Vault Guide to the Top 100 Law Firms, 2018 Edition.pdf

We are told that confidentiality of compensation is a

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We are told that confidentiality of compensation is a benefit to us, but sometimes I think Jones Day leverages it to reduce the need to keep up with astronomical market rates at other top firms.” Hours • “It is no secret that at firms such as Jones Day, attorneys will be working a lot of hours. However, associates at all levels are exposed to quality opportunities, often assisting with cutting edge deals and litigation. Additionally, sometimes ‘face- time’ is necessary but attorneys often have the flexibility to work from home or other locations. Having children myself, other than in the case of emergency client work, I have never felt pressure to miss a performance or event they were participating in.” • “Although the firm says face-time isn’t required, I don’t buy it. Most of the first years would never leave before 7 PM, even if they’re just twiddling their thumbs. The work is stimulating and I appreciate being given more responsibility than the average first year, but the volume of work is consistently heavy. I suppose that’s what we signed up for.” • “I don’t often work on the weekends, and when I do, it’s either my fault, or it’s an all-hands-on-deck moment. I’ve had several different partners wait to assign a project on Monday morning rather than Friday evening.” • “No real face-time requirement (though obviously helpful in finding work). Work isn’t evenly distributed as the reward for good work tends to be more work. Also, there have not been many mid-level lateral hires lately, so when mid-levels leave, juniors often step up into the role (and maintain responsibility for the work they already had).”
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© 2017 Inc. 188 Vault Guide to the Top 100 Law Firms, 2018 Edition JONES DAY Compensation • “Peer firms pay more. That a V20 firm is paying less than its peers in total comp is astounding, and Jones Day definitely cannot claim to be a work life balance firm. Jones Day does not upgrade annual salary until July, and although bonuses are supposed to be folded in to total compensation, the salary generally is not high enough to reflect market rate bonuses. You can easily be making 20-30k less than peers of the same class year at other firms (assuming you hit your billables).” • “No bonuses isn’t ideal, though I believe it has a cultural/ work-life tradeoff that is overall a net positive. Overall, we are probably compensated slightly less than our Vault Top 20-25 peers, but at my relatively junior (third-year) level, the difference is not stark. And what is lost in compensation is, in my view, made up for in firm culture, greater opportunity for partnership, and other things.” • “We are completely underpaid. We are paid well below market for similar size firms. We are not given bonuses. Our benefits are terrible compared to other firms. But we are still expected to bill the same amount as equal size firms.” • “I think blackbox compensation is not a strong selling point for the firm, and many current associates feel
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  • Fall '16
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