We may be in 2022, but that doesn’t mean the Biglaw bonus news is done for the year! And the firm of Irell & Manella made its associates extra happy before 2021 ended.
In 2020, Irell made $132,903,000 in gross revenue making it #183 on the Am Law 200. And the firm has elected to share the wealth with its hardworking associates. Not only are they matching the year-end and special bonuses that have become the industry standard, they are coming over the top with “good year” bonuses, all helpfully spelled out in a chart:
|Class||Market December Bonus (base market plus 20% market “special”)||Irell Additional Good Year December Bonus||Total Irell December 2021
|New Associate (pro-rated for start date)||$15,000 – N/A
$24,000 – 2020 class rate applied
|1st year (2020)||$24,000||$15,000||$39,000|
|2nd year (2019)||$36,000||$15,000||$51,000|
|3rd year (2018)||$69,000||$20,000||$89,000|
|4th year (2017)||$90,000||$20,000||$110,000|
|5th year (2016)||$108,000||$20,000||$128,000|
|6th year (2015)||$126,000||$30,000||$156,000|
|7th year (2014)||$138,000||$30,000||$168,000|
Bonuses were paid out on December 23rd, meaning it was a very happy holiday indeed.
You can read the full memo on the next page.
*** Wondering if the grass is greener on the in-house side? Click here for a look inside the black box of corporate counsel pay in our 2021 In-House Compensation Report. ***
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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).
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