The increasing trend of Biglaw compensation that is being seen mostly among New York-based firms, such as Milbank and Cravath, is finally making its way to the West Coast. Fenwick and West, a notable legal institution in this region, has now decided to match these raises. The firm, which generated an impressive gross revenue of $750,435,000 in 2022, thereby ranking 66th on the Am Law 100, unveiled the scale of these raises recently.
However, these raises aren’t the only way the firm is appreciating its associates. Year-end bonuses are also being awarded according to a specific grid, further stimulating delight among the associates. These bonuses, scheduled to be paid on December 29th, will be given to those who are able to bill 1,950 credited hours. Furthermore, those who put in more than 2,100 hours also stand the chance to be eligible for the firm’s Rest, Recreation, and Relaxation program, which offers value ranging from $3,000 to $12,000. Adding to this, associates who make ‘extraordinary’ contributions are also set to be rewarded with time in the firm’s distinguished condo locations in Hawaii and St. Thomas.
More details on this raise and bonus architecture, along with a complete memo, can be found on the official announcement page.
All legal institutions are encouraged to report similar compensation and reward updates by either contacting via text on 646-820-8477 or email. For those seeking email communications, using the subject line “[Firm Name] Matches” is advised. To ensure confidentiality, photographs of the memos can be sent instead of the original PDF or Word files.
Moreover, for legal professionals who wish to stay updated with bonus alerts and salary announcements, Above the Law offers enlisting services. You can register by entering your email address at the end of the announcement post. Existing subscribers don’t need to re-register as they will automatically receive email notifications regarding each bonus announcement within minutes of their publication.
The author of the article, senior editor Kathryn Rubino, can be contacted for further details or clarification on her Twitter @Kathryn1 or on Mastodon @Kathryn1@mastodon.social. Rubino is also the host of the celebrated podcast The Jabot podcast and co-host of the ‘Thinking Like A Lawyer’ programme.