| From: “Coleman, Ira” <[email protected]> Date: June 26, 2018 at 8:06:09 AM CDT To: US Attorneys <[email protected]> Cc: Management Committee <[email protected]> Subject: Associate compensation and mid-year bonusDear Colleagues, This is to let you know that, as part of our ongoing commitment to be among the top tier of our industry, we will be matching the recent Associate compensation increases in the United States in line with the Cravath Scale, including mid-year bonuses. The compensation increase will take effect July 1st; we will share the details of the bonus payment, including timing, in a separate message tomorrow.
Overall, we will continue our policy to pay market rates for our entire Associate cohort and above-market rates for our top performers.
Compensation is, of course, just one piece of our broader approach to ensuring the strongest possible Associate cohort, and it must also be a corollary of being in the top tier of both productivity and excellence. As such, we need to push on all drivers.
At our Associates’ Retreat, for example, we emphasized health-focused topics that help us grow, both personally and professionally, and be our best selves. To put our support into action, we will be introducing an hours credit for participation in a mindfulness program. We will send the specific details separately, but a growing body of research draws a clear line between mindfulness and overall wellbeing—reducing stress and anxiety, while improving productivity.
We will continue to explore and implement these and other innovative initiatives, always with the mindset of taking a holistic approach to attracting and retaining top Associate talent. As always, we welcome your input, and please don’t hesitate to reach out to me.
Best,
Ira
Make it a great day!! |
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