The Friday Night Associate Raise Party Is In Full Swing
Great way to start the weekend!
It’s Friday night… need something to celebrate? How about some raises and special bonuses to go around?
Hogan Lovells associates around the country got welcomed news this evening when they learned their firm was the latest to join in the great associate raises of 2018. Associates in California, Baltimore, Houston, Philadelphia, New York, Washington, D.C. and Northern Virginia will fully meet the top of the industry base salary standard, known around these parts as the Milbank/Simpson/Cravath scale. Boston associates will get raises in the same dollar amounts as their peers — the office is currently on a lower scale — of $10,000 – $25,000 depending on seniority. And, come January of 2019 the office will move to the scale the rest of the U.S. associates enjoy.
Below is the new compensation scale for all your gawking pleasure:
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Plus, there are summer bonuses!
The special bonus is being assessed on the firm’s normal 2,000 billing target, annualized through June. And associates that don’t meet that target have the opportunity to make up the hours by year end.
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In addition, we are pleased to announce that we will be awarding summer bonuses this year for all associates in the U.S. who are on pace to meet the normal quality and productivity expectations of the firm, inclusive of pro bono under our policy. Bonuses will be paid at the end of July based on annualized hours from November 1 through June 30, and we will commit to revisit anyone who did not receive a bonus at year-end if they ultimately achieve the hours goals for the associate compensation year.
Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Raises Salaries”). 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.
And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we’ll also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks!
(Read the full memo from the firm on the next page.)
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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).
