Biglaw, Bonuses, Money

Associate Bonus Watch: Another Firm Matches Davis Polk

And how do the associates feel about the news?

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As those of you in the northeast can tell, winter is not yet over. And Biglaw bonus season isn’t over yet either.

We’re aware of a number of law firms whose bonus announcements we have not yet covered. We’re waiting for additional tips about these firms prior to publication, to ensure that we have a representative sampling of information and opinion. If you’re aware of bonus news we have not yet covered, please email us or text us (646-820-8477). Memos, where they exist, are especially appreciated.

Today’s news isn’t exciting, but at least it’s good:

Paul Hastings bonuses announced. Davis Polk scale for all U.S., Asia, and Frankfurt offices. Consistent with past years, needed 1950 “billable” hours to get a bonus, which includes pro bono and certain “firm special projects.” They also paid out additional “merit” bonuses to star associates, though I’m not sure what those look like or how many were awarded.

Said a second source at Paul Hastings:

Full Davis Polk match. Clean and upfront. All Associates above 1950 receive market rate + extra for distinguished Associates. A sign of the firm’s fantastic policy with respect to Associate comp and happiness and overall financial strength.

Sometimes associates, especially high billers, react poorly to getting “only” a Davis Polk bonus. But that doesn’t seem to be the case at Paul Hastings, at least according to our tipsters. “Everyone is generally happy,” we’ve been told.

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Paul Hastings, of course, is a generally happy place. The firm gets an impressive grade of A-minus on ATL’s Insider Survey. It’s a top firm to work for, according to Vault, and it has a top 10 summer program, according to Am Law.

If you have anything you’d like to share with us — about Paul Hastings, or about any other leading law firm — you know where to reach us.

(Flip to the next page for the full Paul Hastings bonus memo.)

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