Biglaw Firm's Individualized Bonuses Do Right By Associates -- Assuming You've Been Busy Billing
Yes Virginia, it's still bonus season.
Christmas may be over, but that doesn’t mean your good friends at Above the Law have stopped caring about associate bonuses. On Friday, right before folks started scattering for the holidays, Baker Botts announced individualized associate bonuses. Even though there is not a lockstep scale that all associates are on, sources at the firm believe it to match the bonus schedule set by Cravath last month — provided associates hit their hours requirement.
As one tipster at the firm noted, Baker Botts is paying associates market bonuses if they’ve billed 2,000 hours this year. Plus, associates who missed on hours for the firm’s summer bonuses but made them up by the end of the year were made right as well.
From what I’ve seen, they’re matching market for people who hit 2000 hours. The firm is also making up summer bonuses for people who didn’t get a bonus over the summer because they were behind in hours but ended up hitting their year-end target.
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So that’s good news if you’ve hit 2,000 hours. And sources also report high billers with a threshold of 2,150 hours received extra money above the market scale. But there is bad news — from what we understand from tipsters, only hitting 1,800 hours netted associates no bonus.
Please help us help you when it comes to bonus news at other firms. As soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”) or text us (646-820-8477). 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.
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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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