ALSTON & BIRD — MEMO — SPECIAL BONUSES
Dear all:
As the first quarter of 2021 ends and we are starting to feel that spring is finally upon us, I have some great news to share with you that truly reflects the firm’s commitment to rewarding and retaining the best talent throughout the globe.
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The past year has proven how strong our bonds are to our clients, our communities and each other. In the most trying of circumstances, we have worked together to recommit ourselves to not just the practice of law at the highest levels, but to a number of meaningful and important causes and concerns: the ongoing quest for racial justice; our physical, mental, and emotional wellness; the health and welfare of our families and friends; the connectedness we maintain with each other; our firm culture and core values and so much more. While we are still rounding the corner in terms of all that still remains in these and other regards during the pandemic, we are finally feeling hopeful and looking forward to when we can be together again. Without our commitment to each other, we would not have been as successful as we were during 2020 and so far into 2021. And on behalf of the Partners, I am pleased to share that success with all of you.
First, in recognition of both your outstanding commitment and performance throughout last year and so far in 2021, the Partners Committee has approved paying Special 2021 Bonuses to all Associates and Senior Associates who are annualizing at 1950 billable hours for the 2021 calendar year. These bonuses will be paid in two installments on the dates and in the amounts noted below, with the first installment using an annualization of the billable hours and legal service pro bono hours recorded 1/1/2021-5/31/2021 and the second installment using an annualization of the billable hours and legal service pro bono hours recorded 1/1/2021-11/30/2021.* If you do not meet the annualized 1950 billable hours threshold by the end of May for the June payout, you may “catch up” and earn the full Special 2021 Bonus if you meet the threshold by the end of November. These Special Bonuses do not impact the annual bonuses payable under our Bonus Policy. Special Bonuses for Counsel, Staff and Senior Attorneys and Patent Agents/Specialists will be addressed on an individual basis in the next few weeks.
* billable/legal pro bono hours and bonus amounts prorated as per our bonus policy to those employed and in good standing at the time of payment
Next, I am pleased to announce the the Partners Committee has decided to implement a single, national scale for all US associates as noted below. This scale reflects current trends and recognizes that, as top ranked Am Law firm with complex matters and sophisticated clients around the globe, our associates represent the best talent in our profession.
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Base compensation changes will be effective as of June 1st and will appear in your June 15th payroll.
Again, as I speak on behalf of the Partners, please know how appreciative we are of all you do for our clients, our communities and the firm. We always say that our talent is our most precious asset. These recent decisions reinforce that sentiment.
Liz Price
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.