Biglaw

Top 10 Am Law Firm Hands Out Big-Money Bonuses To Associates

Associates are going to be so happy this holiday season.

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It’s bonus season in Biglaw, and associates are nervously waiting and watching to see if there firms will match not only the Cravath year-end bonus scale, but the special bonus scale as well. If certain firms refuse to match the special bonuses, there will truly be a new compensation distinction between Biglaw firms this year.

Please note the UPDATE below.

Associates at Morgan Lewis can now let out a huge sigh of relief, because the powers that be at the firm just announced that associates’ holiday season will be extra festive this year, with up to $140K in cold, hard cash, depending on their class year. Here are the details:

Per usual firm practice, U.S. associates just received a voicemail from [chair] Jami McKeon to inform us that the firm will be matching both the year-end bonus scale of Am Law 20 firms and the special fall bonuses of Am Law 20 firms. Jami wanted to let us know on the eve of Thanksgiving as an appropriate expression of gratitude. Exact/further details will be coming next week.

“Expected and appreciated news,” said one source. If the firm is truly proceeding as usual, first-years will not be receiving a pro-rated bonus, since the Morgan Lewis fiscal year begins in October. Sorry about that, first-years!

UPDATE (November 30): Here’s a message we received from a source with additional details on the Morgan Lewis 2020 year-end bonuses:

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As indicated last week, U.S. associates received a follow-on voicemail this afternoon confirming a match of both the year-end and special bonuses to the market scales. These will be paid January 29th. Associates must have billed 1900 hours for FY2020, which as always includes unlimited pro bono, but also specially for this year includes all time spent on COVID-19 projects not otherwise billable.

Associates not eligible for these bonuses due to productivity, may nonetheless receive only the special bonus if for the 4 months from September through December of 2020 they annualize 1900 hours, again including all pro bono and all time spent on COVID-19 projects not otherwise billable.

The message is that this allowance for the special bonuses only is aimed to compensate those with lower productivity in spring/summer of 2020 due to the pandemic, including, as named in particular, junior associates who may have seen a slowdown during such period, and any others who may have had to cope with personal situations during such period that reduced productivity.

Bonus money will likely be deposited into associates’ accounts in January 2021.

Remember everyone, we depend on your tips to stay on top of important bonus updates, so when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). 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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Staci ZaretskyStaci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

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