Associate Bonus Watch 2011, Biglaw, Bonuses, Money

Associate Bonus Watch: Proskauer Matches

Let's keep the bonus news rolling. On Friday, our sources reported that Proskauer Rose matched the Cravath 2011 bonus scale. We now have the official firm memo. Apparently this news is likely to anger many Proskauer associates. Given that fact, we're not exactly sure why the firm was eager to be one of the early adopters of Cravath's bonus scale....

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Re: Year End Bonuses

To: Boston, Chicago, Los Angeles, New York and Washington, D.C. Associates

From: Executive Committee

Date: December 2, 2011

We are pleased to announce our year-end associate bonuses for 2011.

The bonus amounts for each class are set forth below. Bonuses will be pro rated for those on reduced schedules or approved leaves and for those who joined after January 1, 2011 and prior to the end of our October 31 fiscal year. Bonuses will be paid on December 30, 2011 to associates employed at the Firm and in good standing on that date.

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Class of 2010 $ 7,500
Class of 2009 $10,000
Class of 2008 $15,000
Class of 2007 $20,000
Class of 2006 $25,000
Class of 2005 $30,000
Class of 2004 $37,500
and Senior

This has been a year of enormous achievement and momentum for the Firm that included client and pro bono successes too numerous to list; energizing office moves in New York, Beijing, São Paulo and (in a few weeks) Hong Kong; growth in nearly all of our offices; technology upgrades throughout the Firm; and highly successful summer and recruiting programs. On behalf of the entire Partnership we thank you for your contributions to these successes, your enthusiastic embrace of the challenges and changes of the past year and the vibrant spirit you bring to the Firm every day.

We wish you the happiest of Holiday Seasons and hope each of you will have rewarding times with family and friends.

Earlier: Bonus Season Blues

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