We hope you had a happy Thanksgiving. While associates at some Biglaw firms were enjoying their socially distanced feasts, they had something to be extra thankful for: up to six figures of bonus bucks soon to be deposited into their accounts.
One of the firms that made associates happy is Proskauer Rose, which recently came in at No. 41 in the Am Law 100 rankings, having raked in $1,004,942,000 gross revenue in 2019. On the day before the holiday, the firm announced that it would be matching the prevailing market bonuses (i.e., the Baker McKenzie year-end bonuses that were later adopted by Cravath, plus the Davis Polk special bonuses that were also adopted by Cravath).
Here’s what Proskauer’s 2020 bonus scale looks like:
Not everyone will be receiving these bonuses, though. The file name on the firm’s PDF is “2020 Bonus – BN,CH,LA,NY,DC.” Associates working at the firm’s Boston, Chicago, Los Angeles, New York, and D.C. offices will get the full scale bonuses, while those in the New Orleans and Boca Raton offices will receive bonuses on reduced scales. Bonuses for associates beyond the class of 2012 will be individualized.
All bonuses will be paid out to associates on December 22. Congratulations!
(Flip to the next page to see the full Proskauer bonus memo.)
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.
And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks for all of your help!
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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