Now
that
Cravath
has
matched
the
Milbank
year-end
and
special
bonus
scale,
other
leading
law
firms
are
finally
making
their
own
compensation
announcements.
The
latest
firm
to
step
to
the
plate
with
bonus
news
is
none
other
than
McDermott
Will
&
Emery.
The
top
firm
—
which
reported
$1,921,042,000
in
gross
revenue
and
profits
per
equity
partner
of
$3,763,000
in
2023
according
to
the
most
recent
Am
Law
100
—
has
chosen
to
use
the
Milbank
scale
for
its
year-end
bonuses:
-
Class
of
2024
–
$15,000
(pro-rated) -
Class
of
2023
–
$20,000 -
Class
of
2022
–
$30,000 -
Class
of
2021
–
$57,500 -
Class
of
2020
–
$75,000 -
Class
of
2019
–
$90,000 -
Class
of
2018
–
$105,000 -
Class
of
2017+
–
$115,000
McDermott
is
also
matching
the
Milbank
special
bonus
scale,
and
this
is
what
they
will
look
like
at
the
firm:
-
Class
of
2024
–
$6,000
(pro-rated) -
Class
of
2023
–
$6,000 -
Class
of
2022
–
$10,000 -
Class
of
2021
–
$15,000 -
Class
of
2020
–
$20,500 -
Class
of
2019
–
$25,000 -
Class
of
2018
–
$25,000 -
Class
of
2017+
–
$25,000
That
said,
here’s
what
the
complete
2024
bonus
scale
looks
like
at
the
firm:
-
Class
of
2024:
$21,000
(pro-rated) -
Class
of
2023:
$26,000 -
Class
of
2022:
$40,000 -
Class
of
2021:
$72,500 -
Class
of
2020:
$95,000 -
Class
of
2019:
$115,000 -
Class
of
2018:
$130,000 -
Class
of
2017+:
$140,000
But
that’s
not
all,
folks.
MDW
is
also
including
merit-based
bonuses
on
top
of
this
already
generous
bonus
scale.
As
chairman
Ira
Coleman
notes
in
the
firm’s
announcement,
“We
remain
committed
to
being
top
of
market
in
all
that
we
do
and,
consistent
with
prior
years,
about
two-thirds
of
our
Associates
will
earn
above
the
Cravath
scale.”
This
is
incredibly
exciting
news
for
associates.
Will
any
other
Biglaw
firms
offer
super-bonuses
for
their
high
performers?
Congratulations
to
everyone
at
McDermott
Will
&
Emery!
(Flip
to
the
next
page
to
read
the
full
memo
from
the
firm.)
Remember
everyone,
we
depend
on
your
tips
to
stay
on
top
of
compensation
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.
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can
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