Another Biglaw Firm Rolls Out Most Excellent Special Bonuses
This is the standard for truly elite Biglaw firms.
More and more firms are getting in on the special bonus action. After over a year of pandemic life, Biglaw is showing love for the associates (and their billable hours) that make the success of the industry all possible.
Today, Fried Frank, a firm that place 56th on the Am Law 200 thanks to $776,000,000 in gross revenue in 2019, announced its own special bonuses. As expected for such an elite firm, they’re matching the standard set by Davis Polk.
At Fried Frank, the two special bonus payments are split equally, which is a nice touch. The billable-hour threshold for the bonuses is 1850, annualized, and associates who miss out on the first payment have an opportunity to catch up if they bill the requisite hours in the back half of the year.
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This is how the payments break down at the firm:
The firm also noted these are in addition to year-end bonuses, which they expect to be the same size as last year’s annual bonuses.
You can read the firm’s full memo on the next page.
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Please help us help you when it comes to bonus news at other firms. As soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”) or text us (646-820-8477). 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.
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. 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).
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