Associate Bonus Watch: Now These Are Some Sterling Bonuses
Change could be coming to the partnership ranks, but it's business as usual for associate bonuses.
Shearman & Sterling, that is. Today the firm announced that it’s matching the Cravath bonus scale.
These are interesting times for Shearman & Sterling. As we discussed earlier this year, some significant changes could be coming to the partnership ranks.
But when it comes to associates, it’s business as usual at Shearman, meaning a market match. The firm matched the Cravath scale in 2015, and in 2014, it sweetened its original bonuses after Davis Polk one-upped Simpson. So this announcement isn’t a surprise, but it’s still good news. The bonuses will be paid on January 13, 2017.
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(Flip to the next page for the memo from global managing partner David Beveridge.)
Shearman & Sterling Falls In Line With Cravath Bonus [Law360]
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David Lat is the founder and managing editor of Above the Law and the author of Supreme Ambitions: A Novel. He previously worked as a federal prosecutor in Newark, New Jersey; a litigation associate at Wachtell, Lipton, Rosen & Katz; and a law clerk to Judge Diarmuid F. O’Scannlain of the U.S. Court of Appeals for the Ninth Circuit. You can connect with David on Twitter (@DavidLat), LinkedIn, and Facebook, and you can reach him by email at dlat@abovethelaw.com.
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