Biglaw

At Long Last Biglaw Giant Makes Its Compensation Move

Associates are thrilled they're getting their money.

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To All US Summer Associates, Associates, Senior Associates, and Counsel:

We are committed to providing an attorney compensation package that is at or near the top of the markets in which we practice. We review our salaries, bonuses, and benefits on a regular basis to ensure we remain competitive. Accordingly, effective July 1, 2018, we will increase our associate, senior associate, and counsel base compensation to the following scale:

1st Year Associate
$190,000
2nd Year Associate
$200,000
3rd Year Associate
$220,000
4th Year Senior Associate
$255,000
5th Year Senior Associate
$280,000
6th Year Senior Associate
$305,000
1st Year Counsel
$325,000
2nd Year and Above Counsel
$340,000

Attorneys on reduced hours arrangements will continue to receive the appropriate percentage of their new base salary in accordance with the scale above. Summer associate compensation will also increase to $3,700/week effective July 1.

In addition, on July 25, 2018, associates, senior associates, and counsel will be eligible for a summer bonus based on the following scale:

1st Year Associate
$5,000
2nd Year Associate
$7,500
3rd Year Associate
$10,000
4th Year Senior Associate
$15,000
5th Year Senior Associate
$20,000
6th Year Senior Associate
$25,000
1st Year Counsel
$25,000
2nd Year and Above Counsel
$25,000

To receive this summer bonus, an attorney must be employed and in good standing with the firm as of July 2, 2018 and have met the firm’s 2,000 hour billable and pro-bono expectation on an annualized basis from January 1 through June 30, 2018. All bonuses will be prorated for leaves of absence, reduced hours arrangements, and/or start dates.

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Attorneys who do not meet the criteria at the end of June will have the opportunity to receive the summer bonus if they are employed and in good standing with the firm as of December 31, 2018 and have met the 2,000 hour billable and pro-bono expectation for the full year. For purposes of these bonuses, bonus eligible (BEC) time will be factored into productivity at year end but not for the bonuses paid in July.

Attorneys will also be eligible to receive annual performance bonuses for 2018 and these annual bonuses will be awarded in accordance with our performance based compensation program.

Individual compensation letters will be delivered on July 24.

We truly appreciate your hard work and continued dedication to the firm and our clients.

Enjoy the Fourth of July holiday

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