Market Bonuses With Extra Money Earmarked For Lawyers Who Really Need A Vacation

Take some time for yourself.

Flying Dollar Banknotes Vector. Cartoon MoneyI understand why firms do it, but I really wish firms would stop announcing bonuses on Fridays. It’s nice to end the week on a high note, but we’re trying to help firms communicate to the market that they’re paying top dollar for talent and that’s a lot easier when the news hits before folks start checking out for the weekend. Hopefully this one hits folks early enough in the day that they’ll see it.

Anyway, Fenwick & West announced its bonuses today, bringing the number 72 Am Law-ranked firm in line with the DPW consensus on bonuses. Full bonus memo on the next page, but the details are here. Minimum billable target is 1950.

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But the firm is also giving some extra cash to folks who’ve really put in tough hours, with the instruction that lawyers try to use the money on some R&R. Or, as they put it “Triple-R” — Rest, Recreation, and Relaxation. Back in the Spring, the firm gave $5,000 to $15,000 for high billers. In addition to those bonuses, the firm’s got another dose for folks who racked up more big hours with $10,000 to $30,000 for those who billed over 2300 hours.

Congrats, Fenwick folks. Enjoy your vacations.

*** Wondering if the grass is greener on the in-house side? Click here for a look inside the black box of corporate counsel pay in our 2021 In-House Compensation Report. ***

Remember everyone, we depend on your tips to stay on top of this stuff. 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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HeadshotJoe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.

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