It’s bonus season in Biglaw, and associates are nervously waiting and watching to see if there firms will match not only the Cravath year-end bonus scale, but the special bonus scale as well. If certain firms refuse to match the special bonuses, there will truly be a new compensation distinction between Biglaw firms this year.
Associates at Morgan Lewis can now let out a huge sigh of relief, because the powers that be at the firm just announced that associates’ holiday season will be extra festive this year, with up to $140K in cold, hard cash, depending on their class year. Here are the details:
Per usual firm practice, U.S. associates just received a voicemail from [chair] Jami McKeon to inform us that the firm will be matching both the year-end bonus scale of Am Law 20 firms and the special fall bonuses of Am Law 20 firms. Jami wanted to let us know on the eve of Thanksgiving as an appropriate expression of gratitude. Exact/further details will be coming next week.
“Expected and appreciated news,” said one source. If the firm is truly proceeding as usual, first-years will not be receiving a pro-rated bonus, since the Morgan Lewis fiscal year begins in October. Sorry about that, first-years!
Bonus money will likely be deposited into associates’ accounts in January 2021.
Remember everyone, we depend on your tips to stay on top of important bonus updates, so when your firm 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.
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