Top Biglaw Firm Finally Gives Special Bonuses To Waiting Associates
Associates were getting impatient!
Good things come to Biglaw associates that wait.
Foley & Lardner, a firm ranked 46th on the AmLaw 100 with $920,427,000 in 2019 gross revenue, has announced special spring bonuses. And according to tipsters at the firm — not a moment too soon. Above the Law tipsters reached out last week, expressing some… frustration with the firm’s silence on special bonuses:
With such a strong year, and with all associates working crazy hours right now, we want to know where the money is and when our bonuses will be announced! After not receiving 2020 special bonuses, having a year-end bonus system that only comes close to matching market bonuses for those who actually bill more than 2,200 hours, and the firm’s silence on the current round of bonuses, I know of several associates who are actively looking to lateral to other firms.
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But now all has been forgiven, with the firm announcing market rate special bonuses, to be given according to the following schedule:
To get the bonuses, associates will have to bill 1950 hours annualized, but catch up payments are possible if they make up the hours by the end of the year.
Full memo available 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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