Spring is in the air and a new biglaw bonus war is just around the corner. Willkie Farr got the ball rolling last Friday when the company announced it would be offering up to $ 40,000 in bonuses to its employees, half this spring and half this fall. Davis Polk added to Willkie just yesterday, offering both employees and employees special rewards of up to $ 64,000, again in two separate payments (with a larger payment in the fall).
And now … we have our first match!
Fenwick & West today announced special bonuses ranging from $ 12,000 to $ 64,000, depending on the year of class, which match the DPW (including attorney) scale. Bonuses are paid to those on track to bill 1,950 creditworthy hours or more for 2021, measured on a prorated April 30 and August 31 for payments in May and September. Here is the Fenwick bonus scale (turn to the next page to see the memo):
These special rewards are on top of the rest, relaxation, and recreation rewards that the company announced about two weeks ago. Here’s a little more on that (and the full memo is on the next page):
Fenwick suggests using these reward funds for rest (vacation, hotels, flights (if safe), rental cars), recreation (bikes, paddleboards, hot tubs, game systems) and relaxation (spa visits, skin care, new mattresses, luxury bedding). The company is trying to prevent burnout of employees and the leadership “is working hard to reduce the pace of work to a level that is sustainable [employees’] long-term enjoyment of work and life. “
Congratulations to all of the company’s employees on the huge bonus cash and rewards for health and wellness. You deserve it!
Which company will get on board the bonus car next? We will watch.
(Scroll to the next page to see the full memos from Fenwick & West.)
Remember everyone, we need your tips to keep us updated on important bonus updates. If your company matches, please send us an SMS (646-820-8477) or send us an email (subject: “[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 do not wish to forward the original PDF or Word file.
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Staci Zaretsky is Senior Editor at Above the Law, where she has been working since 2011. She would love to hear from you. Please send her an email with tips, questions, comments or criticism. You can follow her on Twitter or connect with her on LinkedIn.