Simpson Thacher Enters The 2021 Special Bonus Wars Scene
This compensation leader doesn't want to be outdone by anyone.
Biglaw special bonuses keep rolling on in, and it’s a big bash with all of the usual suspects in attendance. Willkie got the party started, and when Davis Polk arrived, the bass dropped, and everyone else came rushing in to celebrate. Thus far, six firms have matched the prevailing special bonus scale. Who’s up next to make it rain on associates?
It’s Simpson Thacher, and the firm is offering up the following bonuses (full memo on the next page):
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Simpson giveth with one hand and taketh away with the other. What do we mean by that? Payments for associates will be made on June 30 and September 30, on a global basis. Yay! Counsel and senior counsel won’t see any extra bonus cash until year’s end, on a case-by-case basis. Ouch. Hopefully the firm will be just as generous with its counsel as its associates.
P.S. In case you’re wondering where Cravath’s special bonus money is… so are we. Is the prestigious firm planning to somehow come over the top? We suppose we’ll have to wait and see, but we feel like a match is imminent.
(Flip to the next page to see the full memo from Simpson Thacher.)
Remember everyone, we depend on your tips to stay on top of important bonus updates, so when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). 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.
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