Biglaw, Bonuses, Clerkships, Money, Skaddenfreude

Clerkship Bonus Watch: Latham Joins the $50K/$70K Club (For Real)

Latham Watkins LLP Above the Law blog.JPGTo all of you who have been complaining about the clerkship bonus policy of Latham & Watkins, the firm has heard your pleas. And it has taken action. But if you’re starting at the firm in 2007, you might not reap the benefits of your whining advocacy.
An LW offeree passed along this information to us:

Beginning in 2008, L & W will award on year of partnership progression credit plus $50,000 to clerks at federal court, the highest court in any state and the District of Columbia, and Delaware Chancery Courts. The firm will pay $70,000 to attorneys who clerk for more than one year in eligible clerkships.

We contacted a firm spokesman for confirmation. His comments appear after the jump.
Update: Also after the jump, for those of you who are curious: Latham & Watkins’s Policies, Benefits & Compensation for US-Based Associates.

From a firm spokesperson:

The information you’ve been passed is correct. Latham & Watkins looked at its judicial clerkship bonus structure, and in an effort to try to simplify the structure (you’ll recall it was originally made up of $35,000 and a $13,333 bar study stipend from our last email exchange) Latham will move to a single bonus payment.

Effective 2008, Latham will increase its judicial clerkship bonus to $50,000, up from $35,000, in addition to the one year class progression credit. The firm will no longer pay its $13,333 bar study stipend to judicial clerks. For attorneys who clerk for more than one year in eligible clerkships, Latham will award a $70,000 bonus.

To law clerks starting at Latham in 2008: Congratulations on the good news!
Policies, Benefits & Compensation for US-Based Associates
Latham Watkins 1 General Policies Benefits Above the Law blog.JPG
Latham Watkins 2 General Policies Benefits Above the Law blog.JPG
Earlier: Clerkship Bonus Watch: Latham & Watkins Joins the $48,333 Club

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