Jones Day promotes 36 to partnership; offers no bonuses
Jones Day has bucked the trend followed by every other large firm in the country with the decision not to award end of year bonuses to associates.
"We don't do bonuses," says Jones Day partner Joe Sims. "We did away with that several years ago." The firm takes this position on the basis that bonuses are an incentive to bill more hours irrespective of the needs of individual clients. According to the firm, associates are compensated based on their overall contribution in a merit-based system.
And while the lack of transparency of this system may be troubling for some, associates may take some comfort in the fact that Jones Day is still making partners. The firm promoted 36 associates to the partnership in their annual promotions round - the same number of partners as were made up last year.
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