News of raises and bonuses has been coming in hot across the Biglaw scene ever since Cravath announced its new compensation scale — and while many associates are out celebrating, others are starting to get antsy playing the waiting game with their firms.
Luckily, associates at this top firm no longer need to wait.
We’ve received word that Sheppard Mullin — a firm that brought in $1,052,812,000 gross revenue in 2022, putting it at No. 48 in the most recent Am Law 100 — will be matching the Cravath compensation grid, meaning these are the salaries associates at the firm will see, as of January 1, 2024:
Sheppard Mullin is also matching the Cravath bonus scale, and just like in years past, the firm is handsomely rewarding associates who went above and beyond the call of duty when it came to their billable hours. This is what year-end bonuses will look like at the firm, to be paid on January 26, 2024:
As you can see, Sheppard Mullin awards base year-end bonuses at the 2000-hour mark, and those who go over on their billing will receive even more bonus bucks. Specifically, associates who record 2200 and 2400 hours will receive 110% and 120% of the market-based bonus.
Congratulations to everyone at Sheppard Mullin!
(Flip to the next page to read the full memo from the firm.)
Remember everyone, we depend on your tips to stay on top of compensation updates, so when your firm announces or matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Bonus/Matches”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.
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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 Twitter and Threads or connect with her on LinkedIn.
