Associate Bonus Watch: A Firm Offering Associates DPW Bonuses... And More To Some

Another bonus announcement. This one brings good news for a substantial number of associates.

After a pair of disappointing bonus posts over the last couple of days, from Arnold & Porter and Kasowitz Benson, it’s good to finally have some happy news to share. We’ve got someone matching the Davis Polk scale… and beating it for a good number of its associates.

Goodwin Procter announced generous bonuses that actually are generous bonuses. First things first, Goodwin reasserted the DPW scale that we all know and love.

2013 $15,000
2012 $25,000
2011 $50,000
2010 $65,000
2009 $80,000
2008 $90,000
2007 $100,000
2006+ $100,000

But then they sweetened the pot for a substantial number of associates. Goodwin employs a sliding scale for bonuses, rating associates based on skill and a range of billed hours, and accordingly adjusts the final bonus up or down from the DPW scale. Here’s the crux of their bonus system:

3. Those with a Strong rating at the lowest hour range (which starts at 1,950) will receive less than the full class amount, but those with a Distinctive rating at the lowest hour range willreceive the full class amount.

4. Those with a Strong rating at the second hour range will receive the full class amount, those with a Distinctive rating at the second hour range will receive more than the class amount.

5. Those with Strong and Distinctive ratings at higher hour ranges will receive more than the class amount.

As it turns out, 69 percent of Goodwin associates are taking home bonuses this year, with 68 percent of that number earning at or above the DPW scale. In fact, roughly 25 percent of all associates are getting a bigger than DPW bonus.

Just how much more is more? One tipster gives us a benchmark:

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For reference, a mid-level friend got a “distinctive” rating and had a high number of hours, and received 30% more than DPW.

That said, it’s not all happy times. There are those 22 percent of associates who received below the DPW scale (to say nothing of the 31 percent getting nothing). At least these folks knew it was coming, if one of our tipsters is any indication:

Barely made hours with good (not great) reviews so I was expecting a lower than standard bonus. Received exactly what I expected.

Assuming Goodwin Proctor isn’t crawling with subpar attorneys — which it’s not — that means a whole lot of folks didn’t make their hours (a mere 1950) this year. If a third to half the firm is struggling to hit 1950 hours, maybe that should be cause for long-term concern. But let’s not dwell on that today. New year, new economy! Hopefully for these associates’ sake, business will pick up in 2015 and no one will be left worrying about hours when the firm’s handing out next year’s bonuses.

To read the complete Goodwin Procter memo, head on over to the next page…

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Earlier: Associate Bonus Watch: Which Firm Just Decided To Troll Its Associates With ‘Generous’ Below-Market Bonuses?
Associate Bonus Watch: Yet Another Firm Offers Up ‘Insulting,’ Below-Market Bonuses


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