That’s what we’re hearing, from sources within the firm.
This isn’t terribly surprising, since Cleary Gottlieb — despite being an A-list firm — tends to be a follower, not a leader, on associate compensation. Unless you’re talking about Italy.
If you have a Cleary bonus memo or table, please send it our way. Thanks.
Update (10:02 AM): That was fast; thanks. The Cleary Gottlieb bonus memo, after the jump.
CLEARY, GOTTLIEB, STEEN & HAMILTON BONUS ANNOUNCEMENT MEMO
December 18, 2006
MEMORANDUM FOR ALL U.S.-BASED ASSOCIATES
Re: Year-end Bonuses
On behalf of the partners of the Firm, we are pleased to announce year-end bonuses for associates on the U.S. compensation scale, at the levels set forth below.
Bonuses will be paid on Thursday, December 28, 2006 to those on the payroll on that date, and will be prorated for those who joined the Firm after January 1, 2006. Bonuses are also being announced for non-U.S. compensation scale associates in other offices.
The bonus scale is as follows:
2006 and participants in the International Lawyer Program: $30,000
1999 and more senior: $65,000
Thank you for your hard work and dedication, and best wishes to you and your families for a healthy and happy holiday season.
Cleary Gottlieb tops pay league for junior lawyers in Italian market [Legal Week]
Earlier: Prior ATL coverage of bonuses (scroll down)