According to a recent article on Above the Law, it was noted that Norton Rose Fulbright, a Biglaw firm regarded for its careful attention to detail, may have missed something crucial in its latest round of salary increases. Norton has recently increased the salaries of its employees, however, the detail that seems to have slipped through the cracks is associated with bonuses.
While Norton decided to raise salaries, it apparently missed the trend being set by some of the other industry giants such as Cravath, Milbank, and Skadden. These firms, along with most of their peers, aren’t just bumping up salaries, they’re also increasing bonuses, a detail that Norton seems to have overlooked.
The article mentioned that the firm cleared an impressive $6.5 billion in gross revenue last year, highlighting that the financial capacity of the firm likely isn’t the issue. It also pointed out that not all of Norton’s employees seem to have benefited from these salary raises with attorneys based out of St. Louis and Minneapolis seemingly excluded from these increases. The question of why the additional compensation in the form of bonuses accompanies the salary increases for the rest of the industry but excludes Norton’s employees remains unanswered.