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

Associate Bonus Watch: Kaye Scholer Announces

associate bonus watch 2007 law firm Above the Law blog.jpgThe firm of Kaye Scholer is the latest to jump on the bonus bandwagon. They’ve just announced year-end and special bonuses. The year-end bonuses are issued in ranges for each class; the special bonuses, to be paid “on a discretionary basis,” appear to be on the standard scale ($10k/$15k/$20k, etc.).
Memo after the jump.

From: Barry Willner
Sent: 11/08/2007 03:16 PM EST
To: All Associates
Cc: All Partners; NY Counsel
Subject: 2007 Bonuses
We are pleased to announce that the Firm will once again be paying bonuses.
It has been another terrific year for the Firm and the partners again
express their appreciation to you for your hard work and dedication to the
Firm and our clients. Consistent with our approach in past years, bonuses
will range from $35,000 to $75,000, including proration for those here
less than a full year. Bonuses will be paid to associates performing up to
the Firm’s expectations on the same hours-based criteria as we used last
year which takes into account billable hours through the end of this year,
including pro bono hours. The range of bonuses is as follows:
Class of 2007– $35,000 (prorated).
Class of 2006 – $35,000 to $45,000.
Class of 2005– $40,000 to $50,000.
Class of 2004– $45,000 to $55,000.
Class of 2003– $50,000 to $60,000.
Class of 2002– $55,000 to $65,000.
Class of 2001 — $60,000 to $70,000.
Class of 2000 — $65,000 to $75,000.
Class of 1999 — $65,000 to $75,000.
In addition to the above year-end bonuses, the Firm is also pleased to
announce that in New York on a discretionary basis we will be paying to
associates a one-time performance based special bonus in the amounts listed
Class of 2007- n/a
Class of 2006 – $10,000
Class of 2005 – $15,000
Class of 2004 – $20,000
Class of 2003 – $30,000
Class of 2002 – $40,000
Class of 2001 – $50,000
Class of 2000 – $50,000
Class of 1999 – $50,000
Other senior associates and counsel will continue to receive bonuses on an
individual basis.

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