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

Associate Bonus Watch: Sidley Austin (New York only)

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Sorry, we were out drinking (more than we should). That’s why we didn’t immediately post the bonus memo for Sidley Austin (New York).
Now we’re back — and tipsy. Fortunately, posting a bonus memo is not like operating heavy machinery.
The email announcing New York bonuses was forwarded to Sidley associates outside of New York, with this intro:

For your information, please find the message below to New York associates announcing a special bonus being provided in New York. As noted, the special New York bonuses are in addition to year-end bonuses, which will be the subject of a Firm-wide announcement in the coming days and which we expect will generally follow the pattern of prior years. We appreciate and value the work of all our associates.

But the work of non-NYC associates, not so much. Not surprisingly, Sidley associates outside of New York are not happy campers:

“Chicago morale should be wonderful after this…”

“Management committee forwarded the email to all other offices — how considerate.”

“Note that the Management Committee sent the bonus memo to the NY office only, and it took them an hour before they realized they’d better circulate it to all associates (so we don’t learn about it from you first). There’s going to be significant grumbling in DC, Chicago and LA about the yawning chasm between the bonuses we’ll likely get compared to the apparent total bonuses in NY.”

For the curious among you, the full Sidley Austin memo appears after the jump.


SIDLEY AUSTIN LLP — 2007 ASSOCIATE BONUS MEMORANDUM (NEW YORK)
From: The Management Committee
Sent: Tuesday, November 13, 2007 5:42 PM
To: NY – Associates
Cc: +All Firm Partners; NY – Counsel; +All Firm Senior Counsel
Subject: 2007 SPECIAL BONUS
TO: All New York Associates
FROM: The Management Committee
RE: 2007 Special Bonuses
CC: All New York Counsel
Because we continue to place a high value on your contributions, as well as on the contributions of all of our associates, we are pleased to announce that this year New York associates will be eligible for special bonuses on the following scale:
CLASS SPECIAL BONUS
2006 $10,000
2005 $15,000
2004 $20,000
2003 $30,000
2002 $40,000
2001 and more senior $50,000
Special bonuses will be paid, in December, to associates whose performance has met expectations. The amount of the special bonus will be prorated for associates who joined the Firm this year after January 1, or who were during the year on a leave of absence or working on a part-time basis. Compensation of counsel, including eligibility for any special bonus, will continue to be made on an individual basis. The special bonuses described above will be in addition to the year-end bonuses, which will be the subject of a Firm-wide announcement in the coming days and which we expect will generally follow the pattern of prior years.
On behalf of all of the partners, we thank and congratulate you for your contributions to another strong year for all of us.

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