BigLaw — Associate negotiation?

[Anonymous]

Curious whether, in this market, associates in Big Law have any room to negotiate with firms as to specific benefits or comp package? It seems like firms are concerned about retention and are trying to take measures to retain associates more generally — any stories of specific measures to retain specific associates that is outside of this general process? My impression is that compensation and annual bonus is lockstep across the firm; are retention bonuses a thing? I have assumed that the only requests an associate could make in this sort of negotiation is with respect to work (specific projects, specific types of skills/experiences, etc) but perhaps that assumption is misguided or less true in hot markets?

[Anonymous]

Some firm are lockstep, others aren't. Sometimes if the firm really wants you you can negotiate things like class year or a larger bonus in your first year. Depends on your circumstances.

[Anonymous]

The only thing I've seen people successfully negotiate in terms of retention (vs signing bonuses for poaching) is early advancement (counsel or partner). If you're at Jones Day, Kirkland, or other firms known to throw money around in less conventional ways, YMMV, but the firms I have worked at, you'd be laughed out of the room asking for cash.

I don't know what "specific benefits" means so I'd need more information on that.

[Anonymous]

Corp associates can get six figure signing bonuses for lateraling, so I wouldn't be shocked if a well-regarded associate could get extra comp, especially if he or she is sitting on another offer.

Some 2013 grads are also getting title boosts (besides at firms like K&E that make everyone partner); that might be negotiable as well. Of course it often means little change in comp and no increase in job security.

[Anonymous]

I suspect this will backfire in much the same way any other employee tries to leverage another job offer to get a raise.

Now, if you're willing to lateral you can probably negotiate a substantial signing bonus depending on your practice area. I know that there are several biglaw firms offering substantial bonuses for attorneys with securities law experience.

[Anonymous]

OP here. Backfire how? I’m a senior associate and not really trying to leverage anything — honestly exploring a move to government for various reasons though unsure about whether it’s best. Staying is still on the table, but I’m not sure what they could offer that would make me substantially rethink how I’m thinking about the move.

[Anonymous]

LOL why do associates continue to think they have any leverage?

[Anonymous]

Anonymous wrote:OP here. Backfire how? I’m a senior associate and not really trying to leverage anything — honestly exploring a move to government for various reasons though unsure about whether it’s best. Staying is still on the table, but I’m not sure what they could offer that would make me substantially rethink how I’m thinking about the move.

Firms want senior associates to leave. No one is going to entice you to stay unless it’s because you’re up for promotion.

[Anonymous]

Anonymous wrote:OP here. Backfire how? I’m a senior associate and not really trying to leverage anything — honestly exploring a move to government for various reasons though unsure about whether it’s best. Staying is still on the table, but I’m not sure what they could offer that would make me substantially rethink how I’m thinking about the move.

If you're a senior associate hitting billables you should be clearing >$500k this year with special and regular bonuses. What kind of retention bonus are you envisioning that would make you "substantially rethink" a move to the government? Another $100k? $250k?

If you'd leave $529k it just seems weird to stay for $579k.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. Backfire how? I’m a senior associate and not really trying to leverage anything — honestly exploring a move to government for various reasons though unsure about whether it’s best. Staying is still on the table, but I’m not sure what they could offer that would make me substantially rethink how I’m thinking about the move.

Firms want senior associates to leave. No one is going to entice you to stay unless it’s because you’re up for promotion.

Pretty much this. Everybody thinks they are the exception but they are the rule.

[Anonymous]

Senior associates are being hired by rival firms as counsel or even partner (depending on practice group). If you're busy and well-regarded a title bump might be attainable, which often comes with a small increase in comp.

Might as well take advantage of the current biglaw climate because it won't last.

[Anonymous]

OP, are you trying to get you firm to pay you some sort of bonus to stay at the firm? And if they won't, you are saying you'll leave and go to government?

If you are a senior associate shouldn't you know by now if you are realistically on partner track? If not, then I can't imagine they are going to give you any sort of bonus to stay.

If they are in need of associates in general, then that might make a difference.

[Anonymous]

OP here. Result of convo was title bump next cycle. I wasn’t looking for increased comp, as that’s obviously not fueling my search. Mostly some sense of progression.

[Anonymous]

Anonymous wrote:OP here. Result of convo was title bump next cycle. I wasn’t looking for increased comp, as that’s obviously not fueling my search. Mostly some sense of progression.

So “counsel”? How many titles are there really in biglaw? I’m surprised title was your goal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. Result of convo was title bump next cycle. I wasn’t looking for increased comp, as that’s obviously not fueling my search. Mostly some sense of progression.

So “counsel”? How many titles are there really in biglaw? I’m surprised title was your goal.

OP here. I guess I’m not creative or imaginative enough — I honestly don’t know what else the goal can/should be?! It’s not money unless something substantial, as 10k or even 50k doesn’t feel significant anymore. They’ve told me they will try to make whatever opportunities I’m interested in in terms of professional development happen. Part time is a possibility. I think the door is still open for conversation — what more should I ask for!