Top 50 Biglaw Firm Is Offering $75K Associate Referral Bonuses
And that's on top of the $200K signing bonuses being offered for its Houston office.
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The Biglaw lateral market is still burning hot, and law firms are trying every move they can think of to get more associates in the door — up to and including offering current and former employees referral bonuses for successful hires.
The latest firm that’s turning its associates into recruiters is Willkie Farr & Gallagher. According to a report from Insider, the top 50 Am Law firm is willing to pay $75,000 referral bonuses to associates who help the firm make qualified hires. Here are some additional details:
The bonus payments are split into two parts, with associates receiving the first $50,000 after the new hire arrives and the remaining $25,000 when the hire has worked at the firm for a year, a copy of an internal email reviewed by Insider showed.
The bonuses are meant to help the firm recruit experienced corporate laterals, said the email, which was sent by Danielle Scalzo, a Willkie partner in New York.
That’s quite a bit more money than what some other firms are willing to pay in referral bonuses. For example, Shearman & Sterling recently rolled out a program offering $25,000 to former attorneys who refer potential new hires. But then again, Willkie is all about rolling out the big bucks for new recruits.
Willkie is reportedly offering up to $200,000 in precleared signing bonuses for midlevels its office in Houston, Texas. “Most firms don’t do that,” said a recruiter who spoke to Insider but wished to remain anonymous. “It’s almost always just an after-the-fact kind of negotiation.”
What is your firm doing to lure in qualified associates during these unprecedented times? Whether it’s raising salaries to match the $215K soon-to-be market standard or offering referral bonuses, we want to know. Please don’t hesitate to get in touch with us. Email us at [email protected], send a text message to (646) 820-8477, or click here to submit a tip.
This Big Law firm is so hungry for associates that it’s giving $75,000 referral bonuses [Insider]
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.
