When Baker McKenzie kicked off the 2020 bonus season before Thanksgiving that year, North America CEO Colin Murray told U.S. associates via email the firm’s bonus scale would match “any increases in the market should they occur.”

After relinquishing first-mover position to Cravath, Swaine & Moore in 2021, Baker McKenzie again led this year’s bonus season announcements—absent the promise of matching peer firms.

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