantly above the 2013 rates).
Also, I’m pretty sure the single most important factor for Sidley bonus amounts is billable hours, and that pro bono hours and work quality matter little. I’m disappointed, obviously.
Mid-level in Chicago. Billed well in excess of 2k and got DPW. Know others who billed really high hours (north of 2.5k) and got DPW scale and know one associate that billed just over 2k and got [a fraction of the] DPW scale. Not clear if the firm is trying to send a message to that one associate.
It is not clear what the firm is doing but there is less transparency than in past years (where the firm was unofficially pretty open about the fact that it matched scale for 2k and paid high billers 5-10% more).
Sidley New York – fairly senior associate – more than 2000 hours – matched DPW.
Bonuses were distributed at Sidley Chicago yesterday and the consensus appears to be that they are below market this year (about $20k for second year, slightly less than $50k for fourth year). No bonus for less than 2000 and firm contributions like recruiting still not counted. People seem disappointed with amounts especially given it has been a fairly busy year on the deal side and associate billing rates outside of NY were bumped up a notable amount this past year.
UPDATE (12/22/2014, 6:00 p.m.): One Sidley source — in New York, it should be noted — disputes the claim that people who didn’t hit 2000 got nothing: “The firm did pay a prorated bonus to at least some associates who billed lower than 2000 hours. It was extremely small — less than 1/3 of the Davis scale — but it’s not strictly true to say that they stiffed all low billers.”
Sidley Austin announced bonuses this year. Associates and counsel who did not hit 2400 hours are almost all being paid below market. Attorneys who hit 2400 hours and above are slightly above market ($5-$10k). Attorneys who did not hit 2000 billable hours got nothing.
I heard from one of the partners (who was disappointed, or seemed disappointed, by the numbers) that Sidley had bonus checks and the bonus memo ready to hand out prior to the Christmas party as done in years past. However, because the Firm was considerably below market, the partners decided to hold off on distributing numbers until after the party. According to my friends, folks in NY did at or near market, Chicago slightly below market on average, and folks in Texas and California were hit really hard – not close to market in many cases where attorneys had 2000+ hours. Unclear where other U.S. offices landed. Needless to say, phones were ringing off the hook today and attorneys generally very disappointed with the firm, particularly considering how well the firm is doing this year and what other “peer” firms are paying.
Sidley Austin Chicago, [midlevel to senior associate], over 2200 hours billed, Davis Polk scale.
Sidley senior associate. For last few years Sidley has always given well above market for those with great work and high hours. They’ve kissed that goodbye. Only matched the DPW scale. Apparently across class years. Very disappointing. Understand it’s a lot of money, but associates expected some token of recognition for all the hard work despite the large increase in market. Now we’re just as lame as everyone else that pays lockstep bonus.
Sidley Austin bonus for class of 2012, over 2200 hours – $25k. Have heard others are at or below market.
Hearing that bonuses across the board were below STB scale and for the applicable class years well below DP scale. Interesting in light of the fact that our billable rates were raised significantly this year (something like 30%) and at least the transactions practice groups have been very busy, though I am told by those with a longer tenure here that Sidley has a history of paying below-market bonuses.
Sidley Chicago midlevel/senior associate. Excellent reviews and over 2300 hours. I got the DPW amount for my class year.
Mixed feelings. Happy that market is high but either I’m getting the same bonus as people with 2000 hours and average reviews (not Sidley’s practice usually) or Sidley’s not paying top of market. Last year my bonus was almost 50% above market for my class. Wasn’t expecting that ratio this year but hoped for some token amount above market.
From what I was able to gather, Sidley didn’t give the traditional bump for people over 2200 and 2400. Hard to complain about a nice bonus but definitely a bit of disappointment among the rank and file who put in significant time and are used to being rewarded for those extra hours. I guess “discretionary” means “market” now.
Sidley Chicago 2013 – $15k. No stub year bonuses (I think no stub bonus is Chicago market practice).
I thought I’d express my serious disappointment with Sidley’s bonuses, which I consider well below market. If you’re looking to retain legal talent, this is not the way to do it. I am still in a state of disbelief, especially given the generous bonuses given out in the legal community generally.
SIDLEY AUSTIN — MEMORANDUM — U.S. ASSOCIATE BONUSES AND SALARY INCREASES
Lawyers’ pay: Bonus babies [The Economist via Morning Docket]
Earlier: Associate Bonus Watch: Which Biglaw Firm Is Shortchanging Its Associates?
Associate Bonus Watch: Sidley Austin