Craig Medwick

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?

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MOAR BONUS NEWS!

Enough with all this sadness about these pathetically low bonuses that Cravath has engineered for everybody. Let’s try to be positive. People are getting money. Yay money. Who can be sad when they are getting more money?

In fact, I have a great idea: instead of just writing checks that reflect the general New York bonus scale, Clifford Chance and Covington & Burling should pay the bonuses out in single dollar bills. The partners should sneak into each associate’s office at night and just spread the money around. If you share an office, well, the early bird gets the worm.

See, then it’s fun. It’s a like a game. And it distracts the mind from how ridiculous it is to give the same bonus from 2010 in 2011….

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Things have been a little quiet lately on the spring bonus front. For a while we were wondering whether this might be it — i.e., that any firm that hasn’t announced by now isn’t planning on announcing anything.

Happily, this speculation was wrong. The latest news comes from Clifford Chance, which this morning announced spring bonuses on the top-of-the-line Cravath scale.

Let’s look at the full memo, and see how CC sources are reacting….

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