Ed. note: Welcome to our daily feature, Quote of the Day.
At the end of the day, everybody just wants to be paid what they consider to be market. And at this point, folding the special bonuses to the holiday bonus is the current market. People who don’t get bonuses when many of their peers do, are going to be out the door.
— Kate Reder Sheikh, a legal recruiter with Major, Lindsey & Africa, in comments given to the American Lawyer, concerning the “surprising handful” of Am Law 50 firms that reportedly haven’t announced special bonuses with their year-end bonuses, which has been “very poorly received” by associates. Why wouldn’t a firm match the special bonuses that are now regarded as part of the market rate? “That’s kind of a million-dollar question, and what associates who are at these firms are asking me,” Sheikh said. “‘Do they not care if I leave? Do they not care if a lot of us leave? Is it actually potentially a goal to get some people out the door without doing layoffs?’ It’s been a point of great curiosity.”
Staci Zaretsky is the managing editor of 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 Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
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