stack of bills cash money.jpgThis doesn’t really matter much (except, of course, to the people receiving the dough). But for those of you keeping score at home, Dewey Ballantine has just announced bonuses. Surprise surprise, they’re matching market.
Well, almost matching market. The stub bonus for Class of 2006 folks was a flat $5,000.
Other notable items from the memo: (1) a requirement of 1900 hours to receive the bonus, and (2) a vague statement concerning Dewey’s possible, but now delayed, merger with Orrick:

[M}any of you have questions regarding the 2007 bonus structure and how it will be impacted should we complete a merger with Orrick, Herrington, & Sutcliffe LLP. We have not yet reached a final determination regarding the 2007 structure, but please be assured that our objective will always be to remain competitive in the legal market place and reward our attorneys for their hard work and contributions.

Assuming that a merger with the Orrick firm does occur, we will communicate the combined firm’s associate compensation structure as soon as possible. If the merger does not occur, attorneys will be notified of the Dewey Ballantine FY 2007 hours threshold promptly.

The full Dewey Ballantine memo, after the jump.


DEWEY BALLANTINE BONUS ANNOUNCEMENT MEMO
MEMORANDUM
TO: All U.S. and U.K. Counsel and Associates
FROM: The Management Committee
RE: 2006 Fiscal Year Associate and Counsel Bonus Announcement
We are pleased to announce our fiscal-year end bonus program for 2006.
As communicated earlier this year, all associates in good standing whose combined client billable and accountable hours during fiscal year 2006 were 1900 or higher will be eligible to receive a bonus.
The Firm will award supplemental bonuses in addition to the class bonus to a small number of associates whose performance during the year was truly exceptional, both in terms of the quality and quantity of their work. These associates will be notified directly.
Bonuses for counsel have been determined on an individual basis and will be communicated to those individuals shortly. Eligible attorneys receiving a bonus who joined the Firm after October 1, 2005, work an alternative work schedule or were on an unpaid leave of absence during the fiscal year, will receive a pro-rated amount commensurate with their specific situations.
Bonuses will be paid on December 29, 2006. Bonus eligible associates must be an employee of the Firm on the day the bonus is paid in order to receive the bonus.
We recognize that many of you have questions regarding the 2007 bonus structure and how it will be impacted should we complete a merger with Orrick, Herrington, & Sutcliffe LLP. We have not yet reached a final determination regarding the 2007 structure, but please be assured that our objective will always be to remain competitive in the legal market place and reward our attorneys for their hard work and contributions. Assuming that a merger with the Orrick firm does occur, we will communicate the combined firm’s associate compensation structure as soon as possible. If the merger does not occur, attorneys will be notified of the Dewey Ballantine FY 2007 hours threshold promptly.
On behalf of the Firm, we would like to thank all counsel and associates for your dedication and commitment to serving our clients.
We wish you and your family a happy and healthy holiday season.
The FY 2006 associate bonus structure is as follows:
Class of 1999 and more senior: $65,000
Class of 2000: $60,000
Class of 2001: $55,000
Class of 2002: $50,000
Class of 2003: $45,000
Class of 2004: $40,000
Class of 2005: $35,000
2006 Fall Associate Class: $5,000
Earlier: Prior ATL coverage of bonuses (scroll down)


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