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

Associate Bonus Watch: McDermott Will & Emery to Pay Supplemental Bonuses

associate bonus watch 2007 law firm Above the Law blog.jpgAs we mentioned last week, McDermott Will & Emery was planning to hold a meeting with associates today about compensation matters. The meeting is over; here’s a brief report:

The MWE associate compensation committee had a videoconference with all associates this morning, where they ate crow about their bonus structure for 2007. They basically said, “we missed the market, we’re sorry, and we’re fixing it.”

They are meeting on January 23rd to set the rate for supplemental bonuses, which will be announced at the end of this month. Apparently the risk of losing all their top billers and having it smeared all over ATL was more than our delicate leadership could handle.

So no numbers yet; expect them near the end of this month. We’ll keep you posted.

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