With so many top firms already matching Cravath — including several in the Vault’s top ten for prestige, such as Skadden, Davis Polk, and Weil Gotshal — is it less likely that Sullivan & Cromwell will try to beat Cravath, since “peer firms” are already signaling that they’d like to just stick with the CSM scale? Or is it maybe more likely, since it would make S&C look that much better in the eyes of prospective hires to trounce multiple rivals in the compensation department?
The Debevoise memo appears after the jump.
DEBEVOISE & PLIMPTON — MEMORANDUM — 2010 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:
2003 (and senior): $35,000
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, 2010.
We appreciate your work throughout this year. Your contributions are a critical part of building this firm and providing the superior service and commitment that our clients expect. Thank you.
For All Partners
Earlier: Associate Bonus Watch 2010