Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude

Associate Bonus Watch: Debevoise & Plimpton!!!

onOctober 31, 2007 at 2:43 PM

We’ve been having technical difficulties, perhaps due to heavy site traffic. We are going to lunch.
But before we leave, here’s the bonus announcement of Debevoise & Plimpton. Its authenticity has been confirmed by multiple sources.
In a nutshell, the firm has adopted Cravath’s bifurcated bonus model, with year-end and “special” bonuses. The numbers are the same as Cravath’s, except for the most senior associates, who get $5K more at Debevoise.
You can check out the D&P memo after the jump.
Update: The WSJ Law Blog had the news first. See here.

DEBEVOISE & PLIMPTON LLP — 2007 ASSOCIATE BONUS MEMO
From: “Evans, Martin Frederic”
Date: October 31, 2007 2:21:59 PM EDT
To: “Associates–Domestic”
Cc: “Partners–All”
Subject: 2007 Bonus Announcement
We are pleased to announce for U.S.-based associates both year-end bonuses and special bonuses for 2007. Bonuses will be paid to associates in good standing and will be subject to the usual pro-rations for part-time programs and lengths of service of less than the entire year. The special bonuses will be paid November 20 and the year-end bonuses will be paid in December. The bonus amounts for 2007 are as follows:
Class of 2007: Year-end bonus of $35,000 (pro-rated); no special bonus
Class of 2006: Year-end bonus of $35,000; special bonus of $10,000
Class of 2005: Year-end bonus of $40,000; special bonus of $15,000
Class of 2004: Year-end bonus of $45,000, special bonus of $20,000
Class of 2003: Year-end bonus of $50,000; special bonus of $30,000
Class of 2002: Year-end bonus of $55,000; special bonus of $40,000
Class of 2001: Year-end bonus of $60,000; special bonus of $50,000
Class of 2000 (and prior years): Year-end bonus of $65,000; special bonus of $50,000
This year has seen some of the largest, most complex and demanding projects our firm has ever undertaken, and your efforts have been instrumental to the delivery of superior service and advice to our clients throughout the year and to the success of the firm. We know that work loads continue at high levels for very many of you, and you have our sincere thanks and appreciation.
Rick Evans
For All Partners
Breaking: Debevoise Announces Year-End Bonuses [WSJ Law Blog]
Earlier: Associate Bonus Watch 2007 archives (scroll down)