In Praise of Partners’ Prudence: Why the Lack of Spring Bonuses May Have Been a Good Thing
Most major law firms didn't pay spring bonuses this year -- and maybe that was a good thing, given the warning signs ahead for Biglaw.
Where My Boies At? Some Wonder About April Bonuses at Boies Schiller
Some associates at Boies Schiller are wondering about missing or smaller April bonus payments. What's going on?
Calculate Your Firm’s Time-Saving Potential
Want more time for what matters most? MyCase streamlines your firm so you can focus on winning cases. See how much time you could save with our Law Firm Time Savings Calculator—try it now!
Today Is ‘International Be Kind to Lawyers Day’ — So How ‘Bout Those Spring Bonuses?
It's International Be Kind to Lawyers Day, and the best way to be kind to lawyers in Biglaw is to show them the money. That being said, where are the spring bonuses?
Sullivan & Cromwell Will Pay Spring Bonuses — But Will They Be Too Small To Be Worth Matching?
Sullivan & Cromwell plans to pay spring bonuses, but how big will they be? Big enough to require matching from other firms?
Spring Bonuses at Cravath?
Are Cravath associates now getting spring bonuses? What gives?
Show Them the Money: Where Are the Spring Bonuses?
Today is March 1. By this time last year, about a dozen firms had announced spring bonuses, as you can see from our prior coverage. This year? Crickets. What's going on?
Best Practices In Trust Accounting: What Every Lawyer Needs To Know
Learn legal trust accounting best practices to ensure compliance and protect client funds. Discover expert tips to set your firm up for success.
Spring Bonuses? Anybody? The Silence Isn’t Funny Anymore.
Last year, Sullivan & Cromwell announced spring bonuses on January 21st. Today is February 3rd. It might be time to panic. The conceit of this entire bonus season has been that the ridiculously low bonuses bar set by Cravath, Swaine & Moore was just an opening figure. People really didn't expect that Cravath would halve bonuses. Because really, it's CSM. They can count. Their profits went up. Why would they pay out 50% less than last year? Well, we guess the answer "because they can" is going to have to be enough for Biglaw associates everywhere....
Is the Legal Recession Finally Ending?
At the start of this new year, what is the outlook like for legal employment? There's certainly a fair amount of bad news out there, particularly for recent law school graduates. But what about for denizens of Biglaw, the lawyers fortunate (or unfortunate) enough to work at the nation's largest law firms? What does 2012 hold for them? Earlier this month, Elie made some predictions for the legal profession. Lat will follow in his footsteps and venture some prophecies of his own for the year....
What Do Cravath Partners Say About The Bonuses To Other Biglaw Partners When They <em>Think</em> Nobody Is Listening?
A tipster let us in on an overheard conversation between Cravath partner Susan Webster and a Biglaw partner at a different firm. When we contacted her, Webster told us that the tipster mischaracterized the nature of her accidentally public conversation. But why don't you take a look, and prepare yourself for the possibility of a very sad spring....
Associate Bonus Watch: Sullivan & Cromwell ‘Beats’ Cravath — and Promises Spring Bonuses
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....
4 Ways That Lexis® Create+ Delivers Personalized Legal Drafting
Lexis Create+ merges legacy drafting tools with AI-powered assistance from Protégé and secure DMS integration enabled by the Henchman acquisition.
Associate Bonus Watch: Milbank Matches — or Beats? — Cravath and Skadden
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....
Associate Bonus Watch: Skadden Matches Cravath
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....
Biglaw Starts To Manage Expectations About Bonuses
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....
Quote of the Day: Making It Rain Makes No Common Cents
There was no rational foundation to do [the spring bonuses]. It was not as if suddenly all the law firms in The Am Law 100 were minting money. — Ralph Baxter, longtime chairman and CEO of Orrick (shortly before he was overheard screaming at the Wheeling career associates to mint more money).
Associate Bonus Watch: Irell Announces Mid-Year Bonuses
Law firm bonus news keeps on coming. The latest windfalls are being paid out by Irell & Manella, which just announced "mid-year bonuses."