It’s November 8, and Thanksgiving is just a couple of weeks away, which means that bonus season is nearly upon us. Wouldn’t it be nice if your law firm gave you a little something extra to be thankful for this year? We sure think it would be! After all, the news coming from Biglaw lately has been a bit depressing, with worries of outright layoffs and stealth layoffs plaguing associates’ minds. Let’s give those hardworking attorneys something to be excited about for once.
Let’s reminisce about bonuses for a moment, shall we? This is what last year’s supersized Cravath bonuses looked like:
- Class of 2021 – $15,000 (pro-rated)
- Class of 2020 – $20,000
- Class of 2019 – $30,000
- Class of 2018 – $57,500
- Class of 2017 – $75,000
- Class of 2016 – $90,000
- Class of 2015 – $105,000
- Class of 2014 – $115,000
As we noted in our annual bonus survey report, unlike last year, no one is really expecting any kind of special bonus on top of their regular bonuses this year due to current economic conditions. While that may be a little underwhelming considering last year’s bonuspalooza, many of our sources have managed to convince themselves that absolutely anything at all is better than being laid off.
Wondering when your bank accounts will be a little more flush? Here’s a list of the dates when year-end market bonuses hit Biglaw since 2006, the very first year Above the Law started publishing bonus news. Take a look:
If a firm other than Cravath decides to lead the pack, then bonuses may come down the pipeline any day now. The best thing for associates to do right now while they wait is to just keep billing, just keep billing, just keep billing — that is, if they’ve actually got any work that’s billable. In the meantime, we’ll be right here along with you, waiting on bonuses to be announced. Tick tock, Biglaw….
Remember everyone, we depend on your tips to stay on top of important bonus updates, so when your firm announces or matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Bonus/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 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.
