The spring special bonus war has really taken off, with more and more firms deciding to shower associates with big bucks to keep them happy.
Canadian law firm Torys has joined in the special bonus madness — at least for their New York office. Earlier today, the firm announced bonuses in line with the Davis Polk standard set last month. The payments will be divided equally between June and November payment. There is no hours requirement for the June payment, but associates have to bill 1900 annualized for the November payment. If an associate misses the hours threshold for the November payment but makes up the hours by year end, they’ll get a make-up payment.
The schedule of bonuses is as follows:
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The firm also clarified these special bonuses are in addition to the usual year-end money. You can read the firm’s full memo on the next page.
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).