If it seems like bonus announcements just won’t quit, that’s because there are a lot of Biglaw firms (and an increasing number of high-powered boutiques) that are eager to show their associates how much they are appreciated. And if in that process that can also prove that they can compete for the top legal talent during one of the busiest lateral markets on record, well, so much the better.
The latest firm to bring joy by announcing associate bonuses is Covington — a firm that took in $1,321,296,000 in gross revenue last year.
The good news for associates is that, yes, the firm will be matching both the year-end AND special bonuses that are making the rounds in Biglaw. Sure, that may not seem like a flex for a top 25 law firm, but Covington has, in the past, made some missteps on that front. After correcting course, it is nice to see them match all the money going to associates at competitor firms without much fuss.
The bonus scale at the firm is as follows:
You can read the full memo on the next page.
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.
And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks for all of your help!
Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).