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About Carolingian

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  1. I'm hoping someone can give me some insight into the bonus structures at big law firms (specifically the sister firms). Of course I've looked up the starting salaries for associates (using the NALP directly), and most firms say first-year associates are eligible for bonuses, so that's definitely encouraging. I spoke with a small-town lawyer whose firm uses the following structure: multiply your base salary by 2.5, once you've earned that much in revenue (from your billable hours), any money that comes into the firm beyond that, you get 45%. So, for example, if your salary is $50,000, your target is ($50,000 x 2.5) = $125,000. Let's say your hourly rate is $200 and you work 1100 billable hours (remember, this is small town). Then, after the first ($125,000 / $200) = 625 hours, you're earning 45% of your billable hours, so your bonus would be: 1100 hours - 625 hours = 475 hours 475 x $200 per hour = $95,000 Bonus: $95,000 x 45% = $42,750 For a total compensation of: $50,000 + $42,750 = $92,750 Is this structure similar to Big Law? Looking at past threads, I've read mentions of "lockstep" bonuses as well as more subjective bonuses. Any insights are appreciated!
  2. Entrance scholarships are automatic (don't need an application) and the letter I got after accepting my offer said recipients of entrance scholarships were to be notified in March 2019. So I just wanted to see if anyone had yet received their entrance scholarships. All other scholarships, bursaries and awards require an application, and those have a deadline of May 1st.
  3. Has anyone heard back about scholarships (particularly entrance scholarships)? Yesterday was the last business day of the month and as we've noted, we could expect to be informed by the end of the month. Just curious if I can interpret the silence from UofC as "no, you didn't get a scholarship".
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