Biglaw

Another Elite Firm Matches New Special Bonus Scale

We're bringing the whole gang into this special bonus job.

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Bonus season in Biglaw is a lot like a heist movie. One character gets a crazy idea. But, for whatever reason, it doesn’t quite work out for them. They’re just not ready to tackle this alone. Enter the older and wiser character who explains that this is going to have to be a much bigger job. Then the next act involves the newly appointed leader going around and visiting the old crew to bring them back for one last score. After initial pushback, accompanied by saying something like, “I’m getting too old for this,” one by one the crew responds, “You son of a bitch, I’m in!”

Willkie Farr took the first shot with a $7,500-$40,000 special bonus. Davis Polk came in and raised the stakes to $12,000-$64,000 spread over two payout dates. And since then it’s been a non-stop parade of top firms declaring, in deeds if not words, “You son of a bitch, I’m in.”

Just last night we got Cleary and Paul Weiss… so obviously Debevoise wasn’t far behind with another Wednesday evening announcement. But with a twist!

Yes, Debevoise is joining Skadden in offering equal distributions instead of weighting the bonus toward the latter date. Though unlike Skadden, who paid out the back end in December, Debevoise is pushing that latter payout date up to September.

Congratulations everyone. Can’t wait for the annual bonus sequel… maybe some time around Thanksgiving?

Full memo on the next page.

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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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