All those hours billed… for nothing.
The post What If This Year’s Biglaw Bonus Is No Bonus At All? appeared first on Above the Law.
I think at a lot of firms, the bonus is keeping your job in an environment where many firms aren’t performing as well as they have in the last couple of years. And in firms that are performing with strength and have high profits to reflect that, I think we’ll still see bonuses for highest performers whether measured in hours or other ways.
— Law firm management consultant Kent Zimmermann, in comments given to the American Lawyer, on what the bonus season may look like this year across different tiers of Biglaw firms. Zimmermann said he expects many firms may “rein in the swagger” when it comes to their bonus packages. No other Biglaw firm has spoken on bonuses since Baker McKenzie made its announcement, as they all seem to be waiting for Cravath’s seal of approval.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.