As Biglaw corporations jockey to place themselves as compensation leaders — or a minimum of keep away from being labeled as laggards — associates throughout the Am Regulation 100 proceed to refresh their inboxes, hoping for a market match of the Cravath/Milbank scale for year-end and particular bonuses. At some corporations, nevertheless, associates face the return of black-box bonuses, leaving many questioning how, precisely, their payouts have been determined. One agency that makes use of a black-box construction lately introduced bonuses, and fortunately, it appears to be a match.
The agency we’re talking about is Texas-based Haynes Boone — a agency that introduced in $635,840,000 gross income in 2024, placing it at No. 86 on the Am Regulation 100. Final week, the agency introduced individualized bonuses throughout all class years, and sources inform us that as long as attorneys have been capable of hit 2,000 hours, they obtained a market match. For many who don’t recall, right here’s what a market match appears like at most corporations (give or take the inclusion of the Class of 2025):
- Class of 2024 – $20,000 / $6,000
- Class of 2023 – $30,000 / $10,000
- Class of 2022 – $57,500 / $15,000
- Class of 2021 – $75,000 / $20,000
- Class of 2020 – $90,000 / $25,000
- Class of 2019 – $105,000 / $25,000
- Class of 2018+ – $115,000 / $25,000
Right here’s some further clarification on Haynes Boone’s bonus compensation technique:
The agency’s memo goes on to notice that those that don’t obtain bonuses on scale for his or her class could possibly obtain a “catch-up” bonus if their efficiency later meets requirements. For a agency that places its money within a black field, that is about as near transparency as you will get.
Congratulations to everybody at Haynes Boone!
Bear in mind everybody, we rely in your tricks to keep on high of compensation updates, so when your agency broadcasts or matches, please textual content us (646-820-8477) or e-mail us (topic line: “[Firm Name] Bonus/Matches”). Please embrace the memo if obtainable. You’ll be able to take a photograph of the memo and ship it through 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 listing we additionally use for wage bulletins), please scroll down and enter your e-mail tackle within the field under this submit. When you beforehand signed up for the bonus alerts, you don’t have to do something. You’ll obtain an e-mail notification inside minutes of every bonus announcement that we publish. Thanks in your assist!
Staci Zaretsky is the managing editor of Above the Regulation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to e-mail her with any ideas, questions, feedback, or critiques. You’ll be able to comply with her on Bluesky, X/Twitter, and Threads, or join together with her o
