After most of us took a break to begin the holiday festivities, we got news of a few more bonuses out there. And it turns out there’s some connective tissue among the firms we heard from. We’ve already talked about AZA — the Texas-based boutique issuing its bonuses. But we’ve also heard from Haynes and Boone and Locke Lord about their matches.
Both firms handle bonuses individually, but it sounds like both staked their claim to play with the rest of Biglaw:
First, Haynes and Boone, which opts for a black-box structure:
Blackbox bonus structure, but seems like it was full match across the board. Full market bonus and special bonus. No bonus for billing above the 2000 hour threshold, which many find disappointing. Generally, associates seem happy that HB continues to match the standard market and special bonus amounts – but frustrating that things aren’t always clear in this “black box” model.
We couldn’t agree more when it comes to transparency.
Locke Lord may send out a memo eventually, but for now they’re handling via phone. The firm offered even more cash, catching up on Fall bonuses:
Some associates received the call today about bonuses and they are ecstatic to say the least. Included in the bonuses are a fall bonus, Covid bonus, and our regular bonuses. We did not know a fall bonus was coming. Many mid levels associates in the mid six figures. I got 30% more money than I was expecting if that gives you an idea. I’m very, very happy. Locke lord has always been a great place to work but this is above and beyond.
This is all great news for associates across the country at these Lone Star-based firms.
*** Wondering if the grass is greener on the in-house side? Click here for a look inside the black box of corporate counsel pay in our 2021 In-House Compensation Report. ***
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] 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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