Sullivan & Cromwell Makes A Move In COVID-19 Bonus War
Associates will get a nice monetary thank you from the firm -- but when?
(Image via Getty)
Another elite Biglaw firm bites the dust when it comes to the COVID-19 bonus wars. After waiting a week to see how this would play out, Sullivan & Cromwell has entered the scene. Is another immediate match afoot, or is the prestigious firm going to pull a Kirkland?
Before we get to that, in case you need a little refresher on special fall bonuses, first came Cooley, which started the COVID appreciation bonus game in the first place. Next came Davis Polk, which blew the Cooley scale out of the water, and other firms matched it one by one (like Milbank, Irell, and Hueston Hennigan).
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And now the news you’ve been waiting for. SullCrom’s black bonus box has been smashed open, and it looks like the firm will be matching DPW’s generous scale:
- Class of 2019: $7,500
- Class of 2018: $10,000
- Class of 2017: $20,000
- Class of 2016: $27,500
- Class of 2015: $32,500
- Class of 2014: $37,000
- Class of 2013: $40,000
Here’s the memo that associates received today from chair Joe Shenker:
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Several sources have pointed out that SullCrom hasn’t committed to announcing that its 2020 year-end bonuses will at least be as large as the firm’s 2019 year-end bonuses. We’ll have to wait and see on this one, but it’s likely that the firm will ante up when the time comes if they’re willing to hand out special bonuses now.
As noted above, SullCrom’s special bonuses will be paid out on October 15.
Please help us help you when it comes to bonus news at other firms. As soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”) or text us (646-820-8477). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.
