If employees have to wait until January for their year-end bonuses, at least many of them take home more cash than the standard Biglaw Bonus.
At Latham & Watkins, bonuses come with a 1,900 hour requirement, but they also give extra cash for those who settle above that threshold. And it looks like the Latham staff have been pretty busy. The base bonuses (both year-end bonuses and special bonuses that Latham issued in the fall) are at market level, but the median bonuses for each class year exceeded the market rate. And the top bonuses are way above what the market is putting out.
The company has internally distributed the following table, and you can get an idea of how generous the bonuses are at Latham (full note on next page):
The company also announced the success of its charitable donation initiative “Thank you through return”. A total of US $ 2.7 million was donated by the company and its employees to organizations fighting hunger.
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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).