If any firm understands the importance of being a team player, it’s sports law powerhouse Proskauer. That’s why it’s unsurprising that the firm joined the rest of the teams in the Biglaw league and informed its associates that it will dole out bonuses on the same scale as Simpson Thacher. Quoth a tipster:
The chair of the firm held a town hall meeting with associates yesterday and promised to match market. looks like it will be a green christmas for us!
Bonuses will be paid on December 22 to all associates in good standing.
Skills That Set Firms Apart
Legal expertise alone isn’t enough. Today’s most successful firms invest in developing the skills that drive collaboration, leadership, and business growth. Our on-demand, customizable training modules deliver practical, high-impact learning for attorneys and staff—when and where they need it.
Proskauer’s decision not to rock the boat is certainly not a surprise. Proskauer is traditionally a bonus follower rather than a leader. But the story isn’t so much whether or not Proskauer matched than the growing momentum behind the Simpson scale. When Simpson shocked the market and first released its bonus scale last week, we wondered if Cravath would rain on the associate parade and force the rest of the market lower. With Cravath on board and more and more firms signing up every day, the new question is whether anyone out there will play the wildcard and top Simpson?
The best bet was probably Cravath and they let us down. The market doesn’t bother to follow Wachtell and its (generally) 100 percent bonuses or Dovel & Luner’s hefty boutique bonuses. Perhaps the best we can hope for is another firm following Skadden’s lead and offering selectively higher bonuses for top senior performers. It’s not much, but we can hope for something.
Again, if your firm announces, please email [email protected] or text us (646-820-8477). And remember to send the actual bonus memo if you can. We appreciate getting the tip and we love to hear your reaction to the announcement, too. We’ll keep you anonymous so don’t worry. Thanks!
Proskauer’s announcement memo is available on the next page….