Willkie Announces Fall Bonuses, Blowing Off Cravath Followers

Finally, we have more good news to share.

After Cravath decided to abdicate its role as Biglaw’s compensation Pied Piper and step away from the Fall appreciation bonus scale set by Davis Polk, every firm to issue a statement since has sheepishly refused to hand out bonuses. The most common statement from these firms amounted to “we’re totally killing it out there and revenues are as high as ever despite unprecedented economic headwinds and we can’t be prouder of the work you’re doing and, just maybe, we’ll reward you for it in March!”

As you might imagine, this is cratering morale at these firms.

From the perspective of the partners, they worry that headlines announcing big paydays for associates while the rest of the country struggles would come across as insensitive. It makes superficial sense until you break it down to “out of sensitivity to the plight of Americans these days, we think that money is better suited in the hands of the millionaire partners than the deeply indebted middle class associates and staff.” That… looks less sensitive.

Willkie Farr considered all this and decided to become the first firm since Cravath’s announcement to follow Davis Polk’s lead and issue Fall bonuses. The Executive Committee informed associates minutes ago that they’d be seeing a little boost to their income in these trying times (and that email is available on the next page):

  • 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

And, of course, the firm stated that it intends to pay its regular annual bonuses as well. Associates have described themselves as “beyond elated.”

It appears as though the Bonus Wars are back on! Keep your eyes on what firms do in the coming days because the pressure is back on to keep up with the Bonus pack.

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What’s The Real Reason Biglaw Firms Are Begging Off Fall Bonuses?


HeadshotJoe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.

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