Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude

Associate Bonus Watch: So What's Up with O'Melveny & Myers?

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Maybe you can tell us. We heard that the associates’ meeting for O’Melveny & Myers’s New York office was muddled, with no clear answer or bright-line rules about the firm’s bonus policy. What we have gathered, however, is that the firm did not do a “true match” of year-end and special bonuses. Associates will be eligible for a special bonus based on their evaluations and their hours, but we’re not sure of the cutoffs for each.
Based on the bits and pieces that we’ve heard from secondhand sources, this comment seems to be basically accurate:

The “market” bonus will be determined in the usual fashion, basically a combination of your review and hours (including pro bono). There is no bright line on hours for this bonus.

The “special” bonus will be given to associates who get at least an average review (meeting expectations) and who hit a minimum billable hour requirement (also including pro bono). This number has not been finalized but will be no more than 1950. The billable hour requirement may change a little for different class years.

If you work at OMM and can provide us with a more definitive account or more details, please drop us a line. Thanks.

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