Biglaw

Elite California Firm Offers Market-Busting Bonuses To Associates

Holy crap! These bonuses are bountiful!

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Yesterday afternoon, we asked if any associates were pissed off about this year’s bonus. Instead, we heard from some associates who were incredibly pissed about last year’s bonus, and thrilled out of their minds about this year’s bonus. The law firm we’re talking about is Irell & Manella, the prestigious California firm that was once known for its above-market bonuses.

Here’s what an associate had to say about the firm just last year: “For years, Irell was dominant on the compensation front. People came to Irell because Irell could not be beat compensation wise. That is no longer true.” This year, associates’ gripes about compensation have likely changed, due in part to its market-busting bonuses.

This time around, Irell has matched the Cravath scale, and sweetened the pot by adding a “good year” bonus on top of that. Associates report that everyone seems pretty happy, with one remarking that “[t]here’s an expectation each year that Irell will beat market, but I don’t think anyone expected them to do it by this much.” So, just how much did Irell beat the market by? Check out the firm’s bonus scale:

Holy crap! That’s quite the bonus haul for Irell associates who were complaining about low morale and depression among their colleagues just year. Congratulations!

As a little reminder, we love covering the Biglaw bonus season, but we need your help. Remember: as soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”). We always keep our sources on bonus stories anonymous. There’s no need to send the memo using your firm email account; your personal email account is fine. Please be sure to include the memo as proof; we like to post complete bonus memos as a service to our readers. You can take a photo of the memo and attach as a picture if you are worried about metadata in a PDF or Word file. You can also text us at 646-820-8477. We look forward to hearing from you.

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Staci ZaretskyStaci 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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