EVERYONE will get a bonus above the market this 12 months at Irell & Manella
Irell & Manella blasts the door of the biglaw market bonus scale. And all employees share the happiness of the company!
The company was already giving out fall bonuses (between $ 7,500 and $ 40,000, depending on the class year). But that’s a move many other biglaw firms have taken this year. However, in May they also issued additional bonuses which are part of a new bonus structure, which the company claims is based in part on profit sharing and was finalized after the company’s 2019 financials were finalized. Now they have announced their year-end bonuses, beating the market for each class year.
Seriously, year-end market bonuses range from $ 15,000 to $ 100,000 depending on the class year. At Irell, it’s $ 25,000 to $ 120,000.
So, um, Cravath who?
The company’s bonus table shows the stunning bonuses employees can earn at the company during the year (see the full announcement on the next page):
Earlier this year, Irell was at some sort of intersection when Biglaw Company announced its intention to avoid transactional operations. However, if the size of these bonuses are any indication, then the realignment concerns have been exaggerated. And yes, the company again intends to pay out additional spring bonuses after the 2020 fiscal year.
Congratulations to the company’s employees for receiving some impressive bonuses.
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Kathryn Rubino is 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 tips, questions, or comments and follow her on Twitter (@ Kathryn1).