Hogan Lovells has opted not to match associate bonuses this year, leaving many associates outraged despite the firm’s record profits and apparent financial capabilities.
The firm cited existing BD bonuses and discretionary bonuses as justification for not matching market rates, but associates found this reasoning unsatisfactory given their expectations.
Despite branding themselves as a market compensation firm, Hogan Lovells' decision to forgo matching special bonuses has drawn a furious response from associates who feel undervalued.
Leadership previously insisted that this was a record year for profits, leaving associates baffled and disillusioned by the lack of additional financial acknowledgment from the firm.
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