Associate Bonus Watch: Firms That Refuse To Follow The Market May Have 'Crappy' Bonuses
Sorry, associates, but your salaries are just too high.
A lot of firms that followed to $180,000 did so because they felt they had no other choice from a competitive recruiting and retention standpoint. But bonuses may be the first way that we see a splintering where some firms say, “We refuse to continue to follow, because our business model is too different to justify continuing.”
— Dan Binstock, a partner at attorney search firm Garrison & Sisson Inc., commenting on how he sees the 2017 bonus season playing out between the haves and have-nots of Biglaw.
(Speaking of the 2017 bonus season, if we take past as precedent, Cravath’s bonus announcement may be dropping sometime this afternoon. Stay tuned for the big news from Above the Law!)
Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
Staci Zaretsky has been an editor at Above the Law since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.
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Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
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