Sidley Austin has joined the ranks of top-tier Biglaw firms by offering their associates premium bonuses, backed by their impressive $3.1 billion in gross revenue last year. The firm has detailed a comprehensive bonus schedule for its associates, contingent on achieving a 2,000-hour billable target. The bonus structure is outlined as follows:
- 2016 & 2017: $115,000 year-end bonus with a $25,000 special bonus
- 2018: $105,000 year-end bonus with a $25,000 special bonus
- 2019: $90,000 year-end bonus with a $25,000 special bonus
- 2020: $75,000 year-end bonus with a $20,000 special bonus
- 2021: $57,500 year-end bonus with a $15,000 special bonus
- 2022: $30,000 year-end bonus with a $10,000 special bonus
- 2023: $20,000 year-end bonus with a $6,000 special bonus
Beyond the base bonuses, there is a noteworthy incentive for associates who go above and beyond. The firm has announced that those exhibiting “higher productivity and/or exceptional performance” can receive a bonus boost of up to 50% over the base amount for their class year.
For associates who may not reach the 2,000-hour mark, there is also mention of potential eligibility for partial bonuses. Sidley maintains its tradition of gradually moving associates upwards on the existing compensation scale, further solidifying their status as a competitive employer in the legal industry.
The bonuses are slated for distribution before December 31. The complete email announcement from Sidley Austin regarding the bonuses is available to read here.