Layoffs Won't Stop This Am Law Top 20 Firm From Offering Bountiful Bonuses
It's time for some happy news at this firm!
What a whirlwind of a month it’s been for Goodwin Procter. The top 20 Am Law firm kicked off the new year by announcing a reduction in force, letting go 90 or more attorneys (about 5% of its workforce). A short time later, the firm welcomed a number of health sciences partners and associates to its fold through a group lateral move from Troutman Pepper. And now, Goodwin is closing out January by announcing bonuses for associates.
Even though the firm is fresh off a series of layoffs, it’s back to business as usual, because Goodwin is offering a market match when it comes to its 2022 year-end bonuses. Here’s the grid for bonuses at the firm (and if you’re interested, you can find the memo on the following page):
| Salary Class | Bonus |
| 2021 | $20,000 |
| 2020 | $30,000 |
| 2019 | $57,500 |
| 2018 | $75,000 |
| 2017 | $90,000 |
| 2016 | $105,000 |
| 2015+ | $115,000 |
To be eligible to receive a bonus at Goodwin, associates must have billed 1,950 hours during the firm’s fiscal year, which concluded at the end of September. Those who billed hours that were “materially higher” than the eligibility threshold — as well as associates in their fourth year or above who received a distinctive rating — will receive additional bonus money from the firm. (And on a positive note, we’re hearing from sources who recently lost their jobs at the firm, and they received their bonuses today as well.)
Congratulations to everyone at Goodwin on their bonuses!
(Flip to the next page to see the memo from Goodwin Procter.)
Remember everyone, we depend on your tips to stay on top of important bonus updates, so when your firm announces or matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). 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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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.
