Allen & Overy, Associate Bonus Watch 2008

Associate Bonus Watch: Allen & Overy

law firm associate bonus watch 2008 biglaw bonuses.jpgAllen & Overy, recently named by American Lawyer as the firm with the sixth-highest revenue in the world, just decided to pull a Half-Skadden:

Bonuses will be paid at the end of January.

Class of 2008: $17,500 (pro-rated)
Class of 2007: $17,500
Class of 2006: $20,000
Class of 2005: $22,500
Class of 2004: $25,000
Class of 2003: $27,500
Class of 2002: $30,000
Class of 2001: $32,500

I hear that one good way to keep revenues high is to pay your employees as little as the market will bear.

Good job A&O. Way to keep up appearances. There’s no way we’d deny you time in the spotlight just because you sent out a bonus announcement around the close of business.

Read the full memo after the jump.


ALLEN & OVERY — MEMORANDUM — ASSOCIATE BONUSES

I am pleased to announce that we will be paying year-end bonuses to associates as set out below. Bonuses will be paid to associates in good standing at the time of payment and will be subject to the usual pro-rations for 2008 start dates, part-time schedules and unpaid leaves of absence. Lawyers more senior than the class of 2001 will be contacted separately regarding the amount of their bonus. Bonuses will be paid at the end of January.

Class of 2008: $17,500 (pro-rated)

Class of 2007: $17,500

Class of 2006: $20,000

Class of 2005: $22,500

Class of 2004: $25,000

Class of 2003: $27,500

Class of 2002: $30,000

Class of 2001: $32,500

(and senior)

On behalf of all the partners, I would like to thank you for the contribution you have made to the business over the last year and in particular in supporting our clients in the current economic conditions.

Thank you and best wishes for the holiday season

Earlier: Prior ATL coverage of associate bonuses

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