Summer Bonuses

Associate Bonus Watch: Cahill Gordon Brings the Heat

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It’s getting hot in herre [sic] — and not just due to the scorching temperatures we’re experiencing here in New York City. Today we’re experiencing a flare up of Biglaw bonus news. And maybe some partners are starting to sweat, thinking about whether they might have to cough up some extra cash to keep their associates happy.

Okay, that might be a bit of a stretch. The notion of widespread midyear bonuses, comparable to the spring bonuses we saw in 2011, remains laughable an outside possibility. But it’s a little less crazy than it might have seemed a few weeks ago, now that multiple firms have plunged into the summer bonus pool.

This morning we wrote about June bonuses at Quinn Emanuel. Around the same time, we started receiving preliminary reports of July bonuses at Cahill Gordon.

The reports are accurate. Let’s learn about the amounts, as well as Cahill compensation more generally….

UPDATE (11:55 PM): Please note the correction below regarding amounts paid to junior associates.

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Associate Bonus Watch: Summer Fun at Quinn Emanuel
(And news from Cahill Gordon too.)

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CHECK YOU PAYCHECK — at least if you work at Quinn Emanuel. As promised, the thriving litigation firm paid out supplemental bonuses in late June.

The mere fact that it’s paying mid-year bonuses puts Quinn in the top tier of Biglaw. How many other major firms are paying such bonuses this year? The only other one that springs to mind for me is Sullivan & Cromwell (and this year’s S&C spring bonuses were nothing to write home about; but hey, at least S&C paid something).

(Perhaps Cahill Gordon is paying mid-year bonuses? They’ve paid June bonuses in the past.)

UPDATE (11:01 AM): We’re just now receiving word of the Cahill summer bonuses. We’ll be covering them in more detail in a forthcoming post. If you have info or opinions to share — by the way, we don’t have the full scale yet — please email us or text us (646-820-8477 / 646-820-TIPS).

So how much are we talking about for the Quinn summer bonuses? And how are QE associates reacting to the news?

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(And news from Cahill Gordon too.)“

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