2019 Summer Bonus Discussion

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Expand view Topic review: 2019 Summer Bonus Discussion

Re: 2019 Summer Bonus Discussion

by Slytherpuff » Tue Jun 11, 2019 10:49 am

Br3v wrote:
Tue Jun 11, 2019 7:12 am
Are we getting NOBONUSED?
Too soon to tell!

Re: 2019 Summer Bonus Discussion

by Br3v » Tue Jun 11, 2019 7:12 am

Are we getting NOBONUSED?

Re: 2019 Summer Bonus Discussion

by BigZuck » Thu May 30, 2019 3:53 pm

Jubo wrote:
Thu May 30, 2019 2:43 pm
I have a friend who works at Paul, Weiss who claims to have overheard one partner talking to another (before a meeting with Nintendo in-house) complaining that the upcoming summer bonus is "excessive."
Bless you.
Slytherpuff wrote:
Thu May 30, 2019 3:04 pm
Let's keep talking about it until we make it happen.
(Gets it)
Nony wrote:
Thu May 30, 2019 2:56 pm
BigZuck wrote:
Thu May 30, 2019 1:42 pm
Dr Nefario wrote:
Thu May 30, 2019 11:36 am
I don’t think it’s happening y’all.
Moderators: Please.
I love that it is this thread that lured you back into posting.
Let’s be real the money is the only thing that motivates BIG LAWYERS

Also (and somewhat relatedly) I just barely got a Peloton so I don’t quite feel equipped to post in that thread yet.

Re: 2019 Summer Bonus Discussion

by Slytherpuff » Thu May 30, 2019 3:04 pm

Let's keep talking about it until we make it happen.

Re: 2019 Summer Bonus Discussion

by Nony » Thu May 30, 2019 2:56 pm

BigZuck wrote:
Thu May 30, 2019 1:42 pm
Dr Nefario wrote:
Thu May 30, 2019 11:36 am
I don’t think it’s happening y’all.
Moderators: Please.
I love that it is this thread that lured you back into posting.

Re: 2019 Summer Bonus Discussion

by Jubo » Thu May 30, 2019 2:43 pm

I have a friend who works at Paul, Weiss who claims to have overheard one partner talking to another (before a meeting with Nintendo in-house) complaining that the upcoming summer bonus is "excessive."

Re: 2019 Summer Bonus Discussion

by BigZuck » Thu May 30, 2019 1:42 pm

Dr Nefario wrote:
Thu May 30, 2019 11:36 am
I don’t think it’s happening y’all.
Moderators: Please.

Re: 2019 Summer Bonus Discussion

by Dr Nefario » Thu May 30, 2019 11:36 am

I don’t think it’s happening y’all.

Re: 2019 Summer Bonus Discussion

by Slytherpuff » Tue May 28, 2019 12:41 pm

I'm not holding my breath but wow, that would be amazing if summer bonuses happened in major markets again this year.

Re: 2019 Summer Bonus Discussion

by cfcm » Fri May 24, 2019 7:57 pm

Re: 2018 Bonus Discussion

by shredlife » Wed Jan 23, 2019 8:14 am

Slytherpuff wrote:
Wed Jan 23, 2019 8:04 am
shredlife wrote:
Wed Jan 23, 2019 7:48 am

do you not get, or is it actually not standard/common to get regular (e.g., monthly) reports showing your write downs, discounts, billed hrs/revenue, etc.? I always have, and kinda figured that was par for the course. Helps a lot to see..
For all I know that could be standard practice! At my firm we get some of this information but not all of it, and it's more of an average basis rather than monthly by the time the report updates. Partners can probably see more information.
right gotcha :) it has only recently that I've gotten real introspective trying to figure wtf I wanna do... That I've realized I have no idea which of things that I like..and hate..are actually the same across law/biglaw/my relatively smaller region/my practice group/or just my firm

I cant imagine not having it, but then again I also can't imagine these bottomless budgets mentioned either, lol

Re: 2018 Bonus Discussion

by Slytherpuff » Wed Jan 23, 2019 8:04 am

shredlife wrote:
Wed Jan 23, 2019 7:48 am
Slytherpuff wrote:
Tue Jan 08, 2019 9:41 am
We're always right up against the budget for one of my big cases that's in discovery so I think a ton of my work is getting written off right now (and that's a client that needs incredibly specific details for everything you're doing).

The closest I've done to "review diligence documents" is for one of my older cases where I can just put down a nicer sounding version of "review and analyze x complaint" or "draft/revise x motion/brief/whatever." Billing seems to be a lot easier in the MTD stage.
do you not get, or is it actually not standard/common to get regular (e.g., monthly) reports showing your write downs, discounts, billed hrs/revenue, etc.? I always have, and kinda figured that was par for the course. Helps a lot to see..
For all I know that could be standard practice! At my firm we get some of this information but not all of it, and it's more of an average basis rather than monthly by the time the report updates. Partners can probably see more information.

Re: 2018 Bonus Discussion

by shredlife » Wed Jan 23, 2019 7:48 am

Slytherpuff wrote:
Tue Jan 08, 2019 9:41 am
We're always right up against the budget for one of my big cases that's in discovery so I think a ton of my work is getting written off right now (and that's a client that needs incredibly specific details for everything you're doing).

The closest I've done to "review diligence documents" is for one of my older cases where I can just put down a nicer sounding version of "review and analyze x complaint" or "draft/revise x motion/brief/whatever." Billing seems to be a lot easier in the MTD stage.
do you not get, or is it actually not standard/common to get regular (e.g., monthly) reports showing your write downs, discounts, billed hrs/revenue, etc.? I always have, and kinda figured that was par for the course. Helps a lot to see..

Re: 2018 Bonus Discussion

by lolwat » Wed Jan 23, 2019 2:19 am

beep wrote:
Sun Jan 20, 2019 12:30 pm
pretty much what lolwat said, though at my firm i'm usually encouraged to also put what the research/review is for

e.g. "research [specific sub-area of relevant law / doctrine] in preparation for [motion/filing/letter/etc]"

probably varies by partner/client as well
Yeah, we're encouraged to put as much detail as possible without it turning dumb, mostly so we don't end up with a giant block of like 8 hours to a single thing. Outside of a few things like attending trial/hearings we generally don't have a single entry over like 3-4 hours because after that it can almost always be broken up into smaller pieces that look better to the client. It's an annoying billing thing but it's like the difference between two entries of "draft introduction section of brief 2.0" plus "draft background section of brief 3.0" versus one entry of "draft brief 5.0."

Re: 2018 Bonus Discussion

by riot » Sun Jan 20, 2019 2:37 pm

BigZuck wrote:
Sun Jan 20, 2019 2:21 pm
riot wrote:
Sun Jan 20, 2019 1:16 pm
*bills 20 hours over holiday weekend to “Draft S-4.”*
Tomorrow will you still be drafting or will you have moved on to the “review and revise” stage?
I like to switch to review and revise after it comes back from the senior associate/partner with comments. It’s a personal stylistic choice and I only get to make so many of those you know?

Re: 2018 Bonus Discussion

by BigZuck » Sun Jan 20, 2019 2:21 pm

riot wrote:
Sun Jan 20, 2019 1:16 pm
*bills 20 hours over holiday weekend to “Draft S-4.”*
Tomorrow will you still be drafting or will you have moved on to the “review and revise” stage?

Re: 2018 Bonus Discussion

by riot » Sun Jan 20, 2019 1:16 pm

*bills 20 hours over holiday weekend to “Draft S-4.”*

Re: 2018 Bonus Discussion

by beep » Sun Jan 20, 2019 12:30 pm

pretty much what lolwat said, though at my firm i'm usually encouraged to also put what the research/review is for

e.g. "research [specific sub-area of relevant law / doctrine] in preparation for [motion/filing/letter/etc]"

probably varies by partner/client as well

Re: 2018 Bonus Discussion

by lolwat » Sun Jan 20, 2019 12:04 pm

riot wrote:
Mon Jan 07, 2019 9:08 pm
What do you even put in a litigation bill?
review (specific docs/sets of docs)
conduct legal research into (topic)
draft (discovery/motion/brief/whatever other document)
prepare for/attend (hearing, deposition, trial)
etc.

Re: 2018 Bonus Discussion

by altoid » Fri Jan 18, 2019 9:04 pm

riot wrote:
Wed Jan 02, 2019 9:10 pm
had a nice lol at the idea of clients being able to discern the difference between associate a and associate b billing 8 and 16 hours of “review and markup merger agreement” on their respective deals

They have a pretty good idea in finance practices unless it is something really unique or unforeseen issues came up. Like the banks do those type of deals all the time—they will notice if one is double the typical amount.

Re: 2018 Bonus Discussion

by Slytherpuff » Tue Jan 08, 2019 9:41 am

We're always right up against the budget for one of my big cases that's in discovery so I think a ton of my work is getting written off right now (and that's a client that needs incredibly specific details for everything you're doing).

The closest I've done to "review diligence documents" is for one of my older cases where I can just put down a nicer sounding version of "review and analyze x complaint" or "draft/revise x motion/brief/whatever." Billing seems to be a lot easier in the MTD stage.

Re: 2018 Bonus Discussion

by riot » Mon Jan 07, 2019 9:08 pm

What do you even put in a litigation bill?

Re: 2018 Bonus Discussion

by riot » Mon Jan 07, 2019 9:08 pm

I just want everyone ITT to know that I have billed over 40 hours to “review diligence documents” in the past five days.

Re: 2018 Bonus Discussion

by Desert Fox » Mon Jan 07, 2019 8:41 pm

riot wrote:
Wed Jan 02, 2019 9:10 pm
had a nice lol at the idea of clients being able to discern the difference between associate a and associate b billing 8 and 16 hours of “review and markup merger agreement” on their respective deals
This might be a difference between lit and Corp. but in lit we often have budgets that need to be stuck too (or at least near). Partners hate people who blow the budget on clear bullshit. Those hours get cut just to make the bill fit.

Galaxy brain is when the attorneys can figure out which bills can get blowed up and which can’t.

Creditor side bk? This bill shall know no limits.

I imagine V5 M&A is the no limits style.

Re: 2018 Bonus Discussion

by James Baxter » Thu Jan 03, 2019 1:39 am

lolwat wrote:
Wed Jan 02, 2019 11:08 pm
riot wrote:
Wed Jan 02, 2019 9:10 pm
had a nice lol at the idea of clients being able to discern the difference between associate a and associate b billing 8 and 16 hours of “review and markup merger agreement” on their respective deals
Some clients require a lot more detail than that. It may also just be more obvious in litigation. I can't just write "conduct legal research and draft motion xxx." Practically none of the clients we have would accept that. The biggest block I could have probably gotten away with was something like "attend trial proceedings for (day)" because the clients are OK knowing you were working from 9am to 4:30pm or whatever court hours are, plus breaks/lunches.
Oh man, I don’t know what I’d do without “attend to closing matters”

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