EVERYONE Is Getting An Above Market Bonus This Year At Irell & Manella
There's a new top of the Biglaw bonus game!
Irell & Manella is blowing the door off the Biglaw market bonus scale. And all associates are sharing in the firm’s good fortunes!
The firm already gave out fall bonuses (ranging between $7,500 and $40,000, depending on class year). But that’s a move that a lot of other Biglaw firms have pulled this year. But in May they also gave out supplemental bonuses, those are part of a new bonus structure that the firm says in based, in part, on profit sharing and were made after the firm’s 2019 financials closed. Now they’ve announced their year end bonuses, and for every class year, they beat the market.
Seriously, year-end market bonuses range from $15,000 to $100,000 depending on class year. At Irell they’re $25,000 to $120,000.
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So, um, Cravath who?
The firm’s bonus chart shows the jaw dropping bonuses associates can earn at the firm over the course of the year (you can read the full announcement on the next page):
Earlier this year, Irell found itself at a sort of crossroads as the Biglaw firm announced its intention to eschew transactional work. But, if the size of these bonuses are any indication, the concerns about the new direction were overblown. And yes, the firm again intends to disburse supplemental spring bonuses after fiscal year 2020 has closed.
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Congrats to associates at the firm pulling down some impressive bonuses.
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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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