Associate Bonus Watch: Bingham McCutchen
How are Bingham's bonuses looking this time around?
BINGHAM MCCUTCHEN — MEMORANDUM — ASSOCIATES AND COUNSEL BONUS AND COMPENSATION
From: Fischer, Debra
Sent: Monday, February 10, 2014
To: [All Lawyers]
Cc: Manch, Susan G.
Subject: Associates and Counsel Bonuses and Compensation
To: All Associates and Counsel
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From: Debbie Fischer
Date: February 10, 2014
On behalf of the firm, I would like to thank you for your hard work and contributions to the firm, our clients and the Bingham community. While the legal market remains challenging, our continuing success depends on your ongoing commitment to the firm and your colleagues.
This email summarizes information regarding 2013 bonuses and 2014 compensation.
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Annual Evaluations
Evaluation meetings are currently scheduled to begin in the next couple of weeks. You will be contacted by a member of the Learning and Development team to schedule your review meeting and you will receive a copy of all of your reviews with attributed feedback from your supervising lawyers. Associates in Class VI and more senior will receive messages regarding prospects for partnership.
Bonuses Based on 2013 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 in good standing 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 17 and to UK, Frankfurt, and Hong Kong lawyers on March 28.
We will again provide an extraordinary bonus for lawyers who worked substantially higher hours as detailed in the chart below. Qualifying hours for the extraordinary bonus include all billable and pro bono hours, provided that Associates/Counsel met the following hours expectations under the policy: 1900 billable hours and 2000 total hours; 1700 billable / 2000 total hours for designated pro bono team members. Extraordinary bonuses are awarded again this year as a way to recognize our colleagues who have worked the hardest and made extraordinary contributions to the success of the firm.
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The combination of class bonuses and extraordinary bonuses provides an opportunity for Associates and Counsel to achieve total bonus awards of $ 10,000 to $ 90,000.
Base Compensation for 2014
Our base compensation for 2014 is in accordance with the schedule below. For lawyers promoted in Class, compensation adjustments will be retroactive to January 1st.
Of Counsel and Staff Attorneys:
Base compensation and bonus awards for Of Counsel and Staff Attorneys will be considered on an individual basis.
Please let me or Sue Manch know if you have any questions.
Debra L. Fischer
Bingham Elects 10 Lawyers to Partnership [Bingham McCutchen]
Earlier: Associate Bonus Watch (2012): Bingham McCutchen
Associate Bonus Watch (2011): Bingham McCutchen’s ‘Extraordinary’ Bonuses