The firm remains optimistic about its outlook for 2024, demonstrating a determination to overcome challenges and maintain stability for its employees.

The new salaries, which will take effect on January 1, are expected to be reflected in the last pay period of February. Associates at the firm who bill 2200 hours or more will also be eligible for a generous 120 percent bonus. While the exact timing of the bonus distribution is not specified in the firm's memo, it assures associates that it will be no later than the last pay period in February.

Although the firm faced layoffs and deferrals in 2023, it remains resolute in its commitment to provide its employees with competitive compensation and rewards. The decision to match the pay and bonus scale showcases the firm's unwavering support for its workforce, even in the face of adversity.

This announcement comes as a beacon of hope for associates and staff, who may have been concerned about the potential impact of the setbacks on their salaries and bonuses. By maintaining its commitment to financial stability, the law firm is indirectly reassuring its employees that their dedication and hard work are valued and appreciated.

As news of this development spreads, legal professionals from other firms are encouraged to share their salary memos with Above The Law for the benefit of the wider legal community. Above The Law provides a platform for firms to share their salary updates, ensuring transparency and facilitating informed decision-making for legal professionals.

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Joe Patrice, a senior editor at Above The Law and co-host of "Thinking Like A Lawyer," welcomes tips, questions, and comments from readers. In addition to his role at Above The Law, Joe also serves as a Managing Director at RPN Executive Search, demonstrating his deep involvement and expertise in the legal industry.

Legal professionals interested in receiving updates on salary and bonus increases can sign up for ATL's Bonus & Salary Increase Alerts by entering their email address. Those who have already subscribed to the bonus alerts will automatically receive email notifications within minutes of each bonus announcement published by Above The Law.

Despite facing setbacks in 2023, this law firm's commitment to matching the pay and bonus scale sends a strong message of stability and support to its employees. With its optimistic outlook for 2024, the firm is determined to overcome challenges and ensure the financial well-being of its workforce, solidifying its reputation as a resilient and employee-focused entity within the legal industry.