Busy Associates Are Rewarded Generously At This Biglaw Firm
Associates are making bank... if they bill enough.
Big bonus money continues to be the big story in Biglaw. Now that the industry has gotten on board with the Milbank bonus scale — of both the year-end and special variety — the top of Biglaw is falling all over themselves to show that they’re one of the big players in Biglaw. The latest firm to announce a Milbank match on associate bonuses is Katten Muchin Rosenman.
The firm took in $781,654,000 in gross revenue last year, making it #66 on the Am Law 100. All that cash on hand and the firm is sharing it with associates, if they’ve been busy billing, of course.
The year-end bonus schedule at Katten is a little more complex then most. But associates can take down market bonuses once they bill 2,000 hours. Additional billables are rewarded as per this chart.
Plus, there are the special bonuses that associates can add to their comp package when they hit 2,000 hours.
On top of all these associate bonuses, “superstar” bonuses are also available on a discretionary basis.
Bonuses will be paid on February 3. You can read the full memo on the next page.
Remember everyone, we depend on your tips to stay on top of compensation updates, so when your firm announces or matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Bonus/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.
And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks for your help!
Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. 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 or Mastodon @[email protected].
