Associate Bonus Watch 2009
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Associate Bonus Watch 2009
Associate Bonus Watch: Gibson Dunn Open Thread
Welcome to the associate bonus post for Gibson Dunn, which has informed its associates of their 2009 bonuses. This post is going to look a lot like the recent Sidley bonus post. Bonuses at Gibson, like those at Sidley, are individualized and individually communicated. This is especially true for the non-New York offices. (We understand […] -
Associate Bonus Watch 2009, Stroock & Stroock & Lavan
Associate Bonus Watch: Stroock Strokes Associates With Cravath Bonus
Stroock’s bonus news is out. The firm will be paying the Cravath scale, if you hit 1900 hours. If you missed that target, you’re out of luck. Here’s the statement from the firm: 2009 bonuses are consistent with the “Cravath scale” with a presumptive threshold of 1900 hours to qualify for consideration. Merit has always […] - Sponsored
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Associate Bonus Watch 2009
Associate Bonus Watch: Sidley Austin Open Thread
Bonuses at Sidley Austin are out, and they are all individualized. Perhaps Sidley doesn’t want its associates to know what their colleagues are making. Which might be a smart move. Above the Law sources report that there is significant variance in the Sidley bonus. We’ve heard of bonus payouts as high as $90,000 for associates. […]
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Associate Bonus Watch 2009, Pro Bono, Public Interest
Associate Bonus Watch: Simpson Shares the Wealth with Public Service Fellows
Here’s a bit of surprising good news, from a source at Simpson Thacher: Thought that STB should get its props for the (completely unexpected) notice that those on the public service fellowships will receive a pro-rated portion of the bonus that their individual class years received. Not bad, considering that normally not being employed at […] -
Associate Bonus Watch 2009, Dewey & LeBoeuf
Associate Bonus Watch: Dewey & LeBoeuf Helps Me Keep My Clothes On
Last week, I wrote: If Dewey doesn’t follow the market and instead pays what it did last year, I’ll strip naked and run through the streets screaming “I am TTT! I am so TTT!” Happily for me — and the women and children of the New York metropolitan area — Dewey & LeBoeuf decided to […] -
Associate Bonus Watch 2009
Does Cravath Need to Match Sullivan & Cromwell?
A funny thing happened on the way to Cravath setting the 2009 Biglaw associate bonus. They didn’t. When Cleary matched Cravath’s bonus, 83% of Above the Law readers said that all other large New York firms would follow Cravath. But 83% of our readers were wrong. Sullivan & Cromwell topped Cravath’s bonus by $5,000 for […] -
Associate Bonus Watch 2009, Killing Lockstep
Associate Bonus Watch: Fried Frank's Black Box of Bonuses
This morning brings associate bonus news from Fried Frank. The firm’s bonus announcement reflects the broader Biglaw trend of moving away from a lockstep compensation system. Last year, Fried Frank employed a standard bonus schedule, along Cravath lines, with bonuses paid out in accordance with seniority. This year, the firm has ditched the traditional class-year […] -
Associate Bonus Watch 2009, Bonuses, David Boies
Associate Bonus Watch: Boies Will Be BoiesGenerous bonuses, above-market base salaries.
Year-end associate bonuses were recently announced by Boies, Schiller & Flexner, the litigation powerhouse founded by the renowned David Boies. And the Boies bonuses were good — very good. For starters, unlike other top firms, Boies is paying bonuses to first-year associates from the class of 2009. According to Phil Korologos, a partner in the […] - Sponsored
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Associate Bonus Watch 2009
Associate Bonus Watch: Ropes & Gray Matches
Ropes & Gray bonus information is breaking over the wire. We understand that Ropes has matched the market scale — at least for junior associates. We’re still waiting to hear what senior people are getting. Will firms match the Cravath scale — which gives senior associates a $30,000 bonus? Or will Ropes follow Sullivan & […] -
Associate Bonus Watch 2009
Associate Bonus Watch: Paul Weiss Follows SullCrom's Lead
Last year, Paul, Weiss, Rifkind, Wharton & Garrison based its bonuses on the Cravath scale. This year, it has decided to buck Cravath and “upsize” to the Sullivan & Cromwell scale. That means seventh year associates get $5,000 more in their stockings than those at Cravath-scale firms. Associates at Paul Weiss got the bonus news […] -
Associate Bonus Watch 2009
Associate Bonus Watch: Sullivan & Cromwell Matches(But raises the ceiling: $35K for Class of 2002)
Judge Halverson has sung. Associate bonus season for 2009 is effectively over, at least in New York. (What happens in the rest of the country — e.g., Washington, D.C. — remains to be seen.) The venerable firm of Sullivan & Cromwell — the last best hope of associates for higher bonuses, due to its strong […] -
Associate Bonus Watch 2009, Patton Boggs, Salary Cuts, Salary Freeze
Associate Bonus Watch: Patton Boggs and the D.C. Market
Yesterday we reported that Patton Boggs was having an all associates meeting and wanted its people to be there in person. With everybody gathered around, Patton Boggs unleashed a torrent of news. First things first. Here’s the bonus announcement, from a statement the firm released to Above the Law about the meeting: As usual, we […] -
Associate Bonus Watch 2009, Bonuses, Money
Associate Bonus Watch: Milbank Hops on the Bandwagon
The bonus machine keeps on rolling. Milbank Tweed announced its 2009 associate bonus schedule just before Thanksgiving. The firm will be matching Cravath. It’s interesting that Milbank decided to match the bonus market, considering the firm has already greatly reduced the size of its summer program. In July, we reported that Milbank canceled its 2010 […]
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Associate Bonus Watch 2009, Bonuses, Money
Associate Bonus Watch: Debevoise Matches
Is announcing associate bonuses on the Wednesday before Thanksgiving a trend in the making? Will we get a few more announcements this afternoon, to match those by Davis Polk and now Debevoise & Plimpton? Debevoise has had a relatively busy year, from what we understand. But is there life after Siemens? Being conservative with bonuses […] -
Associate Bonus Watch 2009, Bonuses, Money
Associate Bonus Watch: Davis Polk & Wardwell Matches
Well, here’s an early Thanksgiving present from the partnership at Davis Polk & Wardwell to their associates. Bonus news. DPW will be putting the same meal on the table as Cravath: We are pleased to announce that associates in good standing will receive a bonus payment as outlined below. Bonuses will be paid on December […] -
Associate Bonus Watch 2009
Associate Bonus Watch: Simpson Thacher & Bartlett Falls in Line
The bonus news is coming fast and furious today. Simpson Thacher & Bartlett is trying to nail down the market at the Cravath level. Multiple tipsters sent in the STB bonus announcement and the firm is following Cravath at all class levels. Regular Above the Law readers will note that there is absolutely no surprise […] -
Associate Bonus Watch 2009, Bonuses, Money, Willkie Farr
Associate Bonus Watch: Willkie Matches Cravath and Full-Cravath
Bonus season is now in full swing. Sources report that Willkie Farr has announced bonuses that match the Cravath scale. Here’s the breakdown: From: The Executive CommitteeTo: ASSOCIATES – NY; ASSOCIATES – DCCc: PARTNERS – FIRMWIDESent: Fri Nov 20 11:11:01 2009Subject: 2009 Associate Bonuses The Executive Committee is pleased to announce the following year-end bonuses […] -
Associate Bonus Watch 2009
Breaking: Skadden Bonuses Are Out ... And Not Very Exciting
Skadden has decided to match the Cravath scale. Here’s the scale: 2008 — $7,500 2007 — $10,000 2006 — $15,000 2005 — $20,000 2004 — $25,000 2003 — $30,000 2002 — $30,000 With Skadden and Cravath on the same page, the rest of this bonus season might be devoid of any real drama. Associates will […] -
Associate Bonus Watch 2009
Sidley Austin Associate's Town Hall Delivers Encouraging Bonus News
After Cleary announced its 2009 associate bonus, we asked you if the market had been set at the Cravath level. In response to the question “is it over,” 83% of you said “yes.” Not so fast my friends. There was an all associates meeting at the D.C. office of Sidley Austin. Tipsters report that the […] -
Associate Bonus Watch 2009, Biglaw, Bonuses, Money, Reader Polls
Breaking: Cleary Matches Cravath BonusesIs it all over? Reader poll after the jump.
We have confirmed the news of a Cravath bonus match with multiple sources at Cleary Gottlieb. One exchange went something like this: ATL: Any good news today? CGSH: No. Cravath news. Bonus FAIL. So the 2009 bonus market is probably going to coalesce around the Cravath-level bonuses — unless S&C shows up and trumps CSM. […]