Biglaw

Top 25 Biglaw Firm Updates Bonus Policy: Special Bonuses For All, Plus Supplemental Bonuses!

The firm is showing its associates love with lots of extra cash!

PAUL HASTINGS — 2020 BONUS UPDATE MEMO

MEMORANDUM

date: February 12, 2021
to: Associates
from: Erik Hyman & Melanie Rupert – Global Co-Chairs, Talent Development
copy: Seth Zachary, Greg Nitzkowski, Ronan O’Sullivan, Partners, Cheryl Saban,
Tim Wright, Kathy Deuschle, Michelle Varady
subject:  2020 Associate Year-End and Special Bonus Update

Thank you for your continued dedication to the Firm and to our clients.  We recognize that 2020 was an unprecedented year for the Firm and the legal profession in general, and we are very grateful for your
contributions to our success despite the many challenges you have all faced and the sacrifices that you have all made over the last twelve months.  The unwavering commitment to our clients has been at the heart of our Firm’s progress this year, and we appreciate the professionalism you have exhibited on behalf of Paul Hastings.

The following table reflects the baseline 2020 Associate Year-End and Special Bonus figures by class year for U.S., Asia, London, Frankfurt, and Sao Paulo offices.

Class Year Year-End Bonus (USD) Special Bonus (USD)
2013+ $100,000 $40,000
2014 $90,000 $37,000
2015 $80,000 $32,500
2016 $65,000 $27,500
2017 $50,000 $20,000
2018 $25,000 $10,000
2019 $15,000 $7,500

Bonuses will be paid to U.S. associates on Friday, March 5, 2021.  Bonuses will be paid to international associates in local currency in accordance with month-end payroll in March.

As an expression of the Firm’s gratitude for the contribution of our associates to the success of our clients throughout the year, we are pleased to announce that associates who qualify for a Year-End Bonus but did not receive the Special Bonus in December will be awarded the Special Bonus in March in addition to their Year-End Bonus.

Supplemental bonuses may also be awarded to associates who have made exceptional contributions in the past year.  An award that exceeds the baseline bonus is a significant achievement.

The Firm pays bonus levels that are competitive with market conditions. Associates hired prior to October 1, 2020, in the class of 2019 and above, are eligible to receive a bonus in March if they meet their qualifying hours and other performance expectations, are in good standing, and are actively employed by the Firm on the bonus pay date. Qualifying hours include client billable, special project, pro bono and approved special non-billable COVID-related time. The Firm’s time lag and proration policies apply.

Please contact the compensation team if you have any questions.

We are truly grateful for your continued contribution to placing our Firm at the forefront of our profession.

With our gratitude,

Erik Hyman & Melanie Rupert
Global Co-Chairs, Talent Development


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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