Associate Bonus Watch: Wilson Sonsini Bursts Hopes Like So Many Tech Bubbles
Even the top-billing associates aren't getting DPW scale for some class years.
From: Doug Clark, Jack Sheridan
Sent: Wednesday, January 28, 2015 1:01 PM
Subject: FY15 Bonuses and FY16 Step Increases
M E M O R A N D U M |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
We are pleased to announce year-end merit bonuses, as well as associate step increases for the new fiscal year beginning on February 1, 2015.Merit bonuses reflect both an attorney’s individual performance and the firm’s overall financial performance. Consistent with previously established criteria, the merit bonus program provides for hours-based awards to eligible attorneys who achieved 1,900, 2,100, or 2,400 hours over the course of the 2014 calendar year. In addition to the hours-based component, attorneys also may receive a discretionary amount based on their work quality and overall contribution to the firm.Earlier this year, the firm expanded the non-chargeable hours that are credited for bonus, both in scope and number. Bonus-eligible hours now include chargeable hours recorded, pro bono hours, and hours charged to accounts for the firm’s legal services, as well as approved shadowing hours and a cumulative total of up to 100 hours charged to knowledge management activities, attorney recruiting interviews, preparing and presenting internal training courses that qualify for CLE credit, development and delivery of new business pitches, writing and editing firm publications, and serving on firm committees. The measurement period is January through December 2014.In accordance with the firm’s practices, hour requirements and awards will be adjusted on a pro rata basis for attorneys who started mid-year, worked part time, or who were on a leave of absence for any part of the year.BonusesThe table below shows the median and high awards for qualifying associates by class.
Associate Step Increases Step increases will take effect on February 1 according to the FY16 associate salary schedule shown below.
All attorneys will receive an individual email from Human Resources tomorrow confirming their FY16 salary, and for those receiving a bonus, the bonus amount. Bonuses will be paid on Friday, January 30. We are most grateful for your continued contributions to the firm. The very core of our business depends on your many individual talents as practitioners, and the dedication you’ve all shown to providing the firm’s clients with the quality of services they expect and deserve. |