Bonus season always brings an air of excitement to law firms, and this year is no exception. Above The Law recently reported that global law firm Hogan Lovells, known for its impressive revenue of $2,432,000,000 last year, is not only offering bonuses, but raises as well, kicking off the fiscal year in high gear.
After experiencing an influx of talent from Stroock & Stroock, Hogan Lovells is set to increase base compensation effective January 1. Employees in the classes from 2023 down to 2016+ can expect to receive between $225,000 to $435,000.
- Class of 2023: $225,000
- Class of 2022: $235,000
- Class of 2021: $260,000
- Class of 2020: $310,000
- Class of 2019: $365,000
- Class of 2018: $390,000
- Class of 2017: $420,000
- Class of 2016+: $435,000
Additionally, Hogan Lovells is also bestowing bonuses, which range from $20,000 for the Class of 2022, and escalate to $115,000 for classes 2016+. These will be awarded in the last paycheck of the year, with additional bonuses available for those who have exceeded billing requirements.
- Class of 2022: $20,000
- Class of 2021: $30,000
- Class of 2020: $57,500
- Class of 2019: $75,000
- Class of 2018: $90,000
- Class of 2017: $105,000
- Class of 2016+: $115,000
The full memo detailing Hogan Lovells salary increase and bonus announcements has been reproduced here.
Above The Law is encouraging readers to share salary news from other firms to provide a more comprehensive view of the industry’s financial landscape. They are also offering ATL’s Salary & Bonus Alerts for those who wish to stay updated on the latest bonus announcements as soon as they are published.
Joe Patrice, a senior editor at Above The Law and co-host of “Thinking Like A Lawyer”, covered this news.