This Top 50 Biglaw Firm Is Offering Associates Bonuses On Top Of Bonuses On Top Of Bonuses
These compensation incentives are HUGE!
MORRISON & FOERSTER — MEMO — BONUSES
Our 2024 annual bonuses for associates will include Base Bonuses and may include High Hours Awards and Merit Incentives, as previously announced last December. In addition, we are pleased to announce we will also be paying Special Bonuses to eligible associates.
High Hours Awards and Merit Incentives (Annual Bonuses)
Associates who qualify for a 2024 annual Base Bonus will be eligible for a High Hours Award if they achieve 2,100, 2,300, or 2,500 Legal Service Hours in 2024 and/or for a Merit Incentive if their performance exceeded expectations, as determined by the Evaluation Summary Message in their 2024 annual evaluation. Associates who do not receive a 2024 annual evaluation will be eligible for a Base Bonus and High Hours Awards only. High Hours Awards will add 10% to 40% to the Base Bonus amount for eligible associates, and Merit Incentives will add 10% or 20% to both the Base Bonus and High Hours Awards for associates who qualify, as set forth below. High Hours Awards and Merit Incentive premiums do not apply to 2024 Special Bonuses.
This structure allows us to reward our highest performing associates for their extraordinary work this year. With these awards and incentives, our most senior associates will be eligible for bonuses of up to $218,200, inclusive of Special Bonuses.
The schedule for 2024 Bonus amounts is as follows:
|
Class Year |
2024 Annual Bonus |
2024 Special Bonus |
With High Hours Bonus (10%/20%/40% of Base) |
With Merit Incentive (10%/20% of Base + High Hours) |
Total Bonus Potential
|
| Class of 2024 |
$15,000 (prorated) |
$6,000 (prorated) |
$16,500 – $21,000 (prorated) |
$16,500 -$25,200 (prorated) |
$21,000 – $31,200 |
| Class of 2023 |
$20,000 |
$6,000 |
$22,000 – $28,000 |
$22,000 – $33,600 |
$26,000 – $39,600 |
| Class of 2022 |
$30,000 |
$10,000 |
$33,000 – $42,000 |
$33,000 – $50,400 |
$40,000 -$60,400 |
| Class of 2021 |
$57,500 |
$15,000 |
$63,250 – $80,500 |
$63,250 – $96,600 |
$72,500 – $111,600 |
| Class of 2020 |
$75,000 |
$20,000 |
$82,500 – $105,000 |
$82,500 – $126,000 |
$95,000 – $146,000 |
| Class of 2019 |
$90,000 |
$25,000 |
$99,000 – $126,000 |
$99,000 – $151,200 |
$115,000 – $176,200 |
| Class of 2018 |
$105,000 |
$25,000 |
$115,500 – $147,000 |
$115,500 – $176,400 |
$130,000 – $201,400 |
| Class of 2017 (including prior years) |
$115,000 |
$25,000 |
$126,500 – $161,000 |
$126,500 – $193,200 |
$140,000 – $218,200 |
|
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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 Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
