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Biglaw Firm Comes Over The Top Of Market Bonuses For Associates

Daily Legal Briefing by Daily Legal Briefing
January 4, 2022
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Biglaw Firm Comes Over The Top Of Market Bonuses For Associates
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Rich investor businessman – Corporate hipster bathing in bathtub filled with money at homeWe 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

Bonus

New Associate (pro-rated for start date) $15,000 – N/A

 

$24,000 – 2020 class rate applied

$15,000 $39,000 (pro-rated)
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. ***

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!


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).


Enter your email address to sign up for ATL’s Bonus & Salary Increase Alerts.






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