A week after Milbank got the bonus party started, and only a couple of days since Cravath got on board, Biglaw firms are starting to come around. So far, it’s mostly Am Law 50 firms, and the latest addition to the associate bonus party is no exception.
Today Dechert, #39 on the ranking with $1,293,528,000 in gross revenue last year, announced bonuses. The base bonus schedule should look familiar — it’s a match of the Milbank special and year-end bonuses.
Associates that bill a total of 1,950 qualifying hours (client, pro bono and community) are eligible for these bonuses, payable before the end of January 2025. Associates that hit higher billable thresholds are eligible for even more cash. At the 2,200 mark associates can expect an extra 30%. At 2,400 associates are looking at a 40% bump. Full details on the bonuses are available in the firm’s memo, available in full on the next page.
So is your firm matching *both* the year-end and special bonuses? Let Above the Law know! We depend on your tips to stay on top of important bonus updates, so when your firm matches (or if they fail to do so), 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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Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @[email protected].
