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As the minutes tick by .6 at a time, attorneys at Biglaw firms across the country are impatiently waiting to see whether they’ll soon be the lucky recipients of a special bonus memo.
The wait is over at Lowenstein Sandler, where associates, counsel, and senior counsel just found out that bonus bucks are not only on the table, but they’re a match for the incredible Davis Polk scale. “We are extremely proud of the resilience and adaptability exhibited by so many of our colleagues that resulted in a successful 2020 and first quarter 2021,” writes Gary Wingens, the firm’s chair and managing partner. “Thank you for contributing to that success.” Here’s what the bonus scale looks like at Lowenstein (full memo available on the next page):
| Salary Class | June 30 Bonus | September 30 Bonus |
Total |
| 2020 | $4,500 | $7,500 | $12,000 |
| 2019 | $6,000 | $10,000 | $16,000 |
| 2018 | $12,000 | $20,000 | $32,000 |
| 2017 | $16,500 | $27,500 | $44,000 |
| 2016 | $19,500 | $32,500 | $52,000 |
| 2015 | $22,200 | $37,000 | $59,200 |
| 2014 | $24,000 | $40,000 | $64,000 |
| 2013 | $24,000 | $40,000 | $64,000 |
Bonuses will be paid to those who are on track to reach an annualized minimum of 1800 client billable hours and at least 150 firm directed hours (e.g., pro bono, diversity efforts, recruiting, practice group activities, or additional billable hours) from October 1, 2020 through the applicable measurement dates (April 30, 2021 and July 31, 2021). The firm will offer catch-up payments for anyone who misses the market on April 30, but meets the eligibility threshold at July 31.
The good news doesn’t end there, because as noted by Wingens, these special bonuses are in addition to Lowenstein’s regular year-end bonuses, which are expected to be paid “in at least the same overall magnitude as in 2020.”
Congratulations to everyone at Lowenstein!
(Flip to the next page to see the full memo from Lowenstein Sandler.)
Remember everyone, we depend on your tips to stay on top of important bonus updates, so when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.
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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.
