The Good Times Roll At This Firm

If you’re getting versed in my pun game, you know that music you hear is Goodwin Procter coming in off the top rope. The Boston-based mainstay is upping bonuses to match the accepted DPW standard… with a bit of a happy twist!

First, the usual boilerplate: Goodwin clocked in at No. 23 in the Am Law 100 this year after generating $1,486,263,000 in revenue, amounting to $2,883,000 in profits per equity partner. So no one expected this firm to be anywhere but at the top of the compensation game.

Which, as a refresher, is this:

Sponsored PD Appreciation Month: DEI Takes Center Stage With law firms and other organizations increasingly focused on Diversity, Equity, and Inclusion (DEI), PLI has developed a series of timely, relevant programs for the… From Practising Law Institute Class Base Bonus Special Bonus Class of 2021 $15,000 N/A Class of 2020 $20,000 $4,000 Class of 2019 $30,000 $6,000 Class of 2018 $57,500 $11,500 Class of 2017 $75,000 $15,000 Class of 2016 $90,000 $18,000 Class of 2015 $105,000 $21,000 Class of 2014+ $115,000 $23,000

With the 2021 cash pro-rated, of course.

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The interesting twist is in the phenomenon of “extra” cash for associates who exceeded 1950 hours or earned a “Distinctive” rating (not to be cynical, but we’re reading that as “in practice groups likely to be poached”). A lot of firms have teased this sort of additional bonus pool, but Goodwin offers a little transparency in announcing that associates can secure “a maximum of 175% of the new scale amount.” Nice!

Congrats, Goodwin folks.

Sponsored Now Hiring! Sherman & Howard is seeking associates in Denver. From Sherman & Howard

Memo reproduced on the next page…

*** Wondering if the grass is greener on the in-house side? Click here for a look inside the black box of corporate counsel pay in our 2021 In-House Compensation Report. ***

Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.

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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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Associate Bonus Watch 2021, Biglaw, Bonuses, Goodwin Procter, Money