Weil Matches Market Bonuses, But When Will They Get Paid?
When will associates see their money?
We have another firm ponying up the bucks to meet the market standard for year-end bonuses. Today, Weil, Gotshal & Manges announced they are going to pay their associates top-of-the-market compensation, which according to a source at the firm was “as expected.” Though another noted it was, “Happy news in any case.”
For those that have missed the market standard for 2016 bonuses, set by Cravath yesterday, it is as follows:
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
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One difference for Weil is when associates will get paid. Cravath, and a few other firms, are making the payment in December, which I’m sure will come in handy for last-minute gift buying. Weil associates will have to wait until January 31, 2017 to see their money. I guess that’s why god invented credit cards.
So, Weil attorneys, how do you feel about the bonuses (or when you’ll actually see the money)? Feel free to sound off 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.
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.
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Kathryn Rubino is an editor at Above the Law. ATL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).
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