Another day, another Biglaw firm that’s taking a cue from Davis Polk and increasing the size of its bonus pool.
Last week, Hogan Lovells — a firm that brought home $2,308,401,000 in gross revenue last year, putting it in 9th place on the most recent Am Law 100 ranking — announced its Cravath match towards the end of last week. Since then, the prevailing market standard for bonuses has changed, and now includes one-time special bonuses. Never fear, because this elite Biglaw firm won’t be letting its associates down. Here’s what the special bonus match looks like at Hogan Lovells:
|
Special Bonus
|
|
| 2020 | $4,000 |
| 2019 | $6,000 |
| 2018 | $11,500 |
| 2017 | $15,000 |
| 2016 | $18,000 |
| 2015 | $21,000 |
| 2014
(and above) |
$23,000 |
Per Richard C. Lorenzo, the firm’s regional managing partner for the Americas, to be eligible for these special bonuses, associates must meet a minimum of 1850 billable hours (including firm-approved matters that are billable, such as first-year integration hours and certain types of pro bono matters), as well as up to 150 other pro bono hours and 50 diversity & inclusion hours.
Congratulations to everyone at Hogan Lovells!
(Flip to the next page to read the full memo from Hogan Lovells.)
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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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.
