Associate Bonus Watch 2010
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Associate Bonus Watch 2010, Biglaw, Bonuses, Money, Partner Issues, Partner Profits
If Cadwalader Makes It Rain, Many More Firms Will Have to Follow
Fact: Spring bonuses have been announced at Cravath, Sullivan & Cromwell, Simpson Thacher, and Cleary Gottlieb. Fact: It’s February 7th. Fact: Skadden, Davis Polk, Weil, and Debevoise should be ashamed of themselves. Honestly, I don’t know what the top-tier firms that haven’t announced spring bonuses think they’re doing. Do they hope that no one is […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Money
WHERE ARE THE SPRING BONUSES?
Let’s say you’re an associate at Skadden — or Davis Polk, Weil Gotshal, Debevoise & Plimpton, or any other top law firm that has not yet joined in the springtime bonus fun. On Friday afternoon, a favored time for spring bonus news, you get an email from someone in recruiting / human resources. The email […] - Sponsored
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Associate Bonus Watch 2010, Biglaw, Bonuses, Fabulosity, Money
Associate Bonus Watch: Cravath Enters the Bonus Wars -- and Beats S&C!
The venerable firm of Cravath, Swaine & Moore — still widely regarded as setting the market for associate compensation at large law firms, even if other places pay more — has announced springtime bonuses. These bonuses are on top of the recent year-end bonuses that Cravath paid in December 2010. And get this: the CSM […]
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Associate Bonus Watch 2010, Associate Salaries, Biglaw, Bonuses, Money
Associate Bonus (and Salary) Watch: Wilson Sonsini
In our coverage last month of top law firm partners to work for, Wilson Sonsini did well. See here and here. (Speaking of Wilson Sonsini partners, the firm recently announced nine new ones — including Rick Frenkel, of “Troll Tracker” fame. Congratulations!) Not only does WSGR have some great partners to work for, but they […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Money
Associate Bonus Watch: Morgan Lewis & Bockius
This week brought annual reviews and individual bonus news for associates at Morgan Lewis & Bockius. Today (Friday) is payday, so everyone at MLB should know their bonus by now (or fairly soon). Back in November, firm chairman Francis M. Milone stated that 2010 bonuses would be “substantially larger” than last year. So that set […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Money
Associate Bonus Watch: Cleary Gottlieb Matches S&C Spring Bonuses!
Springtime for Hitler? No, silly — Springtime for Associate Bonuses! And just like the (in)famous “show within a show” from The Producers, this production is a huge hit. This afternoon, Cleary Gottlieb announced spring bonuses on the Sullivan & Cromwell scale. They’re payable on April 29, just like those of Simpson Thacher. What else is […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Money
Associate Bonus Watch: Simpson Thacher Matches S&C Spring Bonuses!
Wow, it’s starting to feel like 2008 (pre-Lehman) up in here! Earlier today, the Dow Jones broke the 12,000 mark. And now law firms — law firms that could treat their associates like dirt and still have have no problems with retention, according to some people — are once again competing with each other in […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Layoffs, Money, Partner Issues, Partner Profits
The State of Biglaw: With Layoffs Down Dramatically, Will Spring Bring Bonuses?
This evening, many of us — and six Supreme Court justices, according to an announcement this morning from the Court — will listen to the State of the Union address. Don’t be shocked if President Obama tells us that the state of the union is “strong.” When was the last time a president appeared before […] - Sponsored
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Associate Bonus Watch 2010, Biglaw, Bonuses, Fabulosity, Money
Associate Bonus Watch: Sullivan & Cromwell Pays Generous Spring Bonuses!
Friday afternoons are for bad news. When you have some news that you want to disappear into the ether, you announce it on Friday afternoon. It’s a favorite time for disgraced D.C. figures to resign from office in order to “spend more time with their families.” So why did Sullivan & Cromwell, one of the […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Money
Associate Bonus Watch: Latham Bonuses Are Out (and Looking Good)
Last month, when the world was bemoaning the Biglaw associate bonus market after Sullivan & Cromwell’s bonuses more or less fell in line with Cravath’s bonuses, I wrote as follows: “I’m keeping my eye out for Latham. It fits with their model. In bad times, suffering to all. In good times, models and bottles…. Latham […] -
Associate Bonus Watch 2010, Associate Salaries, Biglaw, Bonuses, Money
Associate Bonus (and Salary) Watch: Goodwin Procter
Last month, the Boston Globe reported on an arbitrator’s finding that Goodwin Procter overcharged a real estate client by more than $540,000. (We mentioned the Globe story here and here.) Alas, some claim that Goodwin isn’t letting that extra gravy trickle down to its associates…. -
Associate Bonus Watch 2010, Biglaw, Bonuses, Money
Associate Bonus Watch: Gibson Dunn Open Thread
(Yes, this is late, but better late than never. If you have bonus news or a bonus memo that we have not yet written up — run a site search or scroll through our archives to check what we’ve already covered — please email us. Thanks.) Last month, Gibson Dunn & Crutcher announced associate bonuses. […] -
Advertising, Associate Bonus Watch 2010, Biglaw, Bonuses, Career Center, Job Survey, Money, Shameless Plugs, This Is an Ad
Career Center Survey Results: Bonus Satisfaction
In a previous post, we revealed that 73% of respondents to our survey met their minimum billable requirements last year. Today, we find out whether associates were satisfied with receiving 2009-level bonuses for a busier 2010. Let’s see what the survey says….
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Associate Bonus Watch 2010, Biglaw, Bonuses, Money
Associate (and Staff) Bonus Watch: Vinson & Elkins Is Treating All of Its Employees
Associates bitch when partners won’t share the wealth, but nobody says a peep when legal support staff get shafted. The very concept of staff bonuses has gotten lost in the recession shuffle, despite the fact that the support staff who remain are being stretched so thin. Well, it looks like Vinson & Elkins remembers that […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Money
Counsel Bonus Watch: Open Thread
We’ve devoted extensive coverage to associate bonuses. But what about bonuses for those lawyers who are neither associates nor partners (nor staff attoneys), referred to by most large law firms as “counsel”? How much are they getting in bonuses this time around? Many Biglaw bonus memos contain language stating that counsel bonuses are determined separately […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Law Schools, Reality TV, Television
Associate Bonus Watch: Sherman & Sterling(And... Jeopardy!)
We want to hear about your firm’s bonus news, even if it’s old. If we haven’t reported on it yet, we want to know about it. (Use our site search box in the upper-right-hand corner, or scroll through our Associate Bonus Watch archives, to see which announcements we’ve already covered.) Here’s some old bonus news […] -
Associate Bonus Watch 2010, Biglaw, Bonuses
Associate Bonus Watch: Patterson Belknap
Even though the holidays may be behind us, bonus news is not. Much of the big bonus news tends to come down in November and December, but announcements (and payments) continue into January, February, and beyond. So stay tuned for the latest updates. Yesterday we posted an open thread for discussion of firms that have […] -
Associate Bonus Watch 2010
Associate Bonus Watch: Let's Make a List of Firms Like Irell & Manella That Are Killing Cravath Bonuses
Over the holiday break, Irell & Manella announced its associate bonuses. Multiple sources are telling us that the Irell bonuses doubled the bonuses offered by Cravath, Sullivan & Cromwell, or their followers. That’s great news, but Irell associates are not particularly impressed. Irell doubled the small bonuses of Cravath and S&C last year, too. And […] -
Arnold & Porter, Associate Bonus Watch 2010
Associate Bonus Watch: Arnold & Porter Will Try Transparency Next Year, This Year Sticks With Cloak and Dagger Routine
It’s hard to understand why some firms choose secrecy over transparency when it comes to associate bonuses. I understand not wanting to tell Above the Law about them. We often find out eventually, but if you want to make us jump through a couple of extra hoops, that’s fine. (To help us jump through the […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Ho-Love, Hogan & Hartson, Lovells, Money
Associate Bonus Watch: Unhappiness at Hogan Lovells?
Last week, Hogan Lovells announced its associate bonuses. It’s the first bonus season for the firm since the merger of Hogan & Hartson and Lovells. Unfortunately for some associates, the transatlantic deal apparently did not pay off for them at bonus time. The memos are individualized, but the associates who have reached out to Above […]