Spring Bonuses
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Antitrust, Associate Bonus Watch 2011, Biglaw, Bonuses, Money, Partner Issues
What Do Cravath Partners Say About The Bonuses To Other Biglaw Partners When They Think Nobody Is Listening?
A tipster let us in on an overheard conversation between Cravath partner Susan Webster and a Biglaw partner at a different firm. When we contacted her, Webster told us that the tipster mischaracterized the nature of her accidentally public conversation. But why don't you take a look, and prepare yourself for the possibility of a very sad spring.... -
Associate Bonus Watch 2011, Biglaw, Bonuses, Money
Associate Bonus Watch: Sullivan & Cromwell 'Beats' Cravath -- and Promises Spring Bonuses
Sullivan & Cromwell has shown up to Bigfoot the partnership of Cravath -- sort of. It has announced a year-end bonus scale that is very similar to, but slightly better than, the Cravath bonus scale. And, more importantly, it has promised spring bonuses. Let's get into the specifics.... - Sponsored
Profit Powerhouse: Elevating Law Firm Financial Performance
In this CLE-eligible webinar on April 10th, we’ll explore the most common accounting pitfalls and how to avoid them for your firm. -
Associate Bonus Watch 2011, Biglaw, Bonuses
Associate Bonus Watch: Milbank Matches -- or Beats? -- Cravath and Skadden
Milbank Tweed matched the Cravath bonus scale for 2011. But wait -- did Milbank perhaps beat the Cravath and Skadden bonus scales? Let's look at the details of the Milbank bonus announcement....
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Associate Bonus Watch 2011, Biglaw, Bonuses, Money
Associate Bonus Watch: Skadden Matches Cravath
No surprises here: Skadden has matched the 2011 Cravath bonus scale. Given the sheer size of Skadden, in terms of attorney headcount, this announcement directly affects the pocketbooks of more lawyers than the Cravath news. Let's look at the memo, along with reactions from SASMF associates.... -
Associate Bonus Watch 2011, Biglaw, Bonuses, Holy Crap, Money
Breaking: Cravath Bonuses Are Out; Welcome to the 2011 Bonus Season!
It took a little longer than most of you expected, but Cravath, Swaine & Moore just announced its 2011 associate bonuses. Barring something very unforeseen, these bonuses are what many Biglaw firms, in New York and across the land, will pay out this year to their people. Historically Cravath has set the market with respect to year-end associate bonuses at major law firms. Let's take a look at the official memorandum, and engage in some analysis.... -
Associate Bonus Watch 2011, Biglaw, Bonuses, Holland & Knight, Money
Holland & Knight Gives Out Fall Bonuses -- Mainly Because They Didn't Get the Memo Last Spring
File this under the category of “better late than never.” Holland & Knight never adopted spring bonuses like other Biglaw firms. Why? Who knows. The firm didn’t want to play ball. Whatever. Now the firm wants to put a little extra money into the pockets of Holland & Knight associates. Today, sources tell us that […] -
Associate Bonus Watch 2011, Biglaw, Bonuses, Citigroup, Money, Partner Issues
Biglaw Starts To Manage Expectations About Bonuses
The first bit of bonus news has leaked out of Biglaw. We're not talking about spring bonuses, and we're not talking about random mid-year bonuses. We're talking about regular, end-of-the-year, take-it-to-the-champagne-room bonuses. And sure, the early news is bad, but that's to be expected. This first report is just what Biglaw wants you to hear. But if the past year in bonus news proves anything, it's that Cravath sets the bonus market, even when they do it late.... -
Associate Bonus Watch 2011, Biglaw, Bonuses, Money, Quote of the Day
Quote of the Day: Making It Rain Makes No Common Cents
There was no rational foundation to do [the spring bonuses]. It was not as if suddenly all the law firms in The Am Law 100 were minting money. — Ralph Baxter, longtime chairman and CEO of Orrick (shortly before he was overheard screaming at the Wheeling career associates to mint more money). - Sponsored
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Associate Bonus Watch 2010, Associate Bonus Watch 2011, Biglaw, Bonuses, Money
Associate Bonus Watch: Irell Announces Mid-Year Bonuses
Law firm bonus news keeps on coming. The latest windfalls are being paid out by Irell & Manella, which just announced "mid-year bonuses." -
Associate Bonus Watch 2010, Associate Bonus Watch 2011, Biglaw, Bonuses, Money
Associate Bonus Watch: Hughes Hubbard Makes 'Special Bonuses,' As It Would Have Been Stupid To Call Them Spring Bonuses
Earlier this week, Hughes Hubbard & Reed finally got around to issuing spring bonuses. Oh, we can’t call them “spring” bonuses, because Hughes Hubbard is calling them “special” bonuses. But make no mistake, this is a spring bonus HHR has just taken a long time to get around to. Unlike Cahill, which just gave their […] -
Associate Bonus Watch 2010, Associate Bonus Watch 2011, Biglaw, Bonuses, Money
Associate Bonus Watch: Cahill Gives Out 'Mid-Year' Bonuses
All right everybody, be cool, no need to break out the Drudge siren. Yes, Cahill Gordon, which previously smashed the year-end associate bonus market back in December, has just announced “mid-year” bonuses. But this announcement is unlikely to start a trend. Remember, because Cahill’s bonuses were already so high, the firm did not announce spring […] -
Associate Bonus Watch 2010, Associate Salaries, Biglaw, Bonuses, Constitutional Law, Gay, King & Spalding, Legal Ethics, Money, Partner Issues, Politics
King & Spalding: More DOMA Drama, Plus Salary and Bonus News
Some people, including crisis communications experts, think that King & Spalding should just shut up already about the DOMA debacle. The firm agreed to represent the House of Representatives in defending the controversial Defense of Marriage Act, and then almost immediately turned around and withdrew from the representation. This prompted the departure from the firm […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Layoffs, Money, Pregnancy / Paternity
In Defense of Kaye Scholer
While performing here at the ATL Cabaret on Wednesday night, the celebrated drag queen of Biglaw, Kaye Scholer, was pelted with rotten fruit — by her own associates. If you haven’t done so already, do check out their rage-filled rants. (If nothing else, they’ll make you feel better about your own firm.) As we’ve stated […]
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Profit Powerhouse: Elevating Law Firm Financial Performance
In this CLE-eligible webinar on April 10th, we’ll explore the most common accounting pitfalls and how to avoid them for your firm.
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Associate Bonus Watch 2010, Biglaw, Bonuses, Layoffs, Money, Pregnancy / Paternity
Growing Discontent at Kaye Scholer
We previously compared the law firm of Kaye Scholer to a drag queen. Kaye Scholer, Kay Scholer — geddit? Well, some associates at Kaye Scholer claim they’ve seen underneath all the make-up — and it’s not pretty. This contestant would not go far in RuPaul’s Drag Race. In terms of responses to our recent discussion […] -
Associate Bonus Watch 2010, Associate Salaries, Biglaw, Bonuses, Cheapness, Money
Associate Bonus Watch: DLA Piper's People Pipe Up -- and They're Not Happy
DLA Piper has released some information about its associate compensation and bonus payouts, and some associates who work for the firm are unhappy. Why? I don’t really know. I don’t know why they thought that working for the largest firm in the world would be a good thing when it came time to pay out […] -
Arnold & Porter, Associate Bonus Watch 2010, Biglaw, Bonuses, Money, Stroock & Stroock & Lavan
Which Firms Are Definitely NOT Paying Spring Bonuses?
It’s April 29. Monarchists have long circled this day as an opportunity to praise the vestigial structures of imperial domination. But this day means a lot to people who earn their fortune through work instead of birth. Today is a huge day for Biglaw associates. For many, today is the day spring bonus payments hit […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Money
Associate Bonus Watch: Schulte Will Pay Spring Bonuses, But You'll Need To Jump Through Some Hoops First
The funny thing about spring bonuses is that nobody really planned on them. Firms really thought they were going to be able to get through bonus season paying Cravath’s lowball initial bonuses. Remember when Cravath seemingly set the market, and there was that one partner caught saying “thank God”? That’s what firms were thinking. Well, […] -
Associate Bonus Watch 2010, Associate Salaries, Biglaw, Bonuses, Money, Salary Freeze, Silicon Valley
Associate Salary Watch: Wilson Sonsini Restores Pay to Pre-Freeze Scale
It appears that Larry Sonsini, chairman and name partner of the high-powered Wilson Sonsini law firm, is a very good golfer. Earlier this year, while playing golf to celebrate his 70th birthday, the legendary lawyer scored a hole in one. Sonsini isn’t the only one who’s scoring over at 650 Page Mill Road. His partners […] -
Akin Gump, Associate Bonus Watch 2010, Biglaw, Bonuses, Money, Partner Profits
Associate Bonus Watch: Akin Gump Jumps on Spring Bonus Bandwagon
It’s definitely a good Friday over at Akin Gump. The firm just announced spring bonuses. Better late than never. We’ve been receiving complaints from financially achin’ Akin associates for weeks. Earlier this month, for example, one Akin Gump lawyer complained about the firm not paying spring bonuses despite robust profits in 2010 (profit per partner […] -
Associate Bonus Watch 2010, Biglaw, Bonuses, Money
Open Thread: Class of 2010 Associate Bonus Bitch-Fest
Personally, I think it’s time for Biglaw associates in the class of 2010 to drink a tall glass of shut the hell up. They got jobs at a time when many of their classmates did not. They received $160K salaries just after there was a significant effort by some firms to push starting salaries down […]