Baker Botts Bonuses Handed Out

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The law firm of Baker Botts has decided to hand out bonuses, according to a tipster:

“So over here at Baker Botts they’re finally sending out bonus memos. And these are bonuses for our work in 2011! Anyway, better late than never…

  

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Everyone gets an individualized memo. Bonuses are based on hours + performance, whatever that means. I think it really just comes down to hours.”

The unidentified source billed more than 2,000 hours in 2011 said that he or she was very happy with the bonus issued and also said that there were others in the firm happy with their bonus amounts as well. Employees at Baker Botts have the ability to earn more money there than at Cravath based on seniority and bonus amount.

An employee in their second year at Baker should be making $180,000 per year if they work in the offices located in New York, D.C. or Palo Alto. This associate is also referred to as a Level 2 associate. The standards scale for New York is for $170,000. Any Level 2 associate working with Baker Botts can then be awarded a bonus no greater than $10,000, which means the associate could possibly make $190,000 in his or her second year. If there are no spring bonuses issued, the New York scale allows for $180,000 total in the second year, which is after a $10,000 bonus.

An associate working with Baker Botts in Texas earns less in his or her second year than those in the other offices. The salary in Texas is worth $170,000, but the cap on the bonus is two times the other bonuses. Should a second-year employee earn a $20,000 bonus, he or she would wind up with a $190,000 salary as well.

Baker Botts does not operate in a lockstep compensation system, which means that associates might not be promoted to the next level in a timely manner. Some associates might find it difficult to get bumped up to another level quickly.