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Associate Bonus Watch: Cadwalader And Proskauer Ante Up

Happy Monday, everyone! What better way to start a new week than to bring you more bonus news?

As it turns out, Willkie Farr and Shearman & Sterling weren’t the only firms to participate in the Friday afternoon bonus dump. Two more firms broke word of their bonus intentions before the weekend, and now the question on everyone’s minds is whether they bucked the system and beat Cravath.

We’ve got the announcements from Cadwalader and Proskauer Rose for your viewing pleasure. Did either firm have the guts to top Cravath’s market rate?

Of course not. Don’t be silly. The only things here that are different from the Cravath bonuses are the dates the money will hit bank accounts.

Cadwalader will pay out its year-end Cravath bonus match in February, but as we’ve seen from years past, this is CWT’s traditional practice on bonuses.

Instead of copying the Cravath payout date of Friday, December 20, Proskauer will pay its bonuses on December 23. A tipster from the firm says, “No surprises here.” Another source was “hoping against all odds for [Sullivan & Cromwell] or someone else to top Cravath, but it doesn’t appear that will happen.”

To be honest, we’re not surprised about these Cravath matches either, but we’re still crossing our fingers in the hope that we’ll see a pleasant surprise from SullCrom. We haven’t heard a peep from the firm that once brought smiles to associates’ faces with promises of spring bonuses. Come on, S&C, do it again!

Congratulations to everyone at Cadwalader and Proskauer Rose. We hope that you’ll be able to find a way to enjoy all of that sweet, sweet cash when you get your hands on it.

If we missed your firm’s announcement, please email us or text us (646-820-8477). And remember, we always appreciate an actual bonus memo, so send one if you can. Thanks!

(Bonus memos from from Chris White, chairman of Cadwalader, and Joseph M. Leccese, chairman of Proskauer, along with the members of the firm’s Executive Committee, can be found on the next page.)

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