First Major Biglaw Firm Matches The 2020 Cravath Bonus Scale
It's bonus time at this leading law firm!
PAUL WEISS – 2020 BONUS MEMO
Dear Counsel and Associates:
The past nine months have been unimaginably daunting for us all, as we have simultaneously confronted the new reality of working remotely in the face of a global pandemic, a long overdue racial justice reckoning, and perhaps the most divisive and consequential election in our nation’s history. I know that many of you have encountered significant personal and professional challenges over the past many months.
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Thanks in very large part to your dedication and unprecedented contributions, the firm has been extraordinarily busy across our practices. While we have performed seamlessly on behalf of our clients, I am particularly proud of the fact that we have nearly doubled last year’s record-breaking pro bono hours. In the face of unimaginable challenges, we have deepened our historical legacy of community and pro bono engagement and made the world a better, safer and more just place.
As I told you at the outset of this pandemic in March, I believe that adversity reveals one’s character and that I hoped we would be able to look back and take great pride in how we responded to the crises of 2020 and how we treated each other, our staff, our clients and our community. I have never been more proud of our law firm. Our values and commitment, and the work of our supremely talented and dedicated lawyers, have been exemplary throughout this turbulent year.
On behalf of my partners, I thank you for all you have done for our clients and our communities.
In addition to the regular year-end bonus, we are pleased to announce you will also be receiving a special 2020 bonus.
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Below is our schedule of 2020 associate regular bonuses and the 2020 special bonus, broken out by class year:
Class Year | Year-End Bonus | Special Bonus |
2020 | $15,000 (prorated) | $7,500 (prorated) |
2019 | $15,000 | $7,500 |
2018 | $25,000 | $10,000 |
2017 | $50,000 | $20,000 |
2016 | $65,000 | $27,500 |
2015 | $80,000 | $32,500 |
2014 | $90,000 | $37,000 |
2013 and senior | $100,000 | $40,000 |
Counsel bonuses will be announced separately. All bonuses will be paid on December 18, 2020.
I wish each of you and your loved ones a safe, peaceful and healthy holiday season.
Brad
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Brad S. Karp | Chairman
Paul, Weiss, Rifkind, Wharton & Garrison LLP
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.