Credit: Angelov/Adobe Stock Midyear Associate Bonuses Are Catching Big Law Attention, but Will Other Firms Actually Follow?
"Could it get some of those firms thinking? I think it definitely could," said Stephanie Biderman, an associate recruiter.
June 24, 2024 at 04:21 PM
5 minute read
What You Need to Know
- Some observers say recent summer bonuses from litigation boutiques could 'definitely' get Big Law firms thinking about whether to match, or increase, end-of-year offerings.
- However, others are skeptical. Boutiques have fewer lawyers to worry about and the associate lateral market hasn't been nearly as busy as some previous years.
- 'My thought is that the big firms are not going to wholesale jump into this trend,' one recruiter said.
Two litigation firms have announced summer bonuses in June. Could Big Law firms be next?
The jury is still out on whether the Am Law 200 will follow boutiques Hueston Hennigan and McKool Smith in offering midyear bonuses of up to $25,000 and $30,000, respectively. But those offerings in the middle of a particularly busy year for litigation could "definitely" be keeping some of the larger firms on their toes, some industry observers say—if not for midyear offerings themselves, then maybe for boosting year-end bonuses.
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