GOODWIN — MEMO — 2022 YEAR-END BONUSES
Steve Lee and Julie Tibbets, Co-Chairs
| U.S. Associates 2023 Compensation and 2022 Bonuses
On behalf of the firm and its partners, we would like to thank each of you for your continued hard work and commitment on behalf of our clients and our firm. 2023 U.S. Associate Base Compensation Levels Class year increases will be effective January 1, 2023 and are as follows:
Ratings Associates in their fourth year and more senior received an ARC rating. ARC did not give ratings to associates in the classes of 2019, 2020 and 2021 except for associates who performed below the Attorney Development Frameworks for their level. We have determined that focusing on feedback and development is more appropriate for associates beginning their legal careers. 2022 Bonuses Associates who met the 1,950-hour threshold during our fiscal year ending September 30, 2022 and who met the Attorney Development Frameworks for their level are eligible to receive bonuses. Because bonuses are based on performance during our fiscal year ending September 30, 2022, associates hired after August 31, 2022 are not eligible to receive a bonus. The 2022 U.S. associate bonuses for the classes of 2021 and more senior are determined by reference to the bonus scale set forth below. Associates who recorded ARC hours materially higher than 1,950 hours and/or associates in their fourth year or above who received a Distinctive rating will receive bonuses above these class amounts. Associates in the 2019, 2020, and 2021 class years who met the 1,950 ARC hours threshold will receive the class bonus amount unless they are performing below frameworks; associates receiving a Below Frameworks rating are not bonus eligible. Bonuses will be subject to proration based on our standard practice for flex time schedules, hire date, and approved leaves of absence. 2022 Class Year Bonus Amounts
Communication Salary increases and bonuses will be included in the January 25th monthly pay. Notices regarding your salary and 2022 bonus will be posted in Workday later this week. Pro Bono and Investment Time The firm remains committed to the Pro Bono Institute Pledge of dedicating 3% to 5% of its annual billable hours to legal matters on behalf of people in poverty or to advance civil rights. Accordingly, we ask all of the firm’s lawyers to commit at least 50 hours annually to pro bono. For bonus purposes, pro bono hours are treated the same as billable hours. At the end of this fiscal year, you will be asked to discuss your pro bono commitment in your Professional Development Report. The firm also expects attorneys to collaborate through investment (or “91”) time matters, including marketing activities, knowledge management, Business Unit and Legal Practice Area initiatives, diversity initiatives, training and participation on firm committees, eligible hours of which may accrue towards culture & innovation time. Collaboration and active participation in our community are core values of our firm and are included in the attorney frameworks setting forth our expectations for junior, mid-level and senior associates. Associates should seek opportunities to participate in 91-matters, particularly during times when they are less busy with billable or pro bono work. Up to 100 hours (after the first 25) of culture & innovation time will count for bonus eligibility. Please consult the iNet for the correct culture & innovation billing numbers. Please do not hesitate to reach out to either of us, Heidi Goldstein Shepherd, Laura Baron or Nancy Kirk with any questions or comments. Again, thank you for your continued efforts and contributions to the firm. |
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