Big Law Bonus Fiasco: Perkins Coie and Hogan Lovells Retreat Amid Associate Uproar
In a bold move that reverberated through the corridors of high-powered law firms, Perkins Coie and Hogan Lovells initially decided to retract customary special bonuses, a decision met with stark backlash from their overworked associates. Typically ranging from $6,000 to $25,000, these bonuses are not just a financial boon but a marker of appreciation and recognition. The strategic misstep by both firms starkly underscores the climate of fierce competition for top legal talent. As the revelation of the scrapped bonuses spread, facilitated by rapid digital communications, the legal community responded with immediate and sharp criticism, … Read more