This Partner Doesn’t Think Summer Bonuses Will Catch On For Biglaw Firms
He said that while his Biglaw firm is monitoring the market, there are no plans to announce summer bonuses at this time.
Ed. note: Welcome to our daily feature, Quote of the Day.
We’re not seeing anything like that [COVID-era bonus incentives] in the current market. It would suggest to me that firms are busy, but not that desperate for talent where they feel they’ll be compelled to pay ‘stay’ bonuses, which is how I’d describe it. My prediction is they will not become ubiquitous in the market.
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— Bill O’Neil, Chicago office managing partner for Winston & Strawn, in comments given to the American Lawyer, on the likelihood that Biglaw firms will fall in line with the summer bonuses announced by boutique firms Hueston Hennigan and McKool Smith. He went on to refer to the boutiques’ bonus announcements as “a bit aberrational at this point.”
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on X/Twitter and Threads or connect with her on LinkedIn.
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