Lawyers Get $164K Bonuses to Keep Working 100 Hours a Week
“In September 2020, Cooley LLP, a Palo Alto-based law firm, announced it was handing out $2,500 to $7,500 in one-time payments to associates. The bonuses came as the firm — along with many others in the legal industry — realized it was both flush with cash and facing worker burnout during the pandemic,” report Meghan Tribe in Bloomberg Law’s Business & Practice.
“While most attorneys at larger firms expect to receive one annual bonus, Cooley’s move was quickly matched by others, including Davis Polk & Wardwell LLP and Willkie Farr & Gallagher LLP. One payout was becoming two and now potentially three in a single year.”