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

Associate Bonus Watch: Skadden Matches (We Think)(And Not Just In New York)

onNovember 6, 2007 at 2:18 PM

Skadden associates were notified of their bonuses by emails to individual classes, so we have no global memo confirming the numbers up and down the ladder.
But we have confirmation of the year-end and special bonus matches for the classes of 2007, 2005, and 2004.
Developing… Check back for updates.
Several updates, after the jump.

Update #1: A few more details: (1) the special bonuses will be paid on November 21, the year-end bonuses in mid-December; (2) the bonuses extend to SASMF offices outside New York (e.g., Washington, DC).
Update #2: Here’s the email text for the Skadden bonus announcements:
TO: All Associates Class of ____
In recognition of the contribution associates have made to the extraordinary success of the Firm this year, we will be paying a supplemental discretionary bonus in addition to our year-end discretionary bonus.
For most associates in the class of ____ the supplemental bonus will be $_____; and the year-end bonus will be $_____. Bonuses will be paid to associates in good standing who have been reasonably busy over the course of the year.* The supplemental discretionary bonus will be paid on November 21st and the year-end discretionary bonus will be paid in mid December.
We are grateful for the contribution each of you has made. We remain committed to excellence and extraordinary service to our clients, and recognize the role that our associates have played in our ability to meet this commitment.
SASM&F
*Prorated for those who joined us after January 1, 2007.
Update #3: For classes, we’ve received confirmation of Skadden matching for 2007, 2005, 2004, 2001, and 1999. For office locations, we’ve received confirmation of the bonus scale applying to Chicago and Washington, DC.
Update #4: Pretty clear that this was a match across all classes and all offices. We’ve now received specific confirmation for the classes of 2006, 2005, 2004, 2003, 2001, and 1999, and for Skadden offices in Chicago, Los Angeles, Washington, and Wilmington.
Update #5: For super-senior associates, the bonuses went even higher: “For most associates in the class of 1997 & senior the supplemental bonus will be $50,000; and the year-end bonus will be $75,000.”