Post-Milbank - Excitement Fizzling Out (except for firm-specific associates)

Not quite a yawn. But most salary/bonus watchers are plum tuckered out from waiting for Milbank matches and then analyzing as they finally started to come in. 

So, we greet the news from Abovethelaw about Baker McKenzie move as, well, to be expected. However, there may be joy throughout BakerVille among associates.

There is also a point of differentiation. It will provide premium level bonuses for those who significantly exceed hours. 

Recall too that Paul, Weiss indicated in its numbers announcement that on top of today's goodies it could provide discretionary bonuses in 2024. Already those on professional anonymous networks are asking about those kinds of bonuses from Paul, Weiss. Note that a few years ago Paul, Weiss did an atypical: It provided off-season bonuses to the category of associate it labeled "committed." In my work as a coach, including relationships, that term "committed" comes up a lot. It can cover a lot of territory.

Meanwhile, here is the news for associates at Baker McKenzie:

Salary:

  • Class of 2024 – $225,000
  • Class of 2023 – $225,000
  • Class of 2022 – $235,000
  • Class of 2021 – $260,000
  • Class of 2020 – $310,000
  • Class of 2019 – $365,000
  • Class of 2018 – $390,000
  • Class of 2017 – $420,000
  • Class of 2016+ – $435,000

Bonus:

  • Class of 2022 – $20,000
  • Class of 2021 – $30,000
  • Class of 2020 – $57,500
  • Class of 2019 – $75,000
  • Class of 2018 – $90,000
  • Class of 2017 – $105,000
  • Class of 2016+ – $115,000

Both new salary levels and bonuses will be paid out on February 9th. However the amount of the salary will be retroactive to January 1st. 

Data or the gut for your careers and communications? Both of course. Complimentary consultation with intuitive coach, content-creator, and Tarot reader Jane Genova (text 203-468-8579, janegenova374@gmail.com).


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