Biglaw Firm Offers 30 Percent Premium Over Scale For Top Billers!

A nice little cherry on top.

From a compensation perspective, this has been a banner year for Biglaw associates. Milbank forced the top firms to issue what was basically a cost of living increase over the summer. Cravath upped that scale for some older associates and Simpson made everyone hand out summer bonuses. So when Cravath set the scale yesterday with a precise match of last year’s numbers, it only seemed anticlimactic if you’ve not been paying attention.

Still, it could get just a little bit better, and that’s where Fried Frank steps in.

The firm just announced its annual bonus numbers and they are, on the surface, a Cravath match:

Class of 2018 – $15,000 (prorated) Class of 2017 – $15,000
Class of 2016 – $25,000
Class of 2015 – $50,000
Class of 2014 – $65,000
Class of 2013 – $80,000
Class of 2012 – $90,000
Class of 2011 – $100,000
Class of 2010 and above – $100,000

But those figures don’t tell the whole story. Last October, the firm laid out a bonus eligibility policy that offers some serious incentives. For those billing 2000-2199 hours, what you see is what you get: a proper Cravath-scale bonus. But for those billing 2200-2449 hours, the firm is offering a 15 percent premium over the bonus scale. The firm capped that premium at 15 percent of last year’s scale — just in case Cravath took firms higher this year — but since the scale is unchanged, these associates are getting the full 15 percent.

But those go-getters with 2450+ hours under their belt — including, it’s worth mentioning, up to 300 hours of pro bono and up to 125 hours of “qualified non-billable hours” — they’ll be taking home an additional 30 percent on top of their bonus! Do you know the price of being a hard worker and someone who has shunned all those who love them? Well, you do now and it’s $4500 for the Class of 2017!

On the flipside, anyone who misses the 2000 hour threshold really feels the hurt. They’re capped at 25 percent of the Fried Frank scale. Oof. Never have a couple of missing hours stung so hard. I guess it’s better than nothing.

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Congrats to all the Fried Frank associates, especially those of you working 2500 hour years… though you probably don’t have time to be reading this.

(Full memo available on the next page…)

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HeadshotJoe Patrice is an editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news.


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