Read carefully, because Kaye Scholer is hoping you won't. The firm announced a match of the Cravath regular bonus from this season. And a match of the Cravath spring bonus from last season. But that has nothing to do with this season's spring bonus, which Sullivan & Cromwell alluded to. Keeping you apprised of the latest bonus shenanigans is what Above the Law is here for....
Sullivan & Cromwell has shown up to Bigfoot the partnership of Cravath -- sort of. It has announced a year-end bonus scale that is very similar to, but slightly better than, the Cravath bonus scale. And, more importantly, it has promised spring bonuses. Let's get into the specifics....
Legal work isn’t slowing down, and the firms that win won’t be the ones working harder — they’ll be the ones working smarter.
After yesterday’s excitement over the Boies Schiller bonuses, we’re back to the Cravath scale. Today Weil Gotshal came out with its year-end bonuses. The firm is matching Cravath. Our sources report the Weil scale starts at $7,500 for full first-year associates — no stub-year bonus for the class of 2011, like at Milbank — and […]
Cravath is among the most profitable firms in the world. We thought it would be interesting to see what the implications of matching Cravath are for those firms with much lower profit margins. Which firms’ partners willingly take the biggest hit by keeping up? Are these firms arguably more “generous”? After the jump, check out those firms that pay the largest percentage of PPP in bonuses....
The first firm to make Cravath associates feel impoverished this season appears to be Boies Schiller. Yep, the house that David Boies built is once again paying money to its people like bonuses are a reward for hard work. But some say the payouts don't appear to be quite as generous as last year. Others disagree. But you really don't have to try that hard to beat Cravath anymore...
As they say in the Pokémon movie, you gotta catch 'em all. That's how we approach bonus news here at Above the Law. We've heard some rumblings about some big, Cravath topping bonuses at a well known shop, but for now, we've got a standard Cravath match. Shearman & Sterling, come on down. You're on "The Price Is Meh"...
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Let's keep the bonus news rolling. On Friday, our sources reported that Proskauer Rose matched the Cravath 2011 bonus scale. We now have the official firm memo. Apparently this news is likely to anger many Proskauer associates. Given that fact, we're not exactly sure why the firm was eager to be one of the early adopters of Cravath's bonus scale....
Perhaps you’ve already heard that Cravath announced its 2011 bonus scale on Monday (swiftly followed by Skadden and Milbank), and apparently it’s 2009 all over again. We can’t help but wonder if this bonus season’s dyspepsia is typical of lawyers and law students generally....
Milbank Tweed matched the Cravath bonus scale for 2011. But wait -- did Milbank perhaps beat the Cravath and Skadden bonus scales? Let's look at the details of the Milbank bonus announcement....
No surprises here: Skadden has matched the 2011 Cravath bonus scale. Given the sheer size of Skadden, in terms of attorney headcount, this announcement directly affects the pocketbooks of more lawyers than the Cravath news. Let's look at the memo, along with reactions from SASMF associates....
LexisNexis sat down with John Ursin, Managing Partner at Schenck Price, to learn how the firm is using legal AI to strengthen client service and daily legal work.
It took a little longer than most of you expected, but Cravath, Swaine & Moore just announced its 2011 associate bonuses. Barring something very unforeseen, these bonuses are what many Biglaw firms, in New York and across the land, will pay out this year to their people. Historically Cravath has set the market with respect to year-end associate bonuses at major law firms. Let's take a look at the official memorandum, and engage in some analysis....
On Friday, our new Breaking Media research guru Brian Dalton started running a poll asking you, our readers, when you thought the bonuses would start flowing. It'll be an interesting test case to rate the predictive power of Biglaw reader groupthink. The numbers say that you expect bonuses to drop any minute now....
Last year, on November 17th, we asked where the Biglaw bonuses were. Cravath announced five days later. So if the firms are waiting for a personal invitation to announce their 2011 bonus payments, they should feel free to RSVP to this post. We're ready for the bonuses now....
The first bit of bonus news has leaked out of Biglaw. We're not talking about spring bonuses, and we're not talking about random mid-year bonuses. We're talking about regular, end-of-the-year, take-it-to-the-champagne-room bonuses. And sure, the early news is bad, but that's to be expected. This first report is just what Biglaw wants you to hear. But if the past year in bonus news proves anything, it's that Cravath sets the bonus market, even when they do it late....
Law firm bonus news keeps on coming. The latest windfalls are being paid out by Irell & Manella, which just announced "mid-year bonuses."