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GreysAnatomy

Associate Bonuses

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I have no idea where you are and @QuincyWagstaff is right, this has been discussed before. However, I'll save you some leg work and tell you what I know. 

In Toronto (Bay) bonuses are typically between 10% and 30%. Different firms have different criteria for bonuses, it's usually a combination of your billable hours, your non-billable hours, the contributions you have made to the firm and how well the firm did that year. Some firms have very structured bonus guides (i.e. if you hit target - 10%, if you're 100 hours over 20%, if you're 200 hours over - 30%) etc. but many firms have no guidance. 

Also - for many firms, the "stub" year for first year associates (i.e. from September-December) is exempt from a bonus, but sometimes if you made a significant contribution, you might snag a nice pro-rated bonus.

Usually the conversation about bonuses happens end of January/early February and you usually get them before the RRSP deadline (March 1)

I think that about covers it. 

Edited by TheScientist101
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Outside of GTA, Midsized firms bonuses are usually around 10-20%. My experience has been that there are  two targets (one targets for the min. hours billed, and one target for getting the bonus). Usually paid in February. 

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On 12/2/2020 at 6:38 PM, TheScientist101 said:

I have no idea where you are and @QuincyWagstaff is right, this has been discussed before. However, I'll save you some leg work and tell you what I know. 

In Toronto (Bay) bonuses are typically between 10% and 30%. Different firms have different criteria for bonuses, it's usually a combination of your billable hours, your non-billable hours, the contributions you have made to the firm and how well the firm did that year. Some firms have very structured bonus guides (i.e. if you hit target - 10%, if you're 100 hours over 20%, if you're 200 hours over - 30%) etc. but many firms have no guidance. 

Also - for many firms, the "stub" year for first year associates (i.e. from September-December) is exempt from a bonus, but sometimes if you made a significant contribution, you might snag a nice pro-rated bonus.

Usually the conversation about bonuses happens end of January/early February and you usually get them before the RRSP deadline (March 1)

I think that about covers it. 

This is great thank you!

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