A downturn in transactional work will likely cause more segmentation in year-end bonus payments following two years of bonus-matching.
November 23, 2022 at 03:36 PM
3 minute read
Reporter
The original version of this story was published on The American Lawyer
When Baker McKenzie kicked off the 2020 bonus season before Thanksgiving that year, North America CEO Colin Murray told U.S. associates via email the firm’s bonus scale would match “any increases in the market should they occur.”
After relinquishing first-mover position to Cravath, Swaine & Moore in 2021, Baker McKenzie again led this year’s bonus season announcements—absent the promise of matching peer firms.
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