Associate Bonus Watch: The First Magic Circle Firm Speaks
The very first Magic Circle firm has cast a spell to summon tens of thousands of dollars into the bank accounts of its deserving associates.
Accio bonus bucks! With a wave of its wand, the very first Magic Circle firm has cast a spell to summon tens of thousands of dollars into the bank accounts of its deserving associates. Congratulations!
Yesterday, in a memorandum emailed from U.S. managing partner David Krischer, Allen & Overy announced that it would be matching the Cravath bonus scale for all of its U.S. associates (and it looks like associates in São Paulo, Brazil, will see some extra cash too). Bonus payouts to associates will be made by January 13, 2017. The full memo is available on the next page.
A&O being the first Magic Circle firm to match this year’s market bonuses speaks volumes. When will the rest of its cohorts with U.S. offices — Clifford Chance, Freshfields, and Linklaters — conjure up cash for their associates?
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
That’s our take on the Allen & Overy bonuses. If you’re an A&O lawyer, what do you think? Feel free to let us know how you feel by email, by text message (646-820-8477), or by tweet (@ATLblog). A fun or insightful response — we’ll keep you anonymous — could find its way into an update to this story.
As a little reminder, we love covering the Biglaw bonus season, but we need your help. As soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”). We always keep our sources on bonus stories anonymous. There’s no need to send the memo using your firm email account; your personal email account is fine. Please be sure to include the memo as proof; we like to post complete bonus memos as a service to our readers. You can take a photo of the memo and attach as a picture if you are worried about metadata in a PDF or Word file. Thanks for your help.
Don’t forget, if you’d like to sign up for ATL’s Bonus Alerts, please enter your email address in the box below. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Cheers to a happy bonus season, everyone!
Sponsored
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
The Business Case For AI At Your Law Firm
Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
Legal AI: 3 Steps Law Firms Should Take Now
Staci Zaretsky is an editor at Above the Law. She’d love to hear from you, so feel free to email her with any tips, questions, or comments. You can follow her on Twitter or connect with her on LinkedIn.
Sponsored
Legal AI: 3 Steps Law Firms Should Take Now
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
