If you’re getting versed in my pun game, you know that music you hear is Goodwin Procter coming in off the top rope. The Boston-based mainstay is upping bonuses to match the accepted DPW standard… with a bit of a happy twist!
First, the usual boilerplate: Goodwin clocked in at No. 23 in the Am Law 100 this year after generating $1,486,263,000 in revenue, amounting to $2,883,000 in profits per equity partner. So no one expected this firm to be anywhere but at the top of the compensation game.
Which, as a refresher, is this:
| Class | Base Bonus | Special Bonus |
| Class of 2021 | $15,000 | N/A |
| Class of 2020 | $20,000 | $4,000 |
| Class of 2019 | $30,000 | $6,000 |
| Class of 2018 | $57,500 | $11,500 |
| Class of 2017 | $75,000 | $15,000 |
| Class of 2016 | $90,000 | $18,000 |
| Class of 2015 | $105,000 | $21,000 |
| Class of 2014+ | $115,000 | $23,000 |
With the 2021 cash pro-rated, of course.
The interesting twist is in the phenomenon of “extra” cash for associates who exceeded 1950 hours or earned a “Distinctive” rating (not to be cynical, but we’re reading that as “in practice groups likely to be poached”). A lot of firms have teased this sort of additional bonus pool, but Goodwin offers a little transparency in announcing that associates can secure “a maximum of 175% of the new scale amount.” Nice!
Congrats, Goodwin folks.
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Joe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.
