Another renowned Biglaw firm, Fish & Richardson, has chosen to match the newly established associate compensation scale put forward by Cravath last week, in a move that will reward their hard-working associates with welcome raises. Ranked as the 92nd firm on the recent Am Law 100 and boasting a gross revenue of $512,043,000 last year, Fish & Richardson has introduced a novel but increasingly familiar compensation scale amongst Biglaw firms.
The new compensation arrangement, which will be effective from January 1, is detailed on a separate page containing a full memo of the firm. It’s important to note that the firm has decided not to announce their year-end bonuses, choosing instead to distribute them based on individual merit. The firm maintains that for “a number of associates” bonuses go beyond the market standard.
Keeping abreast of significant bonus updates within the law industry is dependent on the contribution and tips from professionals such as yourselves. When your company chooses to match a rival’s compensation scale, your tip-offs make a significant difference. If your firm decides to follow suit, remember to send us a text on (646-820-8477) or email us (subject line: “[Firm Name] Matches”). Should a memo be available, please include it in your message. You can click a picture of the memo and send it by text or email if you do not wish to forward the original PDF or Word file.
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