Today is August 11. It’s been nearly two full business weeks since we publicized what we believed were the first special bonuses to be handed out to associates this summer. Since then, we’ve heard nothing but crickets.
Have the fears of a looming recession really permeated Biglaw firms to the point where summer bonuses are a no-go this season? Did the grim-looking Q2 Law Firm Financial Index scare law firm leaders off?
Here are some representative reactions from our tipsters on 2022 summer bonuses (and the lack thereof):
“Where are the bonuses? Can you follow up on the complete silence surrounding summer bonuses?”
“These firms are slacking. My experience can best be summarized by: (a) brutal hours; (b) relentless pressure; (c) unresponsive partners; and (d) no summer bonuses.”
“Biglaw is in the business of associate exploitation. And the partners know it. We all know it. The fact that Biglaw is dragging its feet when it comes to announcing summer bonuses is just one more data point to validate what we all know is true.”
“Associates sacrifice a great deal for the profits that Biglaw partners take home, and not sharing those profits with associates is a BIG mistake.”
We can bemoan the situation all we want, but what really moves markets is hard news. If your firm announces summer bonuses, please let us know ASAP, so we can shout the news from the rooftops — and improve the lot of associates all across the land.
Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Special Bonuses”). 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’ll 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.
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.