It’s Friday, so despite our pleas, we fully expect Biglaw firms to go around announcing special bonuses.
Consistent with this trend, Morrison & Foerster has announced their own special bonuses for hardworking associates. As you’d expect from a firm ranked 32nd in the Am Law 100 ranking with $1,147,200,000 in 2019 gross revenue, they’re matching the prevailing market rate set by Davis Polk.
The firm’s bonus payment schedule is as follows:
As you can see, the firm is going with June and December payments that are backloaded. Associates will have to meet the firm’s standard billable hours requirement on an annualized basis to qualify, but if they miss the hours for the June payment they can make it up for the second payment. And, as you’d expect, the firm confirmed these special bonuses are in addition to the typical year-end bonus pool.
You can read the firm’s full memo on the next page.
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).