Associate Bonus Watch 2009, Bonuses, Money

Associate Bonus Watch: Debevoise Matches

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Is announcing associate bonuses on the Wednesday before Thanksgiving a trend in the making? Will we get a few more announcements this afternoon, to match those by Davis Polk and now Debevoise & Plimpton?
Debevoise has had a relatively busy year, from what we understand. But is there life after Siemens? Being conservative with bonuses may be a wise move, unless the firm has lined up another mega-matter to ride out the storm.
So Debevoise has decided to match the Cravath-level bonuses. The full Debevoise memo appears after jump.


DEBEVOISE & PLIMPTON — MEMORANDUM — ASSOCIATE BONUSES
We are pleased to announce that U.S.-based associates in good standing will receive bonuses this year at the following class levels:
2008: $7,500
2007: $10,000
2006: $15,000
2005: $20,000
2004: $25,000
2003 (and senior): $30,000
The bonuses, which will be subject to the usual pro-rations for part-time programs and lengths of service of less than the entire year, will be paid at year-end. To be eligible, an associate must have been employed at the firm prior to September 1, 2009.
We appreciate your work throughout this year on projects of great importance to our clients. The current economic environment will continue to challenge many of the firm’s clients and will require the superior service and commitment that our clients expect. Your contributions are a critical part of providing that service. Thank you.
Rick Evans
For All Partners

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