Good News, The Biglaw Special Bonus Party Isn't Over Yet!
We're still tracking firms making bonus payments to associates!
It’s been two months since the special bonus party started in Biglaw, and firms are still announcing monetary tokens of appreciation to attorneys whose billable hours are propelling firms to success.
After experiencing a 4.1 percent increase in revenue from 2019 (and a 8.5 percent increase in profits per equity partner), Loeb & Loeb has decided to spread the love to associates, counsel, and income partners. That’s right, the Los Angeles-based firm has announced special bonuses that match the market rate, set by Davis Polk in March.
Payments will be made in June and December, according to the following schedule:
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To be eligible for the bonuses, associates have to bill 1,950 hours, annualized, with an opportunity for a catch-up payment if you fail to meet the hours by the first payment date. You can read the firm’s full memo on the next page.
Please help us help you when it comes to bonus news at other firms. As soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”) or text us (646-820-8477). 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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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).
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