Associate Bonus Watch 2007
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Associate Bonus Watch 2007, Biglaw, Billable Hours, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Mayer Brown Announces(And penalizes associates for delinquent time entry.)
The powers-that-be at Mayer Brown have made their decisions on bonus and salary adjustments, as announced in an email last night. And it appears that they’ve taken a page from the Dechert playbook, according to one associate: “The second paragraph [of the memo] is a shock. We were never informed of financial ramifications for failing […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Winston & Strawn (DC)(And a request for info about that Monday morning meeting)
We previously reported on bonuses in the New York office of Winston & Strawn. Now it’s Washington’s turn: Winston & Strawn’s DC associates recently received their bonuses. Associates received individualized bonus memos, so there is nothing that can be posted (this has been firm policy for years). Bonuses were up significantly over previous years, and […] - Sponsored
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Associate Bonus Watch 2007, Biglaw, Bonuses
Associate Bonus Watch: Dechert Sweetens Bonus Pot By 40 Percent Over Last Year
We were surprised by the strong, almost vitriolic commenter response to our recent post about Dechert LLP. The firm announced that it was reducing bonus amounts for associates who failed to enter their time in timely fashion. We weren’t the only ones who were taken aback by reader reaction. From a source at the firm: […]
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Associate Bonus Watch 2007, Biglaw, Billable Hours, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Dechert Docks Associates for Dilatory Billables
How can law firm administrators get associates to enter their time on time? Here’s one idea: link time entry to those beloved bonuses. From a source at Dechert: Attached is an email that all the attorneys at Dechert LLP received today regarding associate bonuses and potential penalties. According to the policy outlined below, an associate’s […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Screw-Ups, Skaddenfreude
Associate Bonus Watch: Getting to the Bottom of the Cadwalader Mystery
We’ve spent a ridiculous amount of time and energy trying to get to the bottom of the bonus situation at Cadwalader, Wickersham & Taft. We’ve heard all sorts of conflicting rumors, but we think we’ve finally figured things out — to the extent that they can be figured out. This post supersedes all prior coverage […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: DLA Piper
Today brings us bonus and salary news from DLA Piper, the biggest of all Biglaws. Back in November, the firm was crowned by the National Law Journal as the nation’s largest law firm (with a whopping 3,623 attorneys). DLA Piper may be the biggest — but not when it comes to bonuses. From a disgruntled […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude, Sports, Weirdness
Associate Bonus Watch: Kaye Scholer Bonus Follow-Up(And Other Random Tidbits About the Firm)
A little follow-up on Kaye Scholer, whose bonus memo we posted back in November. From a source at the firm: Just found out that despite the memo sent to associates last year, Kaye Scholer has decided to tie the special bonus to hours. Requiring 2200 hours to receive the special bonus. There was no mention […] -
Akin Gump, Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Wilson Sonsini, Akin Gump (DC), Quinn Emanuel
Here are a few quick updates on the associate bonus front: 1. Wilson Sonsini: On Monday night, the firm issued a long and complicated memo, which we’ve posted in all its glory after the jump. Since we haven’t taken math since high school calculus, it went a bit over our head. General reaction to the […] - Sponsored
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Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Morrison & Foerster (non-New York)
Before the New Year, associates in the New York office of Morrison & Foerster received their bonus news. Now it’s time for their colleagues outside of NYC to collect their cash. In addition to the firm’s “standard productivity bonuses under the published 2007 compensation program,” MoFo is paying out (1) “a one-time bonus” (it sounds […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Some Updates
We don’t really have any major bonus news to pass along. Here are a few items following up on previously reported developments: 1. Latham & Watkins: On Friday we reported on the LW bonuses, which were well-received by associates. We now have more detailed information, which appears after the jump. 2. McDermott Will & Emery: […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Happy Campers at Latham & Watkins
We’ve been hearing a bit about the bonuses paid out by Latham & Watkins. It seems that LW associates are quite pleased. Going back to our post from earlier today, it seems that one tipster’s speculation about a meeting to spin bad news was off the mark. A second LW source had this rebuttal: Sometimes […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: WilmerHale in Washington
Yesterday the D.C. office of WilmerHale made its bonus announcement. Here’s a summary from a source at the firm: The bonus memo came out today. Yay! Salaries are the same. For the class of 2006, the hours guideline for bonuses is: Hours Bonus1,850 $15,0002,000 $35,0002,200 $40,0002,400 $45,000 Management gave the caveat that bonuses were awarded […] -
Associate Bonus Watch 2007
Associate Bonus Watch: Reading the Latham Tea Leaves
Expect bonus news in a matter of hours from Latham & Watkins. An LW source writes: Some are speculating Latham will try to cheap out on bonuses because [last night] we received an e-mail to all associates that there will be a meeting Monday to discuss bonuses. I don’t remember them doing this last year, […]
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Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Weil Raises the Ceiling
As you may recall, back in November, Weil, Gotshal & Manges announced special bonuses, at market levels. In its memo, the firm explained that year-end bonuses would be announced at a later point: As is customary, 2007 year-end bonuses will be paid at market to associates receiving an “Overall Strong” rating and will be above […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Cadwalader, Wickersham & Taft
Back in November, Cadwalader, Wickersham & Taft issued a bonus memo that was devoid of numbers. Today, the CWT associates who survived the recent layoffs — which, to be fair, is most of them — learned how much they’d be getting. But since there was no firm-wide memo, there’s still a lack of total transparency […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Winston & Strawn (New York)
Sorry it’s been a little slow around here for the past few hours. In the morning, we had some technical difficulties. For most of this afternoon, we’ve been offline, speaking at this D.C. bar panel. Anyway, now we’re back. And we have a fair amount of bonus information to pass along. The New York office […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: K&L Gates (New York)
A report on bonuses (such as they are) at K&L Gates in New York: No notice — not even an email. Apparently, the “highly confidential” memo appearing on ATL last year less than 24 hours after its release wasn’t appreciated. We were told that we would find out what the bonus was when it hit […] -
Associate Bonus Watch 2007
Associate Bonus Watch: Goodwin Procter
Last week, a Boston tipster told us: As you probably know, the rest of the Boston firms will begin announcing bonuses next week (finally). Anyway, just thought I’d let you know that associates at Goodwin Procter received a very short email yesterday that there would be a meeting on Tuesday at 1pm to discuss “this […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: McDermott Will & Emery to Pay Supplemental Bonuses
As we mentioned last week, McDermott Will & Emery was planning to hold a meeting with associates today about compensation matters. The meeting is over; here’s a brief report: The MWE associate compensation committee had a videoconference with all associates this morning, where they ate crow about their bonus structure for 2007. They basically said, […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Litigatrix, Partner Profits, Susan Estrich
News that Quinn Emanuel Associates Are Sure To Love
Some associates at Quinn Emanuel are a tad grumpy these days. But here are three items to cheer them up: 1. Profits per partner clear $3 million. As we previously reported in these pages, some QE associates were rather unhappy with their bonuses. But look on the bright side: stingy bonuses mean more money once […]