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

Associate Bonus Watch: Proskauer Shares the Wealth With Boston and L.A.

onNovember 15, 2007 at 9:15 AM

The latest Biglaw bonus announcement to cross our desk is that of Proskauer Rose. The firm is paying year-end and special bonuses, according to the familiar scale, consistent with the firm’s “established merit and hours guidelines.” The non-New Yorkers among you will be pleased to see that the Proskauer bonuses are the same across the New York, Boston, and Los Angeles offices.
Also, congratulations to Proskauer’s eleven new partners (and four senior counsel), whose promotions were recently announced. A special shout-out to Jon Oram, our law school classmate, and a leading young sports lawyer. Jon’s clients include the NBA, the NHL, Major League Soccer, the Philadelphia Eagles, and the New Jersey Devils. Congrats, Jon!
P.S. For the record, Jon was not our source for the Proskauer bonus memo — which we’ve posted for your reading pleasure, after the jump.

PROSKAUER ROSE LLP — MEMORANDUM — 2007 ASSOCIATE BONUS ANNOUNCEMENT
Re: Bonus Announcement
To: Boston, Los Angeles and New York Associates
cc: Partners, Senior Counsel
From: Executive Committee
Date: November 14, 2007
The Executive Committee is pleased to announce year-end benchmark and special bonuses to eligible associates as set forth below.
Benchmark Bonus Special Bonus
Class of 2007 $35,000 pro rated $0
Class of 2006 $35,000 $10,000
Class of 2005 $40,000 $15,000
Class of 2004 $45,000 $20,000
Class of 2003 $50,000 $30,000
Class of 2002 $55,000 $40,000
Class of 2001 $60,000 $50,000
Class of 2000 $65,000 $50,000
As we announced at the last Town Hall meeting, we will pay year-end bonuses based on the established merit and hours guidelines. This year, we will also pay a special bonus, consistent with those guidelines. Both bonuses will be paid in December to active associates in good standing.
Bonuses for senior counsel and associates beyond the Class of 2000 will be determined and communicated on an individual basis.
We thank you for your professionalism, hard work and commitment to providing the highest quality legal service to our clients, all of which have led to another successful year.
Proskauer Rose Announces 15 New Partners and Senior Counsel [Proskauer Rose LLP]