Big Law’s Extra Bonuses Hard to Come By as Demand, Hours Slide

Big Law’s corporate associates likely will have a harder time qualifying for the extra cash several firms are doling out to top performers this year, thanks to dwindling demand.

An unexpected boom in capital markets and merger and acquisition work over the last two years has now cooled, leaving junior lawyers with less work in 2022.

“Many associates this year had a significant decrease in their billable hours,” said Katherine Loanzon, New York-based managing director of Kinney Recruiting. “There has been a slowdown in work and in many cases it was at no fault of their own.”

Most firms are ...