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Are Attorneys Satisfied With 2010 Bonuses?

It’s that time of year when law blogs are abuzz with stories and rumors about associate bonuses in BigLaw land.  A popular website for BigLaw associates – Above the Law – has a “Bonus Watch 2010” section where readers can click to view the latest scoop on how much money various firms are dishing out for last year’s billable hours.  The Wall Street Journal recently wrote and blogged about them as well.  Law Firms Hold Line In Setting Bonuses (WSJ December 27, 2010).  What do we learn from these stories?


Well, for starters, we learn that, despite the average billable hours increasing by 7% at the nation’s top 50 law firms in 2010, many firms are handing out bonuses that are only marginally better than 2009.  We also learn that Cravath’s bonuses are the benchmark of sorts, ranging from $7500 for first-years to $35,000 for senior associates.  See, Wall Street Journal Blog; see also Above the Law discussion re Gibson Dunn bonuses  (noting that, although Gibson Dunn pays individualized bonuses rather than lock-step ones, they relied heavily on the Cravath scale) and Above the Law discussion re Elkins bonuses (noting that Vinson & Elkins’ bonuses are supposed to be better than the Cravath scale).  In addition, we learn that some firms, like Irell & Manella, are paying bonuses that double the Cravath ones. To save you from doing the math, that’s a range of $15,000-$70,000 for bonus pay.  

What we already knew is that, regardless of the year and the bonus paid that year, there will always be many unhappy associates.  I recognize that bonus pay of $15-70,000 a year may seem excessive to some, particularly to those who have never worked in BigLaw, but I also know how hard most of these associates work and the sacrifices many of them make to crank out the hours they bill, so I wouldn’t touch the propriety of these bonuses with a ten foot pole.

What had me curious was the level of satisfaction associates had with their bonuses.  I can still vividly recall those first few bonus seasons I experienced many moons ago as a baby lawyer in a big firm.  Emails would start flying the day that the managing partner wore his “Santa tie” because that was the day bonuses were handed out.  Bonuses were supposed to be confidential but most wanted to know how theirs compared to others, and many associates frequently seemed to base their own satisfaction on that comparison.  I also recall a more senior associate who had purportedly received several fairly hefty year-end bonuses warning us younger folks that these big bonuses were not worth it.  He would have preferred to work less and make less but, like most associates in big firms, he didn’t have that choice.  Turns out he’s not alone.

On January 13, Above the Law blogged about associates’ satisfaction with their 2010 bonuses, based on a Career Center Survey that also broke down bonus satisfaction by hours billed.  According to the survey, for the number of hours billed, associates were evenly split about their bonuses — 29% were satisfied and 29% were not satisfied.  Thirty-eight percent were at firms that hadn’t announced bonuses yet.  It probably comes as no surprise that the survey revealed a general pattern that, as the number of hours billed increased, those who were satisfied with their bonuses decreased.  Of those who billed less than 1900 hours in 2010, 29% were satisfied.   Of those that billed 2400-2499 hours, 5% were satisfied.

Having left my Big Firm life a year ago for a career as a freelance attorney (thanks to the support of my amazing spouse), my perspective on bonuses has changed quite a bit.  My bonus was the extra time I spent with my family in Iowa, my husband on date nights, my kids’ school and sporting activities, and my volunteer work through CASA.  It’s far from being stress-free and there are many attorneys in BigLaw who manage to do those things and bill full time hours too (I admire you all tremendously!) but I’m happy with my bonus.  Are you?


Amy Leinen Guldner joined Montage Legal Group in January, 2010 after practicing for over thirteen years at Morgan Lewis & Bockius LLP and Snell & Wilmer LLP.  In addition to her legal work and caring for her two young children, Amy is a volunteer Court-Appointed Special Advocate with CASA of Orange County, mentoring and advocating in court on behalf of abused and neglected children. She also volunteers with the Constitutional Rights Foundation’s High School Mock Trial tournaments.

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