Biglaw is knee deep in bonus season. Firms are pumping out memos letting folks know exactly how much extra money they’ll be seeing this yeah.
Katten Muchin Rosenman, a firm that made $646,601,000 in gross revenue last year, making it 67th on the Am Law 100, has announced their own year-end bonuses to thank associates for all their hard work — and most importantly, their billable hours.
The firm announced they are matching the Cravath year-end bonus scale for associates that hit the 2,000-hour threshold. But for busy associates who bill even more, they note, “As we have in previous years, we will give additional bonus amounts for each 100-hour increment over our hours target to reward those associates whose hours have exceeded expectation this year.”
Let’s take a peek at the bonus scale at Katten:
The memo also goes on to note that, “Any additional discretionary (e.g., “superstar bonuses”) or billing bonuses would be given in addition to the amounts listed above.” That’s very nice, but no word — as of yet — whether the firm will match the latest round of special bonuses introduced yesterday by Davis Polk. Though, it should be noted, Katten does have a history of matching Biglaw’s special bonus trend.
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Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. 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).