Potentially £16k+ for first year associates
US law firm Fried Frank has joined a number of its competitors in awarding hefty year-end and special bonuses to its junior lawyers, both in the US and the UK.
The firm has aligned its year-end bonus structure with those announced last week by fellow US law firm Milbank, offering amounts ranging from $15,000 (£12,000) to $115,000 (£90,000), depending on post-qualification experience.
Fried Frank associates have even more reason to celebrate, with the firm awarding special bonuses ranging from $6,000 (£4,700) to $25,000 (£20,000). These bonuses are tied to their level of experience and are contingent upon meeting specific hours requirements.
This means a ‘Class of 2024’ associate — essentially a newly qualified lawyer (NQ) — could receive a total bonus of over $21,000 (£16,500) in addition to an already impressive base salary of £173,000.
The memo confirming the payouts, first reported by the US website AboveTheLaw, further reveals that lawyers may be eligible for further “premium” bonus. This reward ranges from $3,000 (£2,300) to $34,500 (£27,300), on top of the year-end bonus.
The Legal Cheek Firms Most List 2025 shows that Fried Frank offers four training contracts in London annually, with a starting salary of £55,000, increasing to £60,000 in the second year.