Biglaw, Bonuses, Money

Simpson Thacher Announces Bonuses

A former bonus compensation leader weighs in.

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money salary pay raise bills changing hands 100 dollar bills bonusA couple years back, Simpson Thacher made the bold move of stepping on Cravath’s toes and acting first on bonuses. It was an impressive act of chutzpah designed to show that Simpson was the real market leader.

Then Davis Polk beclowned them by releasing even bigger bonuses.

Properly chastened, Simpson Thacher is a follower once again. Partner and Executive Committee Chair William Dougherty alerted the firm of their upcoming bonuses in an email sent at 9 a.m. this morning. The numbers will not surprise you:

Class of 2016 — $15,000 (pro-rated)
Class of 2015 — $15,000
Class of 2014 — $25,000
Class of 2013 — $50,000
Class of 2012 — $65,000
Class of 2011 — $80,000
Class of 2010 — $90,000
Class of 2009 — $100,000
Class of 2008 — $100,000

Bonuses will be paid on December 30, 2016.

Congratulations, y’all. (Full memo on the next page…)

That’s our take on the Simpson bonuses. If you’re a Simpson 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.

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UPDATE (3:05 p.m.): A Simpson associate comes to the firm’s defense: “What’s with all the STB hate? So much shade for a firm that’s been, at worst, the second best for associate comp. Obviously I’m biased, but let’s not forget that (1) half of BigLaw associates are still receiving 2014 STB-scale bonuses (1st, 2nd, and 7th+ yrs), and (2) the still-current 2014 ‘DPW scale’ for 3rd-6th yrs was a relatively small bump over the 2014 STB scale for 3rd-6th yrs. And there was that whole $160K thing.”

Please help us help you when it comes to bonus news at other firms. As soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”) or text us (646-820-8477). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.

And if you’d like to sign up for ATL’s Bonus Alerts, please scroll down and enter your email address in the box below this post. 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.

HeadshotJoe Patrice is an editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news.

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