They are terrified of the unknown. The one thing law firms don’t like is unknown. We don’t know what is going to happen, and all indications are there are still significant headwinds in transactions. Nobody wants to give out wild bonuses and at the same time pulling a Cooley.
Giving extraordinary bonuses right now is fraught with peril. They are scared shitless.
— The leader of an Am Law 25 Biglaw firm, in comments given to the American Lawyer on why the Am Law 200 has been so slow to match year-end bonuses this year. Bonus season is usually a whirlwind of activity, but thus far, not as many firms as usual have decided to enter the bonus fray yet. Click here to track which firms have announced their 2022 bonuses.
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.