Biglaw Associates Billing Aggressively, Anticipating Higher Bonuses in 2024.

Associates at large law firms are billing more hours than usual, hoping for increased year-end bonuses and potential special bonuses in 2024. A survey of over 500 associates reveals that 57% expect higher bonuses compared to 2023, with 62% anticipating some form of special bonus. Many associates predict bonus announcements will occur in mid-November or later, with the week before Thanksgiving being the most popular guess.

Billing expectations remain high, with 24% of associates on track to bill between 2000 and 2099 hours this year, and 47% expecting to bill even more. Some firms are offering incentives for high billers, including above-market bonuses and other perks like reduced work schedules or origination credit.

Associates are eagerly awaiting bonus announcements, hoping that firms will match or exceed the special summer bonuses offered by Milbank earlier in the year. The legal industry is closely watching to see which firm will be the first to announce bonuses and set the market standard for 2024.

Report by Above the Law