The closer we get to Friday night, the more likely it is that Biglaw firms will announce bonus news that’s sure to delight.
Yet another firm has announced bonuses that reward associates for billing well above and beyond what was expected of them, except in this case, many associates were surprised by the fact that less was required of them than usual to achieve a market bonus — meaning that some may be receiving some unexpected additional cash.
The firm in question is Katten Muchin, and associates seem pretty thrilled:
Katten announced bonuses today! The big news this year is that the firm is paying market bonuses at 2000 hours. Previously, the threshold for market was 2100, with a smaller bonus at 2000. On top of that, the announcement this year is much earlier (previously mid-to-late January), as is the payment (previously mid February).
Here’s the scale for Katten’s over-the-top bonuses for high billers:
Note that there’s not even a pro-rated bonus included for the class of 2019. Ouch.
(Flip to the next page to see the full memo from Katten.)
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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.