Biglaw

California Firm Announces New Comp

This is a nice perk.

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We get so wrapped up in the Am Law 50 market we sometimes forget that attorneys are living rich, full careers at regional firms — firms like Allen Matkins out in California. The firm has five offices and over 200 attorneys but stays local so they don’t end up on our East Coast Bias radar all that often.

But the firm just announced its new comp structure including bonuses and a 401k match that should be music to the ears of their crew.

Under the new system, first-years receive a $170K base with bonuses ranging from $5K at 1900 hours, $15K at 1950, $20K at 2000, and $25K at 2050+. This still puts associates slightly behind the pace set by the Am Law elite, but it’s good money and paired with a San Diego beachfront view is more than amazing.

But more awesome is the firm’s 401k matching program. It’s a perk that a lot of corporate America is accustomed to that firms have disturbingly lagged behind on. But as someone who got to take advantage of it at a boutique firm in my career, it’s an incredible feature. Allen Matkins is offering up to 3 percent of the associate’s annual comp as a 401k match. That may not seem like much today, but 5 or 6 thousand bucks today can mean a lot come retirement.

Congrats to the whole Allen Matkins gang.

The whole memo is on the next page.

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HeadshotJoe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news.

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