Associate Bonus And New Partner Watch: Ropes & Gray (Plus A Weil Partner Pick-Up)
Are this firm's bonuses higher than the market rate? Just a tad, for some.
Another day, another round of Biglaw bonuses. Today is Hump Day, so why not pair our bonus news with some exciting lateral partner moves?
Earlier this week, Ropes & Gray announced its 2013 year-end bonus scale. It’s no Boies Schiller $300K bonus, that’s for sure, but it’s a tad more interesting than your run-of-the-mill Cravath match.
Keep reading for all of the details on the Ropes & Gray bonus, news on the firm’s latest partner class, and the announcement of a very recent lateral pick-up from a firm that’s bleeding partners….
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From what we’ve heard, Ropes will be matching the Cravath scale for the classes of 2011 through 2013, and earlier class years will be informed individually of their bonuses. The firm, however, will be adjusting for anything over or under 1900 billable hours, so you could get more precious bonus dollars if you’ve been working really hard. (It should also be noted that all pro bono hours count toward billable hours at the firm.) It pays — quite literally — to be a gunner or pro bono all-star at Ropes & Gray. No wonder the firm is in second place in Vault’s “Best Law Firms to Work For” ranking (for the third year in a row).
Moving right along to the partner news from Ropes & Gray, we’ve received word that the firm’s latest partner class is 10 strong, with four women. In fact, women have made up roughly half of the Ropes incoming partner classes for the past three years, which is commendable in a profession that’s continually likened to a gigantic sausage fest. The firm’s new partner class is also diverse in more than just X and Y chromosomes. The 10 partners graduated from seven different law schools, with only Harvard and Stanford having more than one representative, and they come from a diverse mix of practices, from real estate to IP, but with a slight concentration in private equity (a traditional area of strength for the firm). For more on the new partner class, you can click through to the next page.
Last, but certainly not least, we’ve got news on the latest defection Weil Gotshal. As we noted earlier this week, Weil continues to lose partners, but let’s look on the bright side. Maybe there aren’t any problems at Weil. Maybe these people just want a fresh start for the new year with a new firm.
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The most recent Weil refugee is Brenda Coleman, and she joined the firm’s London office from Allen & Overy as a partner in 2009. Weil quickly removed her bio from its website today, so we imagine she’s not being held to the notice period. Coleman is making her way to Ropes & Gray, and we’re the first publication to announce the news of what the firm is referring to as a “high-profile hire.”
We’re fresh out of news from Ropes & Gray, so if we missed your firm’s bonus announcement, please email us or text us (646-820-8477). And remember, we appreciate memos, so send one if you can. Thanks!
(If you’re interested, flip to the next page to see the full Ropes & Gray new partner announcement, the firm’s press release on its hiring of Brenda Coleman from Weil Gotshal, and Coleman’s bio.)
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