Individualized bonuses: yay or nay? They can be a bit of a mixed bag. High billers can be pretty happy with them, and even beat the market standard. But for the rank and file associates, the lack of clarity can be frustrating.
Today, Sidley Austin announced their annual bonuses were on their way, though associates will learn their “individualized” bonuses sometime over the next week or so. But the firm also released “base bonus amounts by class year,” which line up neatly with the market bonuses established by Cravath at the start of this bonus season:
As is our custom, we have determined bonuses on an individual basis. Annual bonuses continue to be discretionary, and general eligibility criteria remain the same as in past years. In establishing bonus amounts, we have given substantial weight to the quality of an associate’s work and the hours that each associate has spent on chargeable, pro bono, and certain non-chargeable matters, such as legal services and other special contributions to the Firm. Subject to these considerations, we are pleased to announce the following general base bonus amounts by class year. We note that associates with higher productivity and exceptional performance may be eligible to receive a bonus above these amounts.
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|
Class Year |
2017 Bonus |
|
2016 |
$15,000 |
|
2015 |
$25,000 |
|
2014 |
$50,000 |
|
2013 |
$65,000 |
|
2012 |
$80,000 |
|
2011 |
$90,000 |
|
2010 |
$100,000 |
|
2009+ |
$100,000 |
So it looks like this year — in a deviation from past practice — Sidley has established a baseline for bonuses, and is leaving the door open to pay above market rates for high billers. Whether a bunch of associates will get below those announced amounts remains to be seen. Announcing this baseline has been met by trepidation by some tipsters:
It will be interesting to see how much they are willing to depart from it for people who billed more.
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So, Sidley attorneys, how do you feel about this year’s bonus? Feel free to sound off by email, by text message (646-820-8477), or by tweet (@ATLblog) when you finally receive your “individualized” bonus. All complaints (or praise) will be kept anonymous — and could find its way into an update to this story.
Please help us help you when it comes to bonus news at other firms. As soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”) or text us (646-820-8477). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.
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Read the full memo on the next page.
Kathryn Rubino is an editor at Above the Law. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).