Associate Bonus Watch: Biglaw Summer Bonuses!

Which firm could possibly be so generous?

The Fourth of July three-day weekend is so close we can feel it, and just ahead of the Independence Day festivities, one Biglaw firm is setting off celebratory fireworks — in its associates’ bank accounts.

Which firm could possibly be so generous?

For at least the sixth year in a row, Cahill Gordon & Reindel is doling out summer bonuses to its associates. Recall that these bonuses are on top of “special” bonuses that are typically paid out in December, as well as the firm’s usual year-end bonuses paid out in January. Cahill’s comp is consistently above market. Keep this in mind for OCI, 2Ls: This firm doesn’t make it rain, it makes it pour.

How big are the Cahill mid-year bonuses this time around? We reached out to the firm for comment, and Cahill confirmed its distribution of mid-year bonuses, in amounts ranging from $5,000 to $15,000, depending on seniority. “We are again paying mid-year bonuses to our associates in recognition of their dedication to the firm’s success,” said Jonathan Schaffzin, a Cahill partner and Executive Committee member.

Despite slipping slightly in the latest Am Law 100 rankings — its profits per partner dropped by 4.4 percent to $3.615 million — Cahill is still willing to share the wealth with its associates. We’re not sure how many other firms would continue to do this, and this speaks volumes as to just how much Cahill values its associates’ hard work. It’s really too bad that more firms aren’t rewarding their talent like this.

Congratulations, Cahill associates, on some of the best bonuses in Biglaw. Celebrate!

Earlier: Associate Bonus Watch: Cahill Gordon Beats The Market Once Again

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