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

Associate Bonus Watch: A Post-Holiday Round-Up

onJanuary 2, 2008 at 2:30 PM

Since our last compilation of bonus news, which was issued before the holiday, we’ve received some new announcements. Some of them have been mentioned already in the comments, but have not yet appeared on the main page.
But we have verified them, and they are legit. So, for the record, here they are:
1. Dechert (New York): Memo after the jump. The email to New York associates was forwarded to Philadelphia associates, “[i]n the spirit of working on improving communications across the firm.” (Read: “So you don’t find out about it from one of those darn blogs first.”)
2. Mayer Brown (Chicago, Palo Alto, Washington, DC): Memo after the jump. In a nutshell, the bonuses “will be consistent with the amounts paid for 2006 work. In addition, a further discretionary bonus may be awarded to associates who have made contributions to the Firm significantly beyond expectations.”
3. Morrison & Foerster (New York): Memo after the jump. Market-level year-end and special bonuses “will be paid to all New York associates who progress with their salary class based on their annual evaluation and who are in good standing and employed with the Firm when the bonuses are paid.”

DECHERT — 2007 ASSOCIATE BONUS MEMORANDUM
From: Ciabarra, Laura
Sent: Monday, December 31, 2007 12:07 PM
To: PHL Associates
Cc: Ciabarra, Laura; Barnett, Ben; Peckman, Molly; Ebeling, Douglas; Godshall, Craig
Subject: FW: NY Special Bonus Announcement
Dear all,
Below is an e-mail that went out from Bart this morning to the New York associates, announcing that we are paying special bonuses in New York. In the spirit of working on improving communications across the firm, I am sending this to all of you directly. All other bonuses will be paid in January as in the past, after the PRC can review year-end hours and assess what is happening in the applicable markets for other offices. If you have any questions, please feel free to call me, Ben, Molly or Doug.
Regards,
Laura
Laura G. Ciabarra
Partner
Dechert LLP
______________________________________________
From: Winokur, Barton
Sent: Monday, December 31, 2007 11:18 AM
To: NYC Associates
Cc: NYC Partners
Subject: Special Bonus
Memorandum
DATE December 31, 2007
TO All New York Associates
CC All New York Partners
FROM Barton J. Winokur
We have had another terrific year in 2007 and we want to thank you for your outstanding contributions. We value your hard work, your excellent skills and your dedication to client service.
In recognition of those efforts and consistent with our commitment to provide a competitive compensation package to our associates, I am pleased to announce that we will be paying today the following special bonuses to New York associates in good standing who performed in accordance with the firm’s expectations, including productivity and quality:
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 and more senior — $50,000
We are also paying lesser amounts (generally 50% or 75%) to those who are reasonably close to our expectations. In making determinations on who has met (or come close to) expectations, we have looked at all time entered through the latest practicable date. Once the year is closed, we will look to see if any other adjustments are appropriate. Associates who joined the Firm subsequent to January 1, 2007 or worked part-time were evaluated on a pro-rated basis and will receive pro-rated bonuses.
In addition to these special bonuses, we will pay our normal bonuses in January 2008.
Please feel free to contact our Co-Directors of Associate Development, Molly Peckman or Doug Ebeling, with any questions.
Again, thank you for your efforts and best wishes to you for a happy, healthy and prosperous New Year!
This e-mail is from Dechert LLP, a law firm, and may contain information that is confidential or privileged. If you are not the intended recipient, do not read, copy or distribute the e-mail or any attachments. Instead, please notify the sender and delete the e-mail and any attachments. Thank you.
MAYER BROWN — 2007 ASSOCIATE BONUS MEMORANDUM (CHICAGO, PALO ALTO, WASHINGTON)
M E M O R A N D U M
December 28, 2007
TO: Chicago, Palo Alto and Washington Office Associates
FROM: Cabell Chinnis, Jr., Peter L. Scher and Frederick B. Thomas
RE: 2007 Bonuses
We are pleased to announce that the Firm will again pay bonuses to
associates in our Chicago, Palo Alto and Washington offices who worked
2000 qualifying hours and that bonus amounts paid at 2100, 2200, 2300
and 2400 hour thresholds will be consistent with the amounts paid for
2006 work. In addition, a further discretionary bonus may be awarded
to associates who have made contributions to the Firm significantly
beyond expectations. In general, associates in the Class of 2006
finishing their first full year will be eligible for bonuses starting
at $20,000, with senior associates eligible to receive up to $100,000.
The Firm will make bonus decisions based on individual achievement,
performance, work quality and compliance with Firm policy. Consistent
with our past practices, we anticipate communicating bonus amounts for
2007 work, as well as salary adjustments for 2008 class progression,
to individual associates in February. We plan to incorporate the
bonuses and salary adjustments to reflect class progression in the
March 7th paychecks. As in the past, any salary increase for 2008 will
be retroactive to January 1, 2008.
We are grateful for and pleased to recognize the significant
contributions made by our associates to the professional and financial
success of the Firm, to its reputation as a great place to practice
law and to the personal camaraderie we enjoy. We hope you have a Happy
New Year.
MORRISON & FOERSTER — 2007 ASSOCIATE BONUS MEMORANDUM (NEW YORK)
On behalf of the Firm and the New York partners, I am pleased to announce that we will be paying New York market year-end bonuses for 2007 in the amount described in the chart below.
We also will be distributing additional special bonuses to associates who have made strong contributions to the firm based on client service hours (including billable, pro bono, and legal service hours).
Both bonuses will be paid to New York associates in a manner consistent with the Firm’s compensation and evaluation policies. Bonuses will be based on salary class year, will be pro-rated for start dates, part-time arrangements, and any leaves-of-absence taken during the calendar year, and will be paid to all New York associates who progress with their salary class based on their annual evaluation and who are in good standing and employed with the Firm when the bonuses are paid. Bonuses will continue to be paid at the end of January consistent with the bonus payment schedules in other offices.
We will be determining bonuses for of counsel on a separate basis and will send individual messages on those bonuses in early January.
The amounts of the special and year-end bonuses will be as follows:
Class Year: Amount of year-end bonus / Amount of special bonus
Class of 2007: $35,000 (pro-rated) / n/a
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
Class of 1999 (and prior years): $65,000 / $50,000
You each play an important role in the Firm’s success and we thank you all for your continued commitment to the Firm and its clients.
Earlier: Associate Bonus Watch: A Pre-Holiday Round-Up