Law Firm Associate Signing Bonuses Take A Dive, Recruiter Finds Law Firm Bonuses
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Photo Illustration via Justin Sullivan/Getty Images
Average signing bonuses for law firm associates have dropped via $10,000 since 2017 partly because salaries have missing up and women are getting less, according to client data compiled via a judiciary staffing and recruiting company.
The average signing extra this year therefore miles is on $17,000 with the highest paid via a Special Counsel client coming within at $60,000 compared to a record $90,000 last year.
Some 126 attorneys who were Special Counsel clients received bonuses ranging from $3,000-$60,000, according to data provided via the company through Oct. 18.
Those included 84 who received signing bonuses as opposed to smaller relocation or other one-time incentives.
The massive majority of those receiving signing bonuses were law firm associates. The others were in-house attorneys or law firm counsel or partners.
The data also revealed a extra gender gap. Men made up just on top of half, 44, of extra recipients and their payouts were on $12,500, additional than $2,000 higher than the amount for women.
The “largest driver” for drop within average signing bonuses for associates is the increase within their salaries that took result at many firms this summer, said Amanda Ellis, a firm superior fault president.
Another factor, she said, is that an increasing number of firm recruiters are foregoing signing bonuses for mid-year hires via alternatively promising that the attorneys would be present paid end-of-year bonuses at full-year scales.
Special Counsel has placed 617 attorneys therefore miles this year, said Ellis, a firm superior fault president.
Other findings:
- About half of the 126 attorneys who received signing bonuses were hired via the top 200 law firms nationally via revenue.
- Special Counsel looked at placement data from 33 different office locations.
- Thirteen attorneys placed within Washington received signing bonuses, additional than those from other cities.
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