Houston-based Baker Botts announced Friday morning that it is the latest in a string of corporate law firms to give associates a special bonus ranging from $12,000 to $64,000.
Baker Botts joins Texas law firms Vinson & Elkins, McKool Smith, Akin Gump and Norton Rose Fulbright in providing its non-partner lawyers middle of the year bonuses.
“While the past year has been the most demanding for our firm in recent history, I would like to thank each of you for the agility and resilience that you continue to display,” Baker Botts managing partner John Martin wrote to associates Friday morning. “This unprecedented time continues to bring out the best at every level of our Baker Botts team.”
“Despite the challenges we have encountered during the pandemic – and through the hard work of each of you – we continue to provide the highest level of support to our clients for their most complex matters,” Martin wrote. “In the spirit of your exemplary client service, we are pleased to announce that associates and special counsel in all offices globally will receive special bonuses as follows, payable within 45 days of the end of each measurement period, subject to the productivity and performance requirements.”
The requirements include a minimum number of hours billed by the associates. Other firms set the limit at 1,950 hours. The bonuses will be split – about half paid this spring and half this coming fall.
For a full list of law firms operating in Texas who have announced the extra bonus, please click here.