It’s the day before Thanksgiving, and I’m sure there are lots of you reading this that are ready to be done with work already. If that’s you, Above the Law has you covered with the latest in Biglaw bonus news to distract you as the minutes count down to the end of the day.
Fried Frank — a firm ranked 60th on the AmLaw 100 with $780,300,000 in gross revenue in 2020 — is the latest to get in on the new year-end bonus scale. The lockstep bonuses, which are up 15 percent over last year’s bonuses, are given on the below schedule:
Plus associates and counsel are eligible for a “premium” on top of these bonus amounts, which can up the bonus payout between $2,250 – $30,000. As noted in the firm’s memo, “an associate in the class of 2014 is eligible to receive a maximum year-end bonus of $145,000.” And remember, all this largess is in addition to the previously announced special bonuses. Niiiiiice. It’s becoming increasingly common for firms to offer some additional bonus money on top of the traditional lockstep amount. Given the super busy lateral market, it’s unsurprising that those associates that are particularly valuable are being given a little (or a lot) extra.
All bonuses will be paid on or before December 31st. You can read the full memo on the next page.
Congratulations to associates on the generous bonuses!
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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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).