Springtime for Hitler? No, silly — Springtime for Associate Bonuses! And just like the (in)famous “show within a show” from The Producers, this production is a huge hit.
This afternoon, Cleary Gottlieb announced spring bonuses on the Sullivan & Cromwell scale. They’re payable on April 29, just like those of Simpson Thacher.
What else is there to say?
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Not much. At this point, Cravath, Skadden and Davis will surely have to match, right? And Weil and Debevoise too. Who will be the next to move?
Right now associates all over New York are — or should be — thanking Sullivan & Cromwell for their good fortune. And perhaps partners at rival firms are cursing S&C’s name.
It seems that this partner won’t get away as cheaply as he thought.
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Earlier: Springtime Bonus Watch 2011