In an earlier round-up on spring bonus stragglers, we talked about Latham & Watkins, Kirkland & Ellis, and Quinn Emanuel. Latham and Kirkland made spring bonus announcements a short while after our post, and now Quinn Emanuel is following suit. Actually, not “following” — depending on how hard they work, QE associates can beat the […]
On Friday, the firm of Mayer Brown announced supplemental bonuses for its U.S.-based associates (a few hours before Quinn Emanuel, which we’ll write up on Monday; we try to limit weekend writing because so few of you are around to read it). Mayer Brown is using the Cravath spring bonus scale (shocker). The bonuses will […]
Legal and operational leaders are gathering May 6–7 in Fort Lauderdale to confront the questions the industry hasn't answered—with a keynote from Amanda Knox setting the tone.
What’s going on over at Orrick? Spring bonuses, that’s what — but with a twist. As we’ve noted before, Orrick remains committed to merit-based compensation, even though some other firms that started moving away from lockstep have returned to it. Orrick’s approach to spring bonuses reflects the meritocratic orientation of its compensation. Let’s have a […]
The law firm of Cromwell & Goodwin might be fake, but the law firm of Goodwin Procter is very real. As is the news of spring bonuses at the firm. Whoops, sorry — make that “special bonuses.” That’s the terminology used by Goodwin Procter to refer to the supplemental payments. Let’s look at the memo […]
There’s lots of good news these days over at Dechert. For example, as we mentioned last week, the firm is launching a new Los Angeles office, built around a group of lateral partners lured over from Orrick. This morning brings good news for Dechert associates and counsel as well. The firm just announced Cravath-level spring […]
Over the past few weeks, as springtime bonus news trickled in, we heard from a few associates at Bingham McCutchen. The exact wording varied, but their messages all sounded the same theme: Shouldn’t one of the best places to work offer one of the best pay packages? Or at least a pay package consistent with […]
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Let’s all take a deep breath. Associate bonus season, which usually wraps up sometime in January, looks like it’s been extended well into April. This is just more proof that Biglaw firms don’t actually collude. No rational business person would want to be making decisions in April 2011 about how much to pay employees for […]
Wow, it’s like White & Case’s attempt to glom on to the spring bonus trend just ticked off these other firms. First Sidley and now Morrison & Foerster have come out with real spring bonus announcements, detailing the amount of money associates can expect to get paid. We’re running off to the We Know What […]
Well, Sidley Austin turned that around more quickly than I thought. Last night I pointed out that any further delay from Sidley Austin regarding spring bonuses would just be causing pain and anguish for Sidley associates for no reason. The firm was going to have to match anyway, so why drag it out? Well, today […]
Two months ago, when spring bonuses were new and fresh and exciting, we reported on spring bonus deliberations at Cadwalader (which eventually matched the market). At the time, I wrote: “If Cadwalader jumps into the spring bonus pool, we’re going to have to start asking questions about Paul Weiss, Willkie Farr, White & Case (don’t […]
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On Friday we noted that Gibson Dunn associates can read. Today it looks like management at Gibson Dunn finally acknowledged the writing on the wall. After a year of record-setting profits, Gibson Dunn finally decided to match the spring bonus market. The firm will be paying Cravath-level spring bonuses to eligible associates, on April 29. […]
Every day that major law firms do not announce spring bonuses makes them look like below-market, “non-peer” institutions. It has become very clear that firms claiming to pay market compensation need to be providing spring bonuses. The latest firm to yield to market realities is Hogan Lovells. The relatively new Ho-Love, formed by the merger […]
Well, Gibson Dunn, it’s come to this. You’ve made your associates so desperate and confused that they don’t know where the sun even rises anymore. They want a spring bonus. They’ve read about spring bonuses at Latham and O’Melveny and think that they should be making as much as their colleagues at peer firms. Gibson […]
In its recent obituary for Warren Christopher, former U.S. Secretary of State and former senior partner at O’Melveny & Myers, the New York Times referred to O’Melveny as “the most traditional and prestigious of Los Angeles law firms.” Well, if you want to be one of the “most prestigious” Los Angeles law firms — or […]
On Friday, Ropes & Gray and Latham announced spring bonuses. This morning we heard from Kirkland & Ellis. Firms are finally getting the message: spring bonuses are what big firms are doing this year. So let’s keep the good times rolling. Earlier today, Proskauer Rose announced that it would be joining the spring bonus mania. […]