Associate Bonus Watch 2012, Biglaw, Bonuses, Money, Partner Issues

Associate Bonus Watch: Cleary Gottlieb and Proskauer Rose Match Cravath


Re: Year-End Bonuses

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

From: Executive Committee

Date: November 29, 2012

We are pleased to announce our year-end associate bonuses for 2012. The bonus amounts for each class are set forth below.

Class of 2012 — $10,000 (pro rated)
Class of 2011 — $10,000
Class of 2010 — $14,000
Class of 2009 — $20,000
Class of 2008 — $27,000
Class of 2007 — $34,000
Class of 2006 — $40,000
Class of 2005 — $50,000
Class of 2004 — $60,000

Bonuses for associates beyond the class of 2004 will be determined on an individual basis. Bonuses will be pro rated for those on reduced schedules or approved leaves and for those who joined after January 1, 2012. Bonuses will be paid on December 28, 2012 to associates employed at the Firm and in good standing on that date who have met the Firm’s performance criteria for associates of their seniority. As we discussed at our last Town Hall ten days ago, these criteria have not changed from last year.

This has been a very successful year for the Firm at all levels. We served our clients with distinction; worked on significant and high-profile matters; welcomed new colleagues of enormous talent; and maintained our momentum across all practice areas and offices. While we are immensely proud of our 137-year history we remain relentlessly focused on our future, which has never been brighter. On behalf of the entire partnership we thank you for your dedicated service to the Firm’s clients, the collegiality you display daily with one another and the partnership, and the vibrant and innovative spirit you bring to the Firm every day.

We wish you the happiest of holiday seasons.

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