Associate Salaries, Biglaw, Bonuses, Money

Associate Bonus Watch: The Paul Weiss Memo

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Consider the Paul Weiss rumor from earlier this afternoon CONFIRMED.
1. We’ve spoken on the phone with Madelaine Miller, communications manager for Paul Weiss. She confirmed that the firm just announced bonuses ranging from $30,000 for the class of 2006 to $65,000 for the most senior classes.
2. We have the Paul Weiss memo, which includes both 2006 bonus and 2007 base salary information. Check it out, after the jump.


PAUL, WEISS, RIFKIND, WHARTON & GARRISON BONUS ANNOUNCEMENT MEMO
December 12, 2006
To: All Associates and Counsel
Subject: A Job Well Done
From: Alfred D. Youngwood
I am pleased to tell you that 2006 was another successful year for the firm. All of our practices and offices achieved impressive results for our clients, helping them attain sophisticated business and financial goals. We also continued our longstanding and inspiring commitment to pro bono work, assisting individual clients and handling matters impacting broader social issues.
Thank you for your contributions to the firm and for your important role in helping accomplish the extraordinary results we achieved for our clients. In recognition of your hard work and dedication, the firm will award 2006 associate bonuses and 2007 salaries as follows:
2006 Bonus
2007 Base Salary
Class of 2006 – $30,000 (pro rated)
Class of 2006 – $145,000
Class of 2005 – $35,000
Class of 2005 – $155,000
Class of 2004 – $40,000
Class of 2004 – $170,000
Class of 2003 – $45,000
Class of 2003 – $190,000
Class of 2002 – $50,000
Class of 2002 – $215,000
Class of 2001 – $55,000
Class of 2001 – $230,000
Class of 2000 – $60,000
Class of 2000 – $240,000
Class of 1999 and beyond – $65,000
Class of 1999 – $255,000
Class of 1998 – $260,000
Class of 1997 and beyond – $265,000
Counsel bonuses will be announced separately.
On behalf of every partner in the firm, I extend my personal thanks to each of you. I look forward to our sharing another wonderful year ahead. My best to you and your family for a happy holiday season.
Earlier: Associate Bonus Watch: Paul Weiss Matches?

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