‘I see MONEY in my future!’
Thanksgiving is two weeks away, which means that bonus season is right around the corner. Wouldn’t it be nice if your law firm gave you a little something extra to be thankful for this year (on top of the midsummer raise)? We sure think it would be! As a little reminder — as if you really needed one — this is what last year’s Cravath bonuses looked like:
Class of 2017 — $15,000 (pro-rated)
Class of 2016 — $15,000
Class of 2015 — $25,000
Class of 2014 — $50,000
Class of 2013 — $65,000
Class of 2012 — $80,000
Class of 2011 — $90,000
Class of 2010 — $100,000
Class of 2009 — $100,000
Your Definitive Resource On Decrypting Crypto, Digital Assets, And Web3
"Decrypting Crypto" is a go-to guide for understanding the technology and tools underlying Web3 and issues raised in the context of specific legal practice areas.
For those of you who are wondering when your bank accounts will be a little more flush, here’s a list of the dates when year-end market bonuses hit Biglaw since 2006, the very first year Above the Law started publishing bonus news. Take a look:
- 2017: November 27 (Cravath)
- 2016: November 28 (Cravath)
- 2015: December 7 (Cravath)
- 2014: November 21 (Simpson Thacher)
- 2013: December 2 (Cravath)
- 2012: November 26 (Cravath)
- 2011: November 28 (Cravath)
- 2010: November 22 (Cravath)
- 2009: November 2 (Cravath)
- 2008: November 19 (Skadden)
- 2007: October 29 (Cravath)
- 2006: December 11 (Cravath)
With visions of bonus dollars dancing in your heads, it’s time to check in on how people are doing with their billable hours. There are just about seven weeks to go in 2018, and this year, with expenses up across the board thanks to Biglaw’s base salary increase from $180K to $190K, hitting your targets this year is very, very important. Some firms might make bank-busting payments that will generate sweet headlines, but not all associates will hit the hours mark necessary for the top payment.
Still, with about a month and a half to go, there’s plenty of time to game your stats. Now that holiday season has arrived, attorneys may start dragging out their assignments — after all, some hours here and there could mean a world of difference.
Why Some Firms Are Leading The Market With Generative AI
A culture of innovation with strategic AI like Lexis+ AI is revolutionizing law firms by boosting efficiency and deepening client relationships.
So how are people doing? Take our poll, and get a sense of how many hours your peers are on pace to hit in 2018. While you’re at it, let us know when you think this year’s bonuses will drop, and whether they’ll be higher or lower than last year’s bonuses.
[poll id=”693″]
[poll id=”694″]
[poll id=”695″]
Remember everyone, we depend on your tips to stay on top of important bonus updates, so when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.
And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks for all of your help!
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.