More Biglaw Bonuses With Extra Cash For Big Billers
Attorneys can make up to $20K more for hitting higher billing targets.
Another day, another bonus announcement! Yesterday Sheppard Mullin got in on the associate bonus action, revealing market rate bonuses for associates that billed the minimum number of qualified hours. But there’s a catch… and whether associates fall on the plus or minus side of the 2,000 hour mark is whether that is good news or bad news.
Sheppard Mullin’s bonuses come with some pretty strict penalties for associates that fail to meet the 2,000 billable hour threshold. Associates that billed between 1950 and 1999 hours this year will lose out on their full bonuses, taking a hit of between $6,000 and $40,000, depending on seniority. And if you didn’t hit 1950 hours, well, you get left off the bonus chart entirely.
But there is good news if you’re on the high side of billable hours this year — there’s more money coming your way. If associates hit the 2200 mark, they can expect between $1,500 and $10,000 extra, depending on class year. When they hit 2400 hours those amounts double, and, again depending on class year, they’ll bring home an extra $3,000 to $20,000. That’s a nice thank you for what must have been a busy year.
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The firm’s full bonus schedule:
(Read the full bonus memo on the next page.)
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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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