Associate Bonus Watch: Morrison & Foerster Matches Spring Bonuses
Wow, it’s like White & Case’s attempt to glom on to the spring bonus trend just ticked off these other firms. First Sidley and now Morrison & Foerster have come out with real spring bonus announcements, detailing the amount of money associates can expect to get paid.
We’re running off to the We Know What You Should Do This Summer filming, so we can’t give you the full MoFo treatment. But it’s not that shocking that since O’Melveny, Latham and Gibson went with spring bonuses, MoFo kind of had to step up.
Congrats, MoFos. As one tipster put it, “Tell those bitches at GDC that Mofo makes it rain in Cali… Twenty grand, man. Plus, they gave Dude a beeper.”
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Read the full memo below.
MORRISON & FOERSTER — MEMORANDUM — SPRING BONUSES
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To All Associates and Counsel on the U.S. Compensation Structure:
We will be paying a supplemental bonus with respect to 2010 to all associates on the U.S. compensation structure who received a bonus in 2010 and met the 1950 hours target (1800 for Patent associates) for billable, pro bono and legal service hours in 2010. Associates in the Class of 2010 will receive a supplemental bonus without regard to 2010 hours or start date. Of Counsel will be handled individually based on eligibility.
The supplemental bonus will be in the amounts shown below by salary class year. Additional eligibility criteria will be in accordance with the policies set out in the firm’s Compensation and Evaluation Brochure.
The supplemental bonus will be paid on April 29.
Thank you for your continuing dedication to the firm and our clients.
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Salary Class Year Bonus
2010 $2,500
2009 $7,500*
2008 $10,000*
2007 $15,000*
2006+ $20,000*
*If an associate’s 2010 hours expectation was prorated for any reason, including for those joining during the year, on reduced schedules, or on a paid or unpaid leave of absence during 2010, the supplemental bonus will be prorated accordingly.
Earlier: Prior ATL coverage of spring bonuses
