Associate Bonus Watch: Linklaters Matches
With apologies for the delay, here's a bonus announcement made on Friday, by the Magic Circle firm of Linklaters. We don't have the memo, but a confirmed source informs us:
Linklaters matched the New York market bonus for its US qualified associates. Special plus regular bonus, same scale as Cravath.No hours requirement. The bonus will probably be paid in one lump sum in January (memo says all amounts will be paid by January 31).
Those who have been here for a few years weren't really concerned -- Linklaters always matches. But some of the newer associates were nervous because the delay seemed unnecessary. Better late than never I guess.
To quote Bjork -- no, not the wearer of the infamous swan dress, but the former Linklaters associate -- Viva Linklaters!
(30) Comments
Posted In: Associate Bonus Watch 2007, Biglaw, Bonuses, Linklaters, Magic Circle, Money, Skaddenfreude
first...
FRIST!
Does LL have a clerkship bonus?
My friend has billed 1400 hours at Linklaters this year... and got FULL bonus. Linklaters is the best kept secret in NYC!!!
I also hear almost 1/3 of the lawyers in NYC are non-US qualified, including the co-head of the NY office. All foreigners, and they get WAY less bonus. Lots of animosity there. oh well, sucks to be a foreigner?
manolo just breathed a big sigh of relief. nice to hear before con law dos.
the only firms that remain are the major out of town firms. Latham, Gibson Dunn, OMM, Akin ...When are they going to announce???
I summered here and chose to go elsewhere--several of us chose alternate firms. It is great if you want full pay and little work. Lots of opportunities for fourth tier transfers and bottom-of-the-class top schools.
Clerkship bonus? Probably, if a clerk were stupid enough to go there...
I hate Latham. Cheap a-holes.
I need to cop a Linklaters job, I'm tired of doing work.
Linklaters is the best firm in the world! Dominate Europe, Asia and are rapidly dominating NY market. Litigation and Corporate are top-notch practices with well-known partners and associates. Never lose associates or summers to other firms. Free drinks party every friday night. International experience,., more than any firm in NYC. No hours requirement, most people don't bill more than 1800, and no one cares!
I am a tool. Don't forget that when I post the "Hall of Shame" below, as I always do.
11:46--you mean your crystal ball is not functioning?
NYC Bonus List of Shame
2008 Vault Rank
1
2
3
4
5
6
7
8 Latham & Watkins LLP
9
10
*11 Kirkland & Ellis LLP (Punted)
12
13
14
15
16 Williams & Connolly LLP
17
18 Gibson, Dunn & Crutcher LLP
19 O'Melveny & Myers LLP
20
21 Arnold & Porter LLP
22 Jones Day
23 Morrison & Foerster LLP
24
25
*26 Cadwalader, Wickersham & Taft (Punted)
27 Hogan & Hartson LLP
28 Mayer, Brown, Rowe & Maw LLP
29
30 Ropes & Gray LLP
31 Paul, Hastings, Janofsky & Walker
32
33 Akin Gump Strauss Hauer & Feld LLP
34 Winston & Strawn LLP
35
36 Wilson Sonsini Goodrich & Rosati
37
38 Orrick, Herrington & Sutcliffe
39
40
41 King and Spalding
*42 Morgan, Lewis & Bockius (Punted)
43
44 Baker & McKenzie
45 Baker Botts LLP
46 Boies, Schiller & Flexner LLP
47 Munger, Tolles & Olson LLP
48 Dechert LLP
49 Irell & Manella LLP
*50 McDermott, Will & Emery (Punted)
51 Jenner & Block LLP
52
53
54 DLA Piper
55
56 Fish & Richardson P.C. (Failed to Match)
57 Fulbright & Jaworski LLP
58 Pillsbury Winthrop Shaw Pittman LLP
59 Goodwin Procter LLP
60 Cooley Godward LLP
61 Alston & Bird
62 Heller Ehrman
63 Vinson & Elkins
64 Bingham McCutchen
65 Sonnenschein Nath
66 Greenberg Traurig
67
68 Holland & Knight
69 Steptoe & Johnson
70 Foley & Lardner
71 Kirkpatrick & Lockhart
72 Chadbourne & Parke
73 Hunton & Williams
74 Nixon Peabody
75 Thacher Proffitt
76 Bryan Cave
77
78 Perkins Coie
79 Stroock & Stroock & Lavan
80 Patton Boggs
81 Howrey
82 Reed Smith
83 Crowell & Moring
84 McGuireWoods
85
86 Arent Fox
87 Katten Muchin Rosenman
88 Finnegan, Henderson
89
90 Thelen Reid & Priest
91 Baker & Hostetler
92
93 Venable
94 Squire, Sanders & Dempsey
95 Kelley Drye & Warren
96 Dickstein Shapiro
97 Fenwick & West
98 Kilpatrick Stockton
99
100 Manatt, Phelps & Phillips
NR. McKee Nelson (Failed to Match)
NR. Hughes Hubbard (Failed to Match)
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BONUS STATUS BY 2006 RPL
Rank 2006 in revenue
by revenue Revenue per lawyer
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1 Wachtell ABOVE MARKET $2,455,000 2.5%
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2 Sullivan & Cromwell MARKET & ABOVE MARKET FOR SENIOR ASSOC. $1,565,000 1.3%
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3 Wiley Rein $1,520,000 162.1%
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4 Cravath MARKET $1,355,000 5.9%
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5 Davis Polk MARKET $1,200,000 4.8%
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5 Simpson Thacher-MARKET $1,200,000 6.7%
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7 McKee Nelson BELOW MARKET $1,190,000 1.7%
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8 Milbank, Tweed MARKET $1,110,000 10.4%
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9 Skadden MARKET $1,095,000 10.1%
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10 Cahill Gordon MARKET $1,075,000 8.6%
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11 Fragomen, Del Rey $1,070,000 26.6%
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12 Gibson, Dunn $1,050,000 4.0%
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12 Irell & Manella $1,050,000 9.9%
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14 Kirkland & Ellis PUNTED $1,035,000 5.1%
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14 Paul, Weiss MARKET $1,035,000 0.5%
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16 Munger, Tolles $1,025,000 18.5%
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17 Quinn Emanuel $1,020,000 28.3% SLIGHTLY ABOVE MARKET BUT PARTIALLY DEFERRED
-------------------------------------------------------------------------------
18 Shearman & Sterling MARKET $1,010,000 2.0%
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19 Debevoise & Plimpton MARKET $1,005,000 8.6%
-------------------------------------------------------------------------------
20 Cadwalader BONUS ANNOUNCED, NO $ FIGURES $1,000,000 6.4%
-------------------------------------------------------------------------------
21 Boies, Schiller $980,000 3.2%
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21 Weil, Gotshal MARKET $980,000 2.6%
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23 Cleary Gottlieb MARKET $975,000 7.1%
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24 Willkie Farr MARKET $970,000 12.8%
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25 Williams & Connolly $955,000 2.7%
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26 Finnegan, Henderson $945,000 11.2%
-------------------------------------------------------------------------------
27 Townsend and Townsend $940,000 6.2%
-------------------------------------------------------------------------------
28 Fried, Frank $930,000 MARKET 4.5%
-------------------------------------------------------------------------------
29 Schulte Roth MARKET W/ HOURS REQS. & POSSIBILITY OF MORE $925,000 6.9%
-------------------------------------------------------------------------------
30 Latham & Watkins $920,000 5.1%
-------------------------------------------------------------------------------
31 Wilmer Cutler MARKET $890,000 5.3%
-------------------------------------------------------------------------------
32 McDermott Will PUNTED $875,000 12.9%
-------------------------------------------------------------------------------
33 Kaye Scholer MARKET WITH POSSIBILITY OF MORE & PERF. REQS. $865,000 7.5%
-------------------------------------------------------------------------------
34 Arnold & Porter $855,000 4.9%
-------------------------------------------------------------------------------
34 Ropes & Gray $855,000 1.8%
-------------------------------------------------------------------------------
36 Choate, Hall $850,000 10.4%
-------------------------------------------------------------------------------
36 Kramer Levin MARKET W/ PERF. REQS. $850,000 6.3%
-------------------------------------------------------------------------------
38 Heller Ehrman $845,000 5.0%
-------------------------------------------------------------------------------
39 Akin Gump $840,000 7.7%
-------------------------------------------------------------------------------
40 Hughes Hubbard BELOW MARKET $835,000 12.1%
Not listed: Dewey (Market with hours requirement)
Clifford Chance (Market)
White & Case (Market)
Morgan Lewis (Punted)
Covington (Special Bonus - Regular Bonus not yet announced)
Sidley (Special Bonus - Regular Bonus not yet announced)
Freshfields (Market)
Allen & Overy (Market)
Proskauer (Market with hours reqs.)
Fish & Richardson (Failed to Match)
Linklaters (Market)
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Bonus List of Shame
by NY Attorneys (Source: Crains)
1)
2)
3)
4)
5)
6)
7)
8)
9)
10)
11)
12)
13)
14)
15)
16) Wilson Elser
17)
18)
19) Latham & Watkins
20)
21)
22)
23)
24)
25) Greenberg Traurig
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Non-NY Bonus List of Shame:
(firms not matching in all domestic offices)
Firm (Offices that DID match)
1) Dewey & LeBoeuf (NYC, DC, CA)
2) Fried Frank (NYC)
3) White & Case (NYC)
4) Sidley Austin (NYC)
5) Covington & Burling (NYC)
6) Proskauer (NYC, LA, Boston)
7) WilmerHale (NYC)
11:59 = Linklaters marketing.
No associate loves work and their firm that much!
Question for Skadden associates: did they really pull a bait and switch wrt special bonuses?
Former AGAG spotted at White and Case DC...
BOSTON FIRMS, GET ON YOUR HORSES
who in the hell is Linklaters?!
anyone who believes linklaters dominates NY or is going to any time in the next century should be given face cancer and have their face cancer peed on by someone with a super strain staph infection.
Magic Circle firms to comprehensive dental care!
What do you mean about Skadden? Hadn't heard anything.
11:53 - if you actually worked at Linklaters you'd know that they are just as selective as the top NY firms. The four Linklaters attorneys that I interviewed with during a call back two years ago were, respectively (based on web bios), law review at a top 10 school, order of the coif at a top 10 school, a former Posner clerk, and a former SDNY clerk. Not exactly a place full of "fourth tier transfers." Just because they don't feel pressure to bill 2400 hours every year doesn't mean it is not full of smart attorneys.
People posting about low hours are just wrong. Wrong wrong wrong.
No min. hour requirement =/= low billed hours.
When I become President I will put a stop to all associate bonuses and instead give bonuses to the homeless. I plan on imposing a special lawyer tax to pay for the new program I like to call, "Buying Votes from the Homeless".
Oh shut up, the whole lot of you.
Linklaters is better off without 1153 accepting his/her offer - 1153 seems too far too into him/herself to realize that Linklaters is filled with intelligent lawyers who work as hard as any others in NY and are actually cool to be around when you're not working (like when they're on one of their retreats to Spain or France).
Cool people, reasonable hours, top global practice, AND great pay --- your loss, I'd say.
I remember asking a friend of mine from law school who's at Linklaters about the "summer associate dissatisfaction" rumor that started on this site a few months back and his response at the time was roughly "Maybe a couple aren't accepting their offers, but not many. So what - let them go to another NY firm. They'll burn out in two years then try to lateral back. All of the summers I really liked are returning anyway." Just FYI - he's the only third year associate I know in NY who never complains about his job.
Like anywhere else, it all depends on what group you're in. Some are nightmares, some you can leave at 6.
I'm going to Links for summer '08 - it would be great to know thou why out of 34 last year summers only 23 (including two going to clerkships) accepted offers...
I'm going to Links for summer '08 - it would be great to know thou why out of 34 last year summers only 23 (including two going to clerkships) accepted offers...