One other day, one other Biglaw agency that’s taking a cue from Davis Polk and rising the scale of its bonus pool.
Final week, Hogan Lovells — a agency that introduced residence $2,308,401,000 in gross income final 12 months, placing it in ninth place on the latest Am Regulation 100 rating — introduced its Cravath match in direction of the top of final week. Since then, the prevailing market commonplace for bonuses has modified, and now contains one-time particular bonuses. By no means worry, as a result of this elite Biglaw agency gained’t be letting its associates down. Right here’s what the particular bonus match seems to be like at Hogan Lovells:
Per Richard C. Lorenzo, the agency’s regional managing companion for the Americas, to be eligible for these particular bonuses, associates should meet a minimal of 1850 billable hours (together with firm-approved issues which might be billable, akin to first-year integration hours and sure forms of professional bono issues), in addition to as much as 150 different professional bono hours and 50 variety & inclusion hours.
Congratulations to everybody at Hogan Lovells!
(Flip to the subsequent web page to learn the complete memo from Hogan Lovells.)
Keep in mind everybody, we rely in your tricks to keep on prime of essential bonus updates, 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 accessible. You’ll be able to take a photograph of the memo and ship it through textual content or e mail should you don’t need to ahead the unique PDF or Phrase file.
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Staci Zaretsky is a senior editor at Above the Regulation, 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 suggestions, questions, feedback, or critiques. You’ll be able to comply with her on Twitter or join together with her on LinkedIn.
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