Baker McKenzie is * lastly * providing particular bonuses to workers
On November 11th, Baker McKenzie shocked the biglaw world with the very first bonus announcement of the year. Two weeks later, Cravath took over the same bonus scale and added special bonuses at the top, and the rest of Biglaw rushed to meet the new market standard.
The company’s employees were disappointed that there weren’t any special bonuses, but when they made their initial bonus announcement, the company said it would keep up with any market gains. On New Year’s Eve, Baker McKenzie’s management finally made that promise and announced that it would match the special bonuses that have been in circulation for months. These bonuses are made available to employees who have a minimum of 1,900 Qualifying Billable Hours (including 125 approved pro bono and diversity and inclusion hours). Check out the special bonus scale below:
On top of this great news, the company will be making full salary recovery payments to all employees affected by the COVID-related spending cuts the company initiated on May 1st. All bonus and salary markup bonuses will be made on January 29th Happy New Year Baker McKenzie employee!
(Turn to the next page to read the full Baker McKenzie memo.)
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Staci Zaretsky is Senior Editor at Above the Law, where she has been working since 2011. She would love to hear from you. Please send her an email with tips, questions, comments or criticism. You can follow her on Twitter or connect with her on LinkedIn.