Associate Bonus Watch: Schulte Roth & Zabel Announces Half-Skadden Bonus (But Will Still Pay Additional Money To High Billers)

More bonus news today, this time from Schulte Roth & Zabel. The numbers are not surprising:

Class Year: Bonus

2008: $17,500 (pro rated)
2007: $17,500
2006: $20,000
2005: $22,500
2004: $25,000
2003: $27,500
2002: $30,000
2001: $32,500
2000: $32,500
1999: $32,500

Schulte has an hours target, but it also claims Cerberus as a major client. Cerberus owns Chrysler… so there has probably been at least a little legal work flying around SRZ.

Schulte has historically given extra bonuses to associates who go above and beyond the call of reason duty. That will not change this year. The firm announced an extra $10K for associates who hit 2300 hours, and an extra $20K for associates who hit 2500 hours. Associates who hit 3,000 hours get $20K (and their own “special” padded room).

In this market, every little bit helps. Good job by Schulte to at least keep paying their high billers a decent bonus.

Read the full memo after the jump.


SCHULTE ROTH & ZABEL — MEMORANDUM — ASSOCIATE BONUSES

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Earlier: Prior ATL coverage of associate bonuses

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