Associate Bonus Watch 2011, Biglaw, Bonuses, Money

Associate Bonus Watch: Simpson Thacher and Cleary Matching S&C

The floodgates are open and we are awash in bonus news. Sources are reporting that Simpson Thacher and Cleary Gottlieb are both matching the Sullivan & Cromwell bonus scale. That means a little extra money for those at the very top of the scale. But does it mean spring bonuses?

By  
on

CLEARY GOTTLIEB STEEN & HAMILTON — MEMORANDUM — 2011 YEAR-END BONUSES

On behalf of the partners of the Firm, we are pleased to announce year-end bonuses for associates in good standing on the U.S. salary scale, at the amounts set forth below. To be eligible for a bonus, you must be actively employed at the Firm on the day bonuses are paid. Bonuses will be paid on Friday, December 23, 2011. Bonuses will be pro rated for those on reduced schedules, those on unpaid leaves for part of 2011, and for those who joined the Firm after June 1, 2011.

Class — Bonus
2011/ILs $7,500 (pro rated)
2010 — $7,500
2009 — $10,000
2008 — $15,000
2007 — $20,000
2006 — $25,000
2005 — $30,000
2004 — $37,500
2003 (and senior) — $42,500

We thank you all for your hard work over the past year.

Jeff Karpf
Robin Bergen

For the New York and Washington Associates Committees

Earlier: Prior ATL coverage of bonuses

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