Am Law 100 Firm Offers ZERO Year-End Bonus ‘Without Any Acknowledgement’

// At the end of 2022, Cozen O’Connor left its attorneys fuming when it issued “special” bonuses far below the market standard. At the time, we wrote that “at least they’re getting bonuses at all….” That proved darkly prophetic as 2023 came to a close and associates have realized there aren’t going to be bonuses at all.

The AmLaw100 firm Cozen O’Connor gave no year-end bonuses this year. This is shocking given the consistent year-end bonuses, and even special bonuses, over the past few years. There is major dissension among the associates right now. Is the firm in trouble?

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The frustration isn’t limited to bonuses, as the perennially below-market firm sent around an email about salaries that left attorneys flat:

After a thorough review and analysis, we are pleased to announce that starting salaries for the 2024 class will be increased by between $10,000 and $15,000. Nothing will change in our compensation process for existing attorneys.

In other words, the firm is making an adjustment to protect its law school recruiting but doing nothing for attorneys already on staff. And, for some unknown reason, sent this to the attorneys who aren’t the class of 2024. Everyone else has to wait to see if they get any adjustment to match their peers at other firms.

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We will reflect our new compensation structure in compensation adjustments made during the normal compensation process in Feb/March 2024 (retroactive to January 1, 2014).

Presumably January 1, 2024.

But back to bonuses. Last cycle, the firm explained that, despite a profitable 2022, they had to pinch pennies over fears that 2023 would present economic headwinds. Fast forward, and Cozen leadership has consistently boasted a strong 2023 to its team. Yet not only has there been no talk of making lawyers whole based on last year’s cuts, there aren’t any bonuses this year.

And associates report receiving no warning that they’d be going into the holidays empty-handed.

Cozen O’Connor has lapsed into a real life National Lampoon’s Christmas Vacation. Every year, without fail, firm offered a bonus at the end of the year that was not merit based but universally offered. Above the Law covered it last year. Without any acknowledgement, the firm has not given the bonus this year. Attorneys have been left in the dark completely. Many were of course relying on it. This has enraged countless attorneys. 

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Reportedly, counsel are also not getting bonuses, but at least they were warned that this was coming.

Law firm “bonuses” aren’t so much “bonuses” as a “variable salary tier.” No one knows at the beginning of the year exactly how much the bonus gods (read: Cravath) will bestow upon the market, but, like Clark Griswold, associates still count on it as part of their salary. To yank it without warning just… well…

Clark: I was expecting a check. Instead I got enrolled in a jelly club. 17 years with the company. I’ve gotten a Christmas bonus every year but this one. You don’t want to give bonuses, fine. But when people count on them as their salary, well what you did just plain…

Rusty Griswold: Sucks.

Comp memo on the next page.

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Earlier: Biglaw Firm Announces Special Bonuses, But Associates Don’t Seem Too Thrilled

Joe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.

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2023 Associate Salary Increase, Associate Bonus Watch 2023, Biglaw, Bonus News Alerts, Bonuses, Cozen O'Connor, Money