Dechert Bonuses Include Billable Hours Sweetener of Up to $22.5K

At first glance, Dechert’s year-end bonuses for associates appear to mirror the market rate, starting at $17,500 for 2007 associates who bill at least 1,950 hours and topping out at $32,500.

But Dechert has included a billable hours sweetener that could reach $22,500 for top-billing associates. The firm will pay an extra $7,500 to any associate who bills 2,200 hours, and another $7,500 each time the associate achieves additional plateaus of 2,350 and 2,500 hours, according to a memo leaked to Above the Law. The Legal Intelligencer also picked up the story.

The amounts are lower for lower-billing associates, according to the stories. New associates and those who bill 1,750 hours will be paid $5,000. Those who bill 1,900 hours will get $10,000.

Merit bonuses will also be paid, the leaked memo says, and associates will get a raise in 2009.