This elite firm is offering bonuses on top of bonuses on top of bonuses.
Biglaw firms across the country continue to announce bonuses this holiday season. Yesterday afternoon, one of the most successful law firms in America let eligible associates know that they'd be receiving a match of Milbank's generous year-end and special bonuses. But that's not all -- the firm also let associates know that enhanced performance bonuses were up for grabs.
The firm in question is DLA Piper, which brought in $3,829,531,000 gross revenue in 2023, putting it at No. 3 on the Am Law 100. Here's what the bonus grid looks like at the firm:
Bonus eligibility at DLA is based on seniority, performance rating, productivity (the firm has a 2000-hour billable goal), compliance with firm policies, and good standing status. This year, those who meet the criteria for market bonuses will also receive special bonuses.
In what a source described as "excellent news," DLA Piper is offering bonuses above and beyond the prevailing market rate for associates who have gone above and beyond in terms of billable hours and "exceptional" client service. Here's an excerpt from the firm's memo with the details:
[B]onus-eligible associates with a performance rating of four or five will receive a bonus increase commensurate with their performance rating, and bonus-eligible associates who exceed the 2,000-hour expectation will receive bonus increases based on each 100 billable hour threshold they meet, up to 2,700 hours.
Associates who met their hourly goals by December 16 will receive their year-end and special bonuses on December 27, with enhanced bonus payouts to be paid on February 7, 2025. Those who meet their hours by December 31 will receive all bonus payments on February 7, 2025.
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