Associate Bonus Watch 2010, Biglaw, Bonuses, Money

Associate Bonus Watch: Bingham Brings Bonus Bounty

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Over the past few weeks, as springtime bonus news trickled in, we heard from a few associates at Bingham McCutchen. The exact wording varied, but their messages all sounded the same theme: Shouldn’t one of the best places to work offer one of the best pay packages? Or at least a pay package consistent with Biglaw market rates?

One reader had this suggestion: “Can you guys keep a running list of firms that paid spring bonuses and firms that haven’t? Preferably alphabetical, so Bingham is near the top of the no-pay list.”

Well, happily, no such shame sanctions will be necessary. Bingham has jumped into the spring bonus pool. Let’s see what they’re offering….

Unlike the bonus announcements of some firms, Bingham’s is quite transparent (see the full memo below). It’s basically a match of the Cravath spring bonus scale, subject to some fairly standard requirements — that the associate be in good standing, bonus eligible in 2010, etc. The bonuses will be paid on May 2, 2011.

Props to Bingham for its generosity (both to its associates and to other worthy causes). Happy Friday!

Earlier: Prior ATL coverage of spring bonuses
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BINGHAM MCCUTCHEN — MEMORANDUM — SPRING BONUSES

From: Anthony J. Carbone
Sent: Friday, April 08, 2011
Subject: Spring Bonus Announcement

To: All Associates and Counsel

On behalf of the firm, I am pleased to announce that we will be paying Spring bonuses this year. This bonus, in addition to the Special Bonus Program for extraordinary merit during the 2010 year end review cycle, reflects the firm’s commitment to recognizing the hard work and contributions of our associates and counsel.

Bonuses will be awarded to any current associate or counsel who received a 2010 bonus based on hours and performance attributable to work performed in 2010. An associate or counsel must continue to be in good standing on the date of payment to receive a Spring bonus. If an associate’s or counsel’s 2010 year end bonus was pro-rated, the Spring bonus will be pro-rated accordingly.

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The bonuses will be paid in the May 2 payroll in accordance with the schedule below:

Class Year Spring Bonus
2010 – $2,500
2009 – $7,500
2008 – $10,000
2007 – $15,000
2006+ – $20,000

Thank you for your continued dedication and contributions to the firm and our clients.

Tony

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