Information of raises and bonuses has been coming in scorching throughout the Biglaw scene ever since Cravath introduced its new compensation scale — and whereas many associates are out celebrating, others are beginning to get antsy taking part in the ready recreation with their corporations.
Fortunately, associates at this high agency not want to attend.
We’ve obtained phrase that Sheppard Mullin — a agency that introduced in $1,052,812,000 gross income in 2022, placing it at No. 48 in the newest Am Legislation 100 — will likely be matching the Cravath compensation grid, that means these are the salaries associates on the agency will see, as of January 1, 2024:
Sheppard Mullin can also be matching the Cravath bonus scale, and identical to in years previous, the agency is handsomely rewarding associates who went above and past the decision of obligation when it got here to their billable hours. That is what year-end bonuses will seem like on the agency, to be paid on January 26, 2024:
As you may see, Sheppard Mullin awards base year-end bonuses on the 2000-hour mark, and those that go over on their billing will obtain much more bonus bucks. Particularly, associates who file 2200 and 2400 hours will obtain 110% and 120% of the market-based bonus.
Congratulations to everybody at Sheppard Mullin!
(Flip to the following web page to learn the complete memo from the agency.)
Keep in mind everybody, we rely in your tricks to keep on high of compensation updates, so when your agency publicizes or matches, please textual content us (646-820-8477) or e-mail us (topic line: “[Firm Name] Bonus/Matches”). Please embody the memo if obtainable. You’ll be able to take a photograph of the memo and ship it through textual content or e-mail should you don’t wish to ahead the unique PDF or Phrase file.
And should you’d like to join ATL’s Bonus Alerts (which is the alert checklist we additionally use for wage bulletins), please scroll down and enter your e-mail deal with within the field beneath this submit. In the event 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 on your assist!
Staci Zaretsky is a senior editor at Above the Legislation, the place she’s labored since 2011. She’d love to listen to from you, so please be at liberty to e-mail her with any ideas, questions, feedback, or critiques. You’ll be able to comply with her on Twitter and Threads or join together with her on LinkedIn.
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