An Earlier Bonus Announcement For This Firm Paying Most Associates Under Market
Usually associates have to wait until March to learn that they're probably not getting Cravath bonuses.
Well, you’ve got to give Sheppard Mullin credit this year for not dragging out their bonuses until March. Historically, the firm awards bonuses based on work through September 30 and then announces bonuses in March, getting associates both coming and going. But this year we’ve been told that they’ve announced them already based upon the October 2016-September 2017 period.
They’re still low, but at least they’re out.
Just like last year, Sheppard Mullin is matching Cravath… for those who bill more than 2200 hours.
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| Class | 2200+ |
| 2015-16 | $15,000 |
| 2014 | $25,000 |
| 2013 | $50,000 |
| 2012 | $65,000 |
| 2011 | $80,000 |
| 2010 | $90,000 |
| 2009 | $100,000 |
For those billing 1950-2099 hours, first-year bonuses start at a mere $9,000 and those billing 2100-2199 have their bonus scale start at $12,000. On the other hand, associates billing 2400+ see a little bump over the Cravath scale, earning $2250 more for first-years and $15K more for the most senior attorneys.
We’ve not gotten much commentary from associates yet, but given that Sheppard Mullin is following the same scale as last year, one of last year’s comments probably still reflects the majority of the firm’s lawyers:
Basically, you’ve got to hit 2200 to get a market bonus (i.e., work about a month more than associates at peer firms to get market – #lame).
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As usual, the memo is on the next page…
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Earlier: Firm Disappoints Associates With Bonus Announcement… Again
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Joe Patrice is an editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news.
