Skadden Jumps Into The Spring Bonus Wars
Another Biglaw firm says yes to more special bonuses!
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Welcome to the bonus party, Skadden!
After Willkie Farr started the bonus war by handing out special spring bonuses to have associates share in the firm’s largesse, Davis Polk went over the top with even bigger bonuses. Now Skadden has announced their own spring bonus plans.
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They’re matching the Davis Polk scale, according to the following chart:
Full announcement available on the next page.
They went with June/December disbursements, rather than the earlier April/September some firms are rolling with, but, most importantly, the amount of money remains the same. The firm also clarified, like their peers, this will be in addition to the regular year-end bonuses, which they anticipate will be at least as big as last year’s bonus pool.
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Additionally, the firm noted that if an associate does not meet the hours requirement for the June bonus payment (though that threshold is not disclosed in the email, it’s expected it’ll be in line with the firm’s usual hours requirements), they’ll have an opportunity to garner a make-up payment along with the December bonus.
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.
And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks for all of your help!
Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).
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