We recently wondered about bonuses this year at Irell & Manella. Ask and you shall receive. We received several reports about bonuses at I&M, and it turns out that the firm did exactly what it did last year. It paid above-market bonuses according to the following scale (with the market bonus, i.e., Cravath, indicated parenthetically):
Class of 2015: 20 (15)
Class of 2014: 20 (15)
Class of 2013: 30 (25)
Class of 2012: 60 (50)
Class of 2011: 75 (65)
Class of 2010: 90 (80)
Class of 2009: 105 (90)
Class of 2008: 115 (100)
Class of 2007: 120 (100)
As was the case last year, the Irell sources we’ve heard from aren’t particularly pleased. The bonuses didn’t come as a major surprise, after Cravath and the New York market stuck to their guns, but some Irell tipsters expressed frustration because (1) Irell had a busy second half of the year and (2) Hueston Hennigan, populated largely by ex-Irell lawyers, just announced well-received bonuses.
AI Is Killing Legal’s Billable Hour. It’s Also Repeating Its Worst Mistake
Law firms and legal departments are writing the future of the profession in separate rooms. What happens when they actually work together?
In other snooze-inducing bonus news, the Magic Circle firm of Linklaters announced on Wednesday that it will be paying year-end bonuses at New York market levels on December 30 to all U.S.-based associates in good standing. This is also exactly what the firm did last year, and exactly what the firm always does.
“Everyone is pleased,” one source said. “Not unexpected — Links always matches. Happy they’re paid out this year. A bit annoyed with the late announcement, but not really a big deal.”
If you have bonus news we haven’t yet covered, even if it isn’t earth-shattering, send it our way by email or by text message (646-820-8477). Thanks, and happy holidays.
Earlier: Associate Bonus Watch: Another Boutique Beats Biglaw
Associate Bonus Watch: 10 Leading Law Firms — Who’s Naughty And Who’s Nice?