Biglaw Bonuses Come Complete With Punitive Measures For Naughty Associates
It stings for those taking the hit to their pocketbook.
The good little associates at Ropes & Gray are getting delightful bonuses for being on the “good” list. In an announcement Tuesday, the firm said that junior associates — Class of 2016 and more recent — will be receiving market scale bonuses ($15,000 – $25,000) assuming they’ve hit their billable hours target of 1900. For more senior associates, they’ll receive individualized bonuses that are promised to take into account the market standard. And high billers or otherwise extraordinary associates can expect a little extra in their stocking this year.
For those who failed to make their billable hours this year, the firm will dock their bonuses, but they will get something. Which might suck if you’ve just barely missed the threshold, but it’s better than being iced out of the bonus pool entirely.
The firm is also dinging naughty associates who have failed to enter their billable hours on a timely basis. These deductions are automatic, so being close with a big rainmaker won’t help out those who fail to do this simple task. From the firm’s bonus memo:
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Timely diaries are critical to our business. They enable us to bill clients promptly at the end of each month, and are essential to monitoring and managing alternative fee arrangements. For these reasons, adhering to our diary standards is absolutely crucial. As previously announced, lawyers violating our diary standards have received an automatic bonus reduction.
This isn’t the first time Ropes has used bonus payments to encourage timely entering of hours. But it still stings for those taking the hit to their pocketbook.
(Read the full bonus memo on the next page.)
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. 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).
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