Associate Bonus Watch: It's All About The Benjamins For Top Billers At This Firm
There's something very special in store for those who billed their behinds off...
Today, one Biglaw firm has turned its lunch hour into a winter wonderland, but instead of snow drifts, associates who have been pulling all-nighters are jumping onto mountains of cash.
Schulte Roth & Zabel has announced Cravath-match market bonuses — from the class of 2016 ($15,000 pro-rated) straight through to the class of 2007 ($100,000) — but there’s something very special in store for those who have billed their behinds off. Associates who recorded 2300 eligible hours will receive an extra $10,000, while associates who recorded 2500 eligible hours will receive an additional $10,000 more. Associates who satisfy both thresholds will receive $20,000 total on top of the standard bonuses for their class years.
After the firm raised base salaries to the $180,000 scale this summer, associates must be pretty pleased with their holiday bonus bounty. That extra money will come in a single check payable on January 20, 2017. Congratulations to all SRZ associates.
Luxury, Lies, And A $10 Million Embezzlement
That’s our take on associate bonuses from Schulte Roth & Zabel. If you’re a lawyer at the firm, what do you think? Feel free to let us know how you feel by email, by text message (646-820-8477), or by tweet (@ATLblog). A fun or insightful response — we’ll keep you anonymous — could find its way into an update to this story.
As a little reminder, we love covering the Biglaw bonus season, but we need your help. As soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”). We always keep our sources on bonus stories anonymous. There’s no need to send the memo using your firm email account; your personal email account is fine. Please be sure to include the memo as proof; we like to post complete bonus memos as a service to our readers. You can take a photo of the memo and attach as a picture if you are worried about metadata in a PDF or Word file. Thanks for your help.
Don’t forget, if you’d like to sign up for ATL’s Bonus Alerts, please enter your email address in the box below. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Cheers to a happy bonus season, everyone!
(Flip to the next page to see the full bonus memo from Schulte Roth & Zabel.)
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Staci Zaretsky is an editor at Above the Law. She’d love to hear from you, so feel free to email her with any tips, questions, or comments. You can follow her on Twitter or connect with her on LinkedIn.
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