Perkins Coie LLP has announced that it will be awarding special bonuses to its associates, a reversal from an earlier decision this month where the firm initially opted out of offering these extra incentives. The firm, founded in Seattle, is aligning its bonus structure with the scale set by Milbank LLP, which is generally followed by many leading law firms within the sector. Associates will receive bonuses ranging from $6,000 to $25,000, based on their seniority levels.
Perkins Coie’s spokesperson has stated, “This decision is consistent with our commitment to paying market-competitive compensation and reflects the firm’s strong financial performance this year.” This move is notable given the intense competition among Big Law firms to attract and retain top legal talent, with compensation packages being a critical factor in this pursuit.
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