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Troutman Pepper Announces Big Compensation Changes

Bonuses AND raises?

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Teamwork makes the dream work!

In February of 2020, Troutman Sanders announced bonuses that associates described as “a slap in the face.” Two months earlier, Pepper Hamilton enraged its associates by offering a bonus structure where “8th years are still making the same bonus as a first year at other firms with market bonuses.” But then these two maligned firms got together to create Troutman Pepper and 2021 is a whole different story.

First, some bonuses:

Those are market bonuses, folks! And there aren’t any limits based on which office associates serve in — all associates in good standing with 1950 in annualized billables (up to 100 pro bono hours) will qualify. The first payment will be in July 2021 and the second in January 2022. Associates will have the opportunity to catch up if they miss out on the first payout.

That’s great news all by itself, but, as they say, just wait, there’s more! The firm announced base salary raises across the country:

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This isn’t the first firm this cycle to announce upward adjustments to salaries in less-than-marquee markets, but this is epic news considering where associates were last year. I ended my piece on last year’s bonus situation at the two firms with the line, “Hey, maybe 1+1=3!” and wouldn’t you know it, sometimes the whole is more than the sum of its parts.

Full memo on the next page…

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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HeadshotJoe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.

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