Biglaw Firm Offers Special COVID Bonuses To Associates On Top Of Other Special Bonuses

Very exciting news!

The year is almost over, and with Biglaw firms looking forward to leaving 2020 in the rearview mirror, they’ve been dropping bonus announcements to remind associates that working hard through a pandemic that included austerity measures like salary cuts still allowed them to reap some rewards.

Last month, Stoel Rives — a firm that came in 132nd place in the most recent Am Law 200 rankings, with $236,541,000 in gross revenue in 2019 — announced not only that the firm would be retroactively restoring base compensation for attorneys, but that bonuses were on the way, and 2020 bonus pools, which are larger than they’ve been in any other year, would be left intact. (If you recall, in April, the firm decided to implement discretionary-only bonuses in lieu of hours-based bonuses.) Those bonuses were paid out last week, but now the firm has even more good news for its lawyers and staff: more bonuses! Here’s a note that was sent to everyone at Stoel Rives:

As the year-end approaches, we expect the Firm will finish the year strong, in large part due to the hard work and perseverance of our lawyers and support staff across our national platform. To show our appreciation, the Executive Committee has approved a special COVID supplemental bonus in addition to the performance bonuses that are already being paid to non-partner attorneys and staff. For associates, of counsel and staff attorneys this will result in an approximately 25% increase in their overall bonus. In addition, the Executive Committee has approved a special 2020 year-end bonus of $1000 for every non-partner attorney and each staff member at the Firm.

Congratulations to everyone at the firm. Not only was Stoel Rives able to bound back after bracing for the worst, but it’s now sharing its successes with its employees.

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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