Associate compensation is once again a hot topic in Biglaw. Special bonuses have made their way through the elite of Biglaw, and we are just waiting to see how much of the rest of the pack will match. One firm that isn’t handing out special bonuses is McGuireWoods — but they did manage to make (at least some) associates happy.
According to emails (available in full on the next page) send by firm management, they’re moving to a single compensation grid for associates in all offices. This means that associates in smaller markets are getting a raise, everyone else, not so much.
As a tipster at the firm notes:
McGuireWoods is not doing special bonuses for 2021. Instead they are moving to full lockstep, “single salary scale for all associates across all US offices.” Great day for associates in small market cities…not exactly anything new for the rest of the associates…
The firm’s new scale is as follows:
Also of note, the firm is increasing their productivity bonus pool. Associates billing 2050 are eligible for up to twice as big of a bonus, and the amounts are increasing for all productivity categories.
Please help us help you when it comes to bonus or raise news at other firms. As soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Raises”) or text us (646-820-8477). 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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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. 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).