A few bonus announcements trickled in over the holidays. Here’s a round-up of recent bonus announcements that have not yet been covered in these pages. If you have new news, e-mail us at firstname.lastname@example.org.
1. Sheppard Mullin (New York): Sheppard Mullin is paying above market rate for attorneys who racked up the hours this year. Baseline hours are 2000 in New York (and 2100 outside of New York, see below). Bonuses range from $20,000 to $70,000, plus discretionary bonuses of $20,000 to $50,000. Reaction at the firm, after the jump.
2. Sheppard Mullin (outside New York): Associates in California and D.C. had to rack up a few more hours than their NY brethren to qualify for bonuses, with 2,100 as their baseline. And their lockstep bonuses for additional hours are not as generous. Details after the jump.
3. Akin Gump (outside New York): We posted on the New York market/ half-Skadden bonuses for Akin New York associates, announced on New Year’s Eve. Associates outside of New York received an e-mail saying that “merit bonuses” will be given based on “productivity, quality of work and Firm citizenship.” Check out the e-mail, and news of a freeze watch there, after the jump.
4. Linklaters (all U.S. offices): This Magic Circle firm announced bonuses and salary increases for U.S. associates right before Christmas. The London-based firm is following Cravath’s lead, paying half-Skadden bonuses to all U.S. associates, with no hours requirement. The firm will have normal class-year raises. Per our tipster, “the firm had a good first half, including in NY, so a Latham-style salary freeze would have been pretty shocking.”
5. Arnold & Porter (New York): Associates outside of New York got individualized bonus memos last week. New Yorkers got their bonus announcement on Jan. 2. Per our tipster, “the scale was as expected, the half-Skadden, which is significantly less than the bonus in non-NY offices, but at least is “market,” unlike our salaries.” Our tipster says the first A&P paycheck of the year remains at 2008 levels.
Bonus memos galore, after the jump.