Money, Money, Money: It’s something Biglaw employees love to hear good news about, especially when more of it ends up in their bank accounts for all of their hard work during the pandemic. Dozens of firms have already offered special bonuses to their employees and lawyers, and another firm recently joined the bonus craze.
McDermott Will & Emery – a firm that had gross sales of $ 1,172,114,000 in 2019, ranking 30th in the most recent Am Law 100 ranking – emailed lawyers yesterday afternoon to share the wealth. The company corresponds to the Davis Polk scale. This is what MWE looks like (full memo on the next page):
Company employees are expected to be on track to meet a threshold of 1850 on an annual customer billable hours basis in order to receive these bonuses, payable in late June and late October. Further details, e.g. For example, the availability of catch-up payments if employees miss the June payment mark will be announced later this week. Congratulations to everyone at McDermott!
(Turn to the next page to see the full McDermott Will & Emery memo.)
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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.