Employee compensation is once again a hot topic in Biglaw. Special bonuses have found their way through the Biglaw elite and we’re just waiting to see how much of the rest of the pack will match. One company that doesn’t give out special bonuses is McGuireWoods – but they’ve managed to keep (at least some) employees happy.
According to emails (fully available on the next page) sent by company management, they will be moved to a single employee compensation grid in all offices. This means that employees in smaller markets receive a raise, everyone else not so much.
As a tipster for the company notes:
McGuireWoods is not making any special bonuses for 2021. Instead, they go into full lockstep, “a single pay scale for all employees in all US offices”. Great day for employees in small market towns … nothing new to the rest of the employees …
The company’s new scale is as follows:
It is also noteworthy that the company is increasing its productivity bonus pool. Employees who bill for 2050 are eligible for up to double the bonus, and the amounts increase for all productivity categories.
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Kathryn Rubino is Senior Editor at Above the Law and host of The Jabot podcast. AtL tipsters are the best so please connect with her. Feel free to email her tips, questions, or comments and follow her on Twitter (@ Kathryn1).