Credit: ngad/Adobe StockWhy Hogan Lovells and Perkins Coie Reversed, Will Now Pay Out Special Bonuses to Associates
"When you consider the amount of money saved versus the amount of bad press you get and the general low morale of the workforce that you depend on, it becomes a very difficult situation,” said a consultant about choosing not to match on bonuses.
December 30, 2024 at 01:52 PM
4 minute read
What You Need to Know
- Perkins Coie and Hogan Lovells will now hand out special bonuses to their associates ranging from $6,000 to $25,000.
- The firms initially opted to leave out special bonuses in their bonus packages announced earlier this month.
- Associate backlash, concerns from partners about losing talent, and peer firm pressure are some of the reasons a firm may change its mind.
This article has been updated with a statement from Hogan Lovells.
After facing backlash for initially opting not to pay special bonuses to associates, Hogan Lovells and Perkins Coie are changing course, the firms confirmed Monday. The two firms are now offering special bonuses ranging from $6,000 to $25,000, depending on their class year, in addition to year-end bonuses.
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