As we approach the holiday season, the anticipation of bonuses intensifies among Associates across Biglaw firms. Although some associates are eyeballing their potential bonuses as a means to sweeten their own circumstances, perhaps looking to knock out student loans or invest in property, a suggestion has been raised that the associates can utilize these additional funds for the betterment of those in need.
Numerous firms are projected to augment their desired increase in associate remuneration in the form of increased salaries and bonuses. As the bonuses and their disbursement are still a topic of discussion, it is a fitting time strike up the conversation about corporate philanthropy.
Recognizing ‘Giving Tuesday’ – a global generosity movement unleashing the power of people and organizations to transform their communities, associates are being urged to think benevolently. This could be done by means of financial donations to worthy organizations, or giving their time to causes that are significant to them. It is worth mentioning, these altruistic gestures might also be matched by the law firms themselves, as several firms do promote similar initiatives.
As the tradition goes, partners in legal firms typically share their wealth with the associates. This year, it is encouraged that this practice is extended beyond the walls of corporate law firms. When the normal recipients of this monetary tradition receive their share, it may be worth considering how this wealth can also be used to assist those who are notably less fortunate.
The call is clear: legal associates blessing from incoming bonuses could ponder pre-spending a part of their bonuses for charity, thereby playing a small but important role in their communities.