Everything’s humming along nicely at Bingham McCutchen. The firm just named 13 new partners, up from nine partners last year. The firm was once again honored by Fortune magazine as a best company to work for (which marks the ninth straight year, for those of you who are counting).
And the firm just announced its bonuses, both ordinary and “extraordinary.” Let’s see the numbers….
The full Bingham bonus memo, from firm administrative partner Debra Fischer, appears on the next page. Here’s the operative language:
Bonuses Based on 2012 Performance
The Management Committee approved a bonus schedule for lawyers in Classes I to VI and Counsel I to III (see chart below). Bonuses are awarded in accordance with our bonus policy when an Associate/Counsel achieves 1900 billable / 2000 total hours (including up to 100 pro bono, up to 50 firm citizenship hours, and/or up to 100 additional client billable hours). Class I associates are bonus eligible at 1800 billable / 1900 total hours. Designated pro bono team members are bonus eligible at 1700 billable / 300 pro bono hours. Bonuses for Of Counsel and Staff Attorneys will be decided on an individual basis by Practice Group and Area leaders. Awarded bonuses will be paid to US lawyers on March 15 and to UK, Frankfurt, and Hong Kong lawyers on March 28.
Note that these hours requirements are slightly lower, and therefore easier to meet, than last year’s cutoffs.
And the scale, which follows the Cravath 2012 bonus scale, is also more generous than last year’s:
Meanwhile, busy Bingham bees still get supplemental or “extraordinary” bonuses, according to this table (unchanged from last year):
Finally, the memo announces 2013 base salary levels, which should also look familiar. You can check out the complete memo on the next page.