Biglaw Firm To Hand Out Year-End AND Special Bonuses -- If Associates Bill Enough

Full market bonuses -- if you bill.

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The Biglaw bonus season is revving into high gear as firms are setting out exactly how much they appreciate their associates. Of course, the market standard has pretty much been set — and it includes special bonuses that serve as an extra special tip of the hat for working during the wild ride that was 2020 — so it’s the small differences (like distribution dates and hours requirements) that make the most impact in categorizing a firm’s bonus structure.

On Friday, Kramer Levin announced year-end bonuses that match the prevailing market rate. The bonus scale is as follows (you can read the full memo on the next page):

Class of 2019: $15,000
Class of 2018: $25,000
Class of 2017: $50,000
Class of 2016: $65,000
Class of 2015: $80,000
Class of 2014: $90,000
Class of 2013+: $100,000

Plus the firm is finally on board with the special bonuses that became all the rage among Biglaw firms starting in the fall, in appreciation of associates‘ hard work during the pandemic. Those special bonuses range from $7,500 to $40,000, depending on class year, and are in addition to the year-end bonus numbers. But there’s a catch.

While year-end bonus eligibility will be given out according to the standard firm criteria, that isn’t the case with special bonuses. The firm says “the special bonus is a one-time award that is designed to reward associates who made the most significant contributions to our clients’ and the firm’s economic success in a challenging year.” As such:

Eligibility to receive a special bonus will be based on an associate reaching a threshold of 1,800 bonus-eligible hours, of which at least 1,600 hours must be time spent on billable matters and/or partner-directed business development (as defined in the Annual Bonus Policy).

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It isn’t the most onerous hours requirement out there, but given the challenges of 2020, it’s still a significant chunk of hours to have to bill. And there’s no word on what happens if an associate just misses that threshold.

All bonuses at the firm will be paid on February 15, 2021.

As always, we depend on 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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headshotKathryn 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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