Mirror, mirror on the wall, whats the bonus after all?
McDermott “matched the market rate within two weeks” of the salary competitions of 2000, and nearly every associate received a bonus in 1999, ranging from $3,000 to $30,000. Nonetheless, McDermott seemingly seethes with malcontents, mainly due to the “extremely subjective” nature of the bonus system, which makes it “impossible to predict what your bonus will be.” The firm “would not commit to a fixed bonus amount,” snarls a New York litigator. “Instead, the firm advertises that associates can expect a bonus range of roughly zero to 22 percent of their base salaries.” Turn, turn, turn “Lately the corporate department in this place has been like a revolving door,” complains a New York first-year. Although the level of exodus seems to vary by department – in Boston, “the turnover in litigation is virtually non-existent” – the refrain sounds the same. “McDermott, Will & Emery has no interest in retaining associates,” accuses a Chicago lawyer. “McDermott uses them for a few years and then r
