Fried, Frank, Harris, Shriver & Jacobson is the latest Big Law firm to announce its year-end associate bonus scale.
In a memo sent to its associates on Tuesday, the firm announced its bonus scale for associates in London, New York, and Washington, which matches the bonus scale announced first by Milbank last week. Cravath Swaine & Moore announced Nov. 11 it would also match Milbank.
Fried Frank’s associate bonuses will be paid on or before Dec. 31. Associates are eligible to receive a premium of 15% or 30% above the standard bonus amount, which takes into account hours thresholds for billable, pro bono, and qualified non-billable hours like recruitment, mentoring, training, client development and diversity.
The full bonus scale for the associate classes follows:
Class of 2019 – $15,000 (prorated)
Class of 2018 – $15,000
Class of 2017 – $25,000
Class of 2016 – $50,000
Class of 2015 – $65,000
Class of 2014 – $80,000
Class of 2013 – $90,000
Class of 2012 – $100,000
Class of 2011 and above – $100,000
Fried Frank wasn’t the only Wall Street firm to announce its bonuses on Tuesday. Paul, Weiss, Rifkind, Wharton & Garrison sent a memo to its associates announcing it would match the year-end bonus scale, with its bonuses being paid out on Dec. 20.
Clifford Chance also said it would match the scale for its associates based in the U.S., with payouts in January of next year.