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

Of our compensation and promotion decisions limits

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of our compensation and promotion decisions limits how transparent the system can be. In my experience, the performance reviews are detailed and focused so that associates are well-aware of their internal standing.” • “Partners work side by side with associates, take time to provide meaningful training and mentorship, and are respectful to associates.” • “There is not a lot of transparency when it comes to com- pensation after year 4, so it is hard to tell where you stand in terms of compensation with respect to other associates. Partners are generally supportive of associates.” • “The partners I have interacted with have been very res- pectful and act as mentors. I do not feel uncomfortable going to them with questions, and I am able to ask them for work directly rather than going through a mid-level associate. Transparency could be improved, as it is difficult to tell how many hours I really need to hit in order to keep my job. The firm recently got rid of the billable hours requirement, but it seems that the hours requirement was unofficially increased because the number of hours required to automatically get a bonus is 200 hours higher than the old billable hours requirement. The firm could promote transparency by telling associates how many hours they should really be reaching each year, rather than being told “not to worry about it.” Hours • “We are given a large amount of work, but they are flexible to work outside the office/non-traditional hours. The firm makes an effort to put young associates in front of clients.” • “The amount of work can sometimes be a little too much. However, most of the time the workload is not excessive. In general, the amount of face-time required depends on your practice group. For me, it is not over-emphasized, though it is always important to have some face-to-face interactions.” • “No billable hours requirement, but 2000 is what to shoot for.” • “Hours can be long and expectations can be high. Work is always the priority. Face-time is not required and firm is very supportive of working remotely.” Compensation • “We recently increased to market salary for the first four years. Our bonuses are well below market. Our raises/bonuses are due in about a month, and are the first since the raise to market compensation, so that will be telling.” • “I feel satisfied; any qualms I have would be related to the firm’s differentiation between legal markets and cities and how that impacts salaries. Entry-level attorneys in NY and DC, for example, make more than I would as a 3rd and 4th year, which doesn’t feel great.” • “The compensation is mostly fair given the firm’s practices and business plan. However, it probably could be increased by 5-10% to be more competitive, particularly with respect to bonuses.” • “Despite working tier 1 hours, both the base compensation and bonus structure is below market. The firm has made efforts to fix this, but the compensation still falls short.” Quality of Work
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  • Fall '16
  • Hugard

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