he will not be there Jelly Club of the Month Disaster in Mayer Brown this year! Biglaw, which ranked 17th in the latest Am Law 100 rankings, with total revenues of $ 1,484,000,000, delights its partners with special bonuses at full market price – no hours required.
The alleged recognition rewards for COVID have become all the rage Among Biglaw firms Starting in autumn, thank you for Associated“ Hard work during a pandemic. Market-specific rewards range from $ 7,500 to $ 40,000, depending on the year of term.
Mayer Brown’s special rewards add to the typical year-end rewards. These bonuses, which could vary depending on the office, will remain at the same levels as last year. You can read the full company announcement On the next page.
It was a bumpy year for Meyer Brown. Back in May, The company announced a series of progressive salary cuts. Although at that time the cuts were expected to continue until the end of the year, they changed course in September and Pay back To pre-epidemic levels.
The mentors reported that the company retroactively paid salaries to return the cut wages:
The company already made full payments for the discounts to all partners in October. Originally indicating that such payments might only be made to “high performers”, the company actually paid them to everyone. Thus, with regular payout of annual bonuses and special bonuses matching the market (no hour requirements), Fellows are now in a position to earn as much as the average person would earn in any major company.
All this means there are some happy colleagues in the company. Here is a sample of the comments:
This is a big deal because it shows the company has been honest and sticks to its word. Pandemic pay cuts have truly been a preemptive measure driven by preserving the company’s branding during an uncertain time. I was skeptical about it and would consider jumping off the ship if the rewards didn’t materialize. But when it became clear to the resolute leadership that things were fine, despite the pandemic, they made sure to compensate us in proportion to the market. This is a market match and will remain so. Morale is high. In fact, the company was having a great year and was going briskly in the spring.
Most importantly, even during the period of preventive austerity, the company also did not undertake any layoffs, including employees.
Company watched Sidley get burned in required business hours for special bonuses and stepped up. Colleagues are happy. Insanely crowded year. I know many colleagues will receive year-end bonuses in excess of the market. I don’t know anyone who isn’t going to hit his hours for a full bonus or more.
Congratulations to anyone in the company!
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Catherine Rubino is senior editor of Above the Law and host of The Jabot Podcast. AtL Tips are the best, so please get in touch. Feel free to email to her For any advice, questions or comments and follow it on Twitter (@Catherine 1).