Bonus “szn” is formally in full swing. Simply days after Cravath kicked issues off, setting an annual bonus mark and retroactively becoming a member of Milbank’s summer time particular bonuses, we’ve obtained one other agency confirming what all of us anticipated: Baker Botts is matching the Cravath scale.
The Houston-based agency — which clocked a document 2024 with income up 11.8 p.c and income per fairness associate up 17.6 p.c — indicators a strong 2025 by rewarding associates with the market-rate bonuses.
Right here’s the year-end bonus breakdown:
To qualify for these bonuses, associates and particular counsel have to be in good standing and employed on the fee date, assembly their hours targets for the bonus calculation interval working December 1, 2024 by November 30, 2025. The particular bonuses are for “U.S. associates and counsel who’ve met or exceeded productiveness targets for shopper chargeable work.” The “shopper chargeable” language you may bear in mind setting off some controversy final yr as tipsters reported feeling the rug pulled out when the agency adopted the brand new commonplace reducing out some beforehand creditable hours. This yr, presumably each one knew the rating coming in.
The memo takes pains to remind everybody that “cash is way from the only measure of our dedication to our folks” — which is precisely what you say proper earlier than asserting how a lot cash you’re giving folks.
At the very least I didn’t must mud off any “bonuses from the oven” joke this yr. Progress.
Congrats to everybody at Baker Botts!
Bear in mind everybody, we rely in your tricks to keep on prime of these items. So when your agency matches, please textual content us (646-820-8477) or e-mail us (topic line: “[Firm Name] Matches”). Please embrace the memo if out there. You’ll be able to take a photograph of the memo and ship it by way of textual content or e-mail if you happen to don’t wish to ahead the unique PDF or Phrase file.
And if you happen to’d like to join ATL’s Bonus Alerts (which is the alert checklist we’ll additionally use for wage bulletins), please scroll down and enter your e-mail tackle within the field beneath this submit. When you beforehand signed up for the bonus alerts, you don’t must do something. You’ll obtain an e-mail notification inside minutes of every bonus announcement that we publish.
Joe Patrice is a senior editor at Above the Regulation and co-host of Pondering Like A Lawyer. Be at liberty to e-mail any suggestions, questions, or feedback. Comply with him on Twitter or Bluesky if you happen to’re concerned with regulation, politics, and a wholesome dose of school sports activities information. Joe additionally serves as a Managing Director at RPN Govt Search.
