Biglaw Firm Beats Market Bonuses For High Billers, With Special Bonuses & 'Superstar' Bonuses On Top
Wow. Exciting news!
When looking back upon the year that was, associates at some firms will easily acknowledge that 2020 was one hell of a year. From salary cuts to furloughs to layoffs, they really saw it all, and when bonus time came, they perhaps had reason to worry about whether their firm would match the going market rate, and if their year-end haul would include special bonuses on top.
At Katten Muchin — an Am Law 100 firm whose COVID-19 austerity measures ran the full gamut, with salary cuts ending just last month — associates were positively “thrilled” about their bonuses, which were announced just before Christmas.
Why’s that?
Not only did the firm match the market and hand out special bonuses, but even more money is being offered to associates with high billable hours. Big billers start raking in more cash at just 2100 hours. Depending on class year, those who billed 2100 hours or more will receive up to $6,000 more than market, while those who billed 2500 hours or more will receive up to $30,000 more than market. Plus, discretionary “superstar” bonuses will come into play in addition to all of the firm’s generous bonuses.
Check out the firm’s 2020 bonus scale, below:
Congratulations to everyone at Katten for finishing the year off strongly.
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(Flip to the next page to see the full Katten Muchin bonus memo.)
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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 Twitter or connect with her on LinkedIn.
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