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Originally Posted by Unregistered
Hi, currently a trainee at a big four firm and have a general question about salaries.
I understand that salaries for associates at big four firms are frontloaded. Are we still eligible for a bonus, and if so, how is the bonus computed - how many months can we expect to get? Some posts on this forum have said that associates can get 6-9 months of bonus but I'm not sure if thats still relevant now since salaries are front loaded, and also 6-9 months sounds really generous. I know the recession will probably change things and bonuses will be low but i'm wondering about the "norm"
Also, are senior associate salaries front loaded as well or is it all performance based?
When I was interning at Drew, one of the partners told us that lawyers at Drew will be highly rewarded and there is no lock step system, "you will not have your light dimmed by the collective shade of everyone else" if you are a good performer. Is that actually true...?
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The front-loading thing may become a thing of the past. Half of the big 4 do not / no longer have it.
Even with front-loading, historically the bonus at big 4 firms (but excluding the special high-flying teams) tended to range from 0-3 months (based on front-loaded monthly pay), depending on performance (which isn't only based on the individual associate's performance). There are, of course, exceptions. The 0-3 months' range broadly correlates with 6-9+ months' bonus calculated against base pay (i.e. without front-load) spread over the 12-months' period.
Senior associate salaries tend to have the same structure as junior associates. However, note that some firms more readily give bigger increments to good performers, while others adhere more closely to the 'lock-step' norm.
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When I was interning at Drew, one of the partners told us that lawyers at Drew will be highly rewarded and there is no lock step system, "you will not have your light dimmed by the collective shade of everyone else" if you are a good performer. Is that actually true...?
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I think this is a matter of degree - this shouldn't be seen as a binary ("no lock-step" v "100% lock-step").