Orrick Offers Big-Time Bonuses Plus Above-Market Money For High Billers
These above-market bonuses are wow, wow, WOW!
Biglaw firms across the country are offering special bonuses to their associates, but we can’t think of any that have offered to pay even more money than the already generous amounts that have become the market standard thanks to Davis Polk — until now, that is.
Orrick — a firm that brought in $1,158,537,000 in 2019 gross revenue, placing in at No. 31 in the most recent Am Law 100 rankings — has not one, but two special bonus scales (full memo available on the next page). One scale is for those with 1950 bonus-eligible billable hours, and the other is for those with 2300 bonus-eligible billable hours. Both bonuses are annualized, one as of March 31 (get those hours in, ASAP) and payable in April, and one as of bonus year-end (November 30 for associates and December 31 for counsel), payable with merit bonuses.
Here’s what the Orrick special bonus scale looks like for those with 1950 hours:
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And here’s what the Orrick special bonus scale looks like for those with 2300 hours — which includes a 25% above-market premium for the April bonus payout. Yowza!
Remember, this is a firm that allows associates to bill for 40 bonus-eligible hours of unplugged vacation time, and up to 100 firm billable hours are included in the 1950- or 2300-hour thresholds (including up to 35 hours of training/shadowing; up to 50 hours of innovation; up to 50 hours of diversity, equity & inclusion; and up to 50 hours of substantive business development). On top of that, Orrick will offer regular and premium special bonuses to anyone who misses their billable marks for the April payment, but meets them by the end of the year.
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Congratulations to everyone at Orrick on their extra-special special bonuses!
(Flip to the next page to see the full memo from Orrick.)
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.
And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks for all of your help!
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Staci 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.
