ROPES & GRAY — MEMORANDUM — ASSOCIATE COMPENSATION AND 2016 BONUSES
We are announcing standard bonuses and total compensation for associates in the classes of 2014, 2015 and 2016 as follows:
Ropes 2016 Bonuses
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As you know, we have an activity target of at least 1,900 billable and pro bono hours to be eligible for a bonus. This year, we have again increased bonuses from the above scale for associates who worked substantially more than the targeted amount, maintained bonuses for some associates who worked less than the target, and decreased rather than eliminated bonuses for many other associates who worked less than the target. We have also adjusted bonuses in unusual circumstances where an associate’s performance review is substantially above or below our expectations. Our career associates and London associates are compensated in accordance with their respective markets, so their compensation will be different.
For more senior associates, bonuses will, as always, be determined and communicated individually. These bonuses will reflect personal contributions, assessed on both qualitative and quantitative bases, as well as prevailing market compensation.
As you know, timely diaries are increasingly critical to our business. They enable us to bill clients promptly at the end of each month, and are essential to monitoring and managing alternative fee arrangements. For these reasons, adhering to our diary standards is absolutely crucial. As previously announced, lawyers violating our diary standards have received an automatic bonus reduction.
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All bonuses will be paid by direct deposit on December 23, 2016. Associates must be employed by the firm on that date in order to be eligible for bonuses. Compensation for associates who joined us during the year or who were on reduced schedules will be prorated appropriately.
On behalf of the entire partnership, we want to thank all of you for your hard work and dedication over the past year. It is a privilege to work with such an extraordinary group of professionals.
R. Bradford Malt
David C. Chapin
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