It’s bonus season in Biglaw and employees are nervously waiting to see if the companies match not only the Cravath year-end bonus scale, but also the special bonus scale. If certain companies refuse to meet the special awards, there will really be a new pay differentiation between biglaw companies this year.
Morgan Lewis employees can now breathe a sigh of relief as the company’s forces have just announced that the employee holiday season this year will be particularly festive, with up to $ 140,000 in cold hard cash depending on their grade year. Here are the details:
As is common practice, US employees have just received a voicemail from [chair] Jami McKeon informs us that the firm will meet the year-end bonus scale of Am Law 20 law firms as well as the special fall bonuses of Am Law 20 law firms. Jami wanted to let us know on the eve of Thanksgiving as an appropriate expression of gratitude. Exact / further details will be announced next week.
“Expected and estimated news,” said a source. If the company is really operating as usual, the first few years will not receive a prorated bonus as Morgan Lewis’ fiscal year begins in October. Sorry, first years!
Bonus money is expected to be deposited into employees’ accounts in January 2021.
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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.