Jeffrey D. Karpf

The floodgates are open and we are awash in bonus news. Sources are reporting that Simpson Thacher and Cleary Gottlieb are both matching the Sullivan & Cromwell bonus scale.

That means a little extra money for those at the very top of the scale.

But does it mean spring bonuses?

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This news shouldn’t come as a shock, since all the cool kids are doing it. But for the record, Cleary Gottlieb will be paying spring bonuses, following the top-of-the-market Cravath scale.

Cleary had previously announced spring bonuses on the Sullivan & Cromwell scale. In fact, CGSH was one of the first firms to follow S&C’s lead. But now that S&C’s spring bonus scale has been eclipsed, Cleary is stepping up to the plate and matching Cravath.

The news was announced today at an associate lunch, where Above the Law got a little shout-out….

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