JD Journal » irell & manella llp

Irell & Manella LLP Announce Bonuses

jim — Fri, 06 Jan 2012 19:19:38 +0000

According to reports on Wednesday, the law firm of Irell & Manella LLP has doubled the bonus value set forth by Cravath Swaine & Moore LLP earlier in December. Irell & Manella LLP is said to have dished out close to $75,000 to its associates.

The 2010 class at Irell will be issued a $15,000 bonus; the 2009 class will be issued a $20,000 bonus; the 2008 class will be issued a $30,000 bonus; the 2007 class will be issued a $40,000 bonus; the 2006 class will be issued a $50,000 bonus; the 2005 class will be issued a $60,000 bonus and the 2004 class will be issued a $75,000 bonus.

The memo sent out to associates at Irell emphasized that the bonuses were double the ones handed out by Cravath.

The Irell firm is not the first law firm to surpass the bonus threshold set by Cravath in December. In the final month of 2011, Fried Frank Shriver & Jacobson LLP said they would top the Cravath scale as they handed out bonuses that had varying amounts reaching a cutoff of $52,500.

Also in December, Quinn Emanuel Urquhart & Sullivan LLP announced that the end of year bonuses it would hand out would also exceed the Cravath pay scale. Their bonuses surpassed the Cravath ones for lawyers who dedicated billable hours over 2,100 during 2011. Bonuses from Quinn Emanuel ranged from $6,375 to $62,000 and they were based on length of time at the firm and how many hours the lawyers worked during the year.

There were plenty of law firms to top the scale set by Cravath in 2011 and those firms are Sullivan & Cromwell LLP, Debevoise & Plimpton LLP, Cleary Gottlieb Steen & Hamilton LLP, Simpson Thacher & Bartlett LLP and Clifford Chance LLP. It was reported that Clifford Chance LLP handed out bonuses worth $42,500 for the 2003 class and older.

The law firm of Kirkland & Ellis LLP handed out bonuses for 2011 that were higher than those issued by Cravath.

Some of the associates at Kirkland who were able to bill hours ranging from 2,250 and 2,350 hours for 2011 reported that they had been issued bonuses almost twice the amount of the Cravath pay scale. There were some associates who worked over 2,700 billable hours who claim they received close to $40,000 for a bonus. This amount would have been four times the amount handed out by Cravath.

The summer bonuses issued by Irell also went above those issued by Cravath in the spring. Irell said back in the month of July that it would issue bonuses of $27,500 to its associates, unrelated to the amount of billable hours worked.

Irell & Manella Doubles Market Rate on Bonuses

joshua — Wed, 06 Jan 2010 12:28:23 +0000

Los Angeles based Irell & Manella gave its associates the good news last week. The firm is paying double the Sullivan & Cromwell scale, which is the Cravath scale with a little boost at the top. There are no performance reviews or subjective criteria, just a minimum number of billed hours. All associates who billed 1900 hours last year got the bonus.

Irell & Manella LLP was founded in 1941 by lawyers Lawrence E. Irell and Arthur Manella, and has grown to 220 lawyers. It has offices in Century City and Newport Beach.

Greenberg Traurig Hires Three for L.A.

Erik Even — Mon, 11 May 2009 22:29:55 +0000

Greenberg Traurig LLP has added three new hires to its Los Angeles office.

Allan J. Abshez joins as shareholder in the Environmental and Land Development Practice groups, where he will continue to work with Elizabeth Camacho, who joins as of counsel. Both come from Irell & Manella LLP.

Cedric T. Chou joins as a shareholder in the Corporate and Securities Practice. Chou was previously a principal and general counsel with NewCap Partners. in the investment banking firm’s Shanghai office.

Greenberg Traurig LLP is an international, full-service law firm with more than 1,800 attorneys and governmental affairs professionals in the US, Europe and Asia. The firm was selected as the 2007 USA Law Firm of the Year by Chambers & Partners.