More Biglaw Bonus Bucks: The Latest Firm To Match The Market
Thrilling news!
The closer it gets to the end of the business day, the more anxious associates become as they wait for their Biglaw firms to announce special bonuses. One New York-based firm just saved its attorneys and special counsel some stress by letting them know that the firm would, in fact, be matching the prevailing market bonus rate.
Stroock & Stroock & Lavan just rolled out a bonus memo, letting everyone know that they’d of course be matching the generous Davis Polk scale. Here’s what that looks like at the firm (full memo available on the next page):
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Special bonus payments will be available to those who annualize 2000 hours (1800 billable and 200 non-billable legal) and will be paid on June 30 and November 30. Those unable to meet the hours requirement for the June payment will receive the entire bonus in November if all hours requirements are met. Those in the firm’s Los Angeles and Miami offices better cross their fingers that others match nationwide, because Stroock plans to “incorporate local market factors” for their bonuses.
Congratulations to everyone at the firm!
(Flip to the next page to see the full memo from Stroock.)
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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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!
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.
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