Earlier this month, the top-flight California firm of Irell & Manella announced associate bonuses. Historically Irell has paid well above market. Last year, for example, Irell paid double the going rate (as set by Cravath and the other major New York firms).
Law firm bonus announcements come in two waves. In November and December, the New York-centric firms announce their bonuses (after taking their cue from Cravath). In January and February, the West Coast and also nationally oriented firms announce their bonuses for the prior year.
So the 2012 bonus season isn’t over, even though we’re now two weeks into 2013. Yesterday, for example, brought bonus news from Orrick, Herrington & Sutcliffe.
Orrick is a leader is the brave new world of “merit-based compensation.” What are they up to now?
Yesterday, we talked about the Quinn Emanuel bonuses. Many associates were angry, especially those who had billed a lot of hours in 2012. For some of those top billers, their bonuses were smaller than the same amount of work was worth last year.
Well, advocate and thou shalt receive. Quinn Emanuel just sent around a memo announcing that it will be increasing the top-end payments, to bring them in line with last year…
Partners: Alright you associates, ready to get happy about bonuses?
Quinn Associate: I’d say we are.
Cravath Associate: Yeah, let’s sing it now!
Partners: Okay, Kirkland?
Kirkland Associate: Okay!
Partners: Okay, Cravath?
Cravath Associate: Okay!
Partners: Okay Quinn? … Quinn? … QUINN EMANUEL!!!
Quinn Associate: OKAY!!
Yes, the Chipmunk Christmas Song is the perfect holiday analogy for Biglaw bonus season this year. And not just because Biglaw associates do work that talking chipmunks could accomplish [zing]. I’m looking at associate reactions from all these firms, and it just seems like expectations are playing a much larger role than the actual dollar amounts.
And then you have Quinn associates, playing Alvin, the diva. Their bonuses came out just before Christmas, and they seem really angry about this situation. Even though most of them are making more than Cravath.
The good news: their bonuses are much better than the “scraps thrown to the troglodytes slaving away at Cravath,” according to one tipster.
The bad news: the bonuses don’t seem to be as generous as last year’s, and some associates made less in real dollars this year than last year, despite billing the same amount of hours and being a year more senior.
So not everybody at Kirkland is happy, which is weird because usually K&E gives its people happy juice before they talk to anybody.
Of course, when your firm uses Cravath as a baseline for your bonuses, happiness is a relative term….
As we mentioned last month, the downtown law firm of Cahill Gordon got hit hard by Superstorm Sandy. Weeks after the hurricane, lawyers and staff at Cahill are still working out of temporary space. We hear that they’ll be moving back to their normal office space in January.
But no natural disaster can stop money from raining down on Cahill associates. The firm just announced “special” bonuses that will be paid this month, in advance of usual year-end bonuses in January. And who knows — if all goes well, maybe the firm will pay summer bonuses in 2013, as it did in July 2012.
So how much is Cahill paying out this month, in advance of Cravath-level bonuses in January?
We’re tempted to do what we proposed last year regarding Sidley Austin bonuses, by simply writing: “Sidley bonuses are out. The scale is not transparent, so some people may be happy with their bonuses and others may be unhappy. Here is an open thread for you to discuss. Thank you.”
That would at least spare us from some of the criticism we’ve received for our coverage of the Sidley bonuses in recent years. In 2010, we initially wrote a very positive post, which we got criticized for by people who saw it as too positive. In 2011, we went in the other direction, reporting that Sidley’s bonuses drew yawns from associates — an assessment that drew flak for us from happy campers at Sidley (and there are many happy campers at the firm; it enjoys an A- rating from ATL readers who work there).
So we realize that covering the sensitive subject of Sidley bonuses is a bit like trying to reach a budget deal: you can’t make everyone happy, just varying degrees of unhappy. But we’ll give it our best shot….
Even if the big lockstep New York firms are done, associate bonus news continues to roll in from around the country. For example, bonuses are out at Sidley Austin. We’re working on a story for tomorrow; feel free to email us or text us (646-820-8477) with your reactions (to be used anonymously).
Today brings bonus news from Susman Godfrey. The high-powered boutique is known for high-stakes commercial litigation — and high, market-beating bonuses.
(And high-attendance holiday parties too; this year’s fête in New York drew more than 500 guests, many of them boldface names of the legal profession. As I observed on Twitter, “you could staff a great law firm with the guest list at the Susman Godfrey holiday party.”)
So how big were the Susman Godfrey bonuses this year?
The global law firm of Clifford Chance, a member of the Magic Circle, is one of the biggest names in Biglaw. It’s the world’s #5 law firm in terms of revenue and the #3 law firm in terms of headcount. In the American Lawyer’s inaugural set of rankings for the world’s most valuable law firms, Clifford Chance came in #6. Clifford Chance is so global that it makes the Atlantic Ocean look like a pond.
Here in the United States, Clifford Chance has offices in New York and Washington. What can associates in these offices expect in terms of their bonuses this year?
OmniVere’s delivery of end-to-end technology & data consulting to position the company as a true differentiator in the global legal technology and compliance space.
CHICAGO, IL, September 29, 2014 – OmniVere today announced the creation of the company’s technology & data consulting arm and the addition of several industry-renown experts, including the former co-chairs of Berkeley Research Group’s (BRG’s) Technology Services practice, Liam Ferguson, Rich Finkelman and Courtney Fletcher.
This new consulting practice will provide and expand existing OmniVere eDiscovery consulting services to corporations, law firms and government agencies with a special focus on compliance, information governance and eDiscovery. This addition of this top talent now positions OmniVere as a true industry leader in the technology and data consulting space offering best-in-class end-to-end services.
Ferguson, Finkelman & Fletcher are nationally recognized experts and seasoned veterans in the areas of overall technology, electronic discovery, and structured data. At OmniVere, the team will be focused on all global consulting activities with respect to legal compliance, complex data analytics, business intelligence design and analysis, and electronic discovery service offerings.
The Trust Women conference is an influential gathering that brings together global corporations, lawyers and pioneers in the field of women’s rights. Unlike many other events, Trust Women delegates take action and forge tangible commitments to empower women to know and defend their rights.
This year, the Trust Women conference will take place 18-19 November in London. From women’s economic empowerment to slavery in the supply chain and child labour, this year’s agenda is strong and powerful. Speakers include Professor Muhammad Yunus, Nobel Laureate and founder of the Grameen Bank; Phumzile Mlambo-Ngcuka, Executive Director of UN Women; Mary Ellen Iskenderian, President and CEO of Women’s World Banking and many other influential leaders. Find out more about Trust Women here.