Pillsbury’s first year associates outside of New York are receiving a salary cut, down to $145k. Any first year that bills in excess of 1950 hours will receive an additional $15k bonus. First years in the New York office will continue to receive $160k. Salaries for 2010 have not yet been set and for [...]
Continue reading...Monday, January 4, 2010
At the start of 2009 Arnold & Porter announced that it was freezing salaries but held out the hope that some or all of the difference might be paid out later if economic situations warranted. At the end of December a firm wide memo went out in which Arnold & Porter announced that all [...]
Continue reading...Thursday, December 10, 2009
Two more firms have announced bonus schedules. Fried Frank’s bonuses for New York associates look and feel a lot like the Sullivan & Cromwell bonuses, which were of course a very slight modification to the Cravat scale most firms have been using. Boies Schiller & Flexner, however, is paying bonuses well above the [...]
Continue reading...Friday, December 4, 2009
Up until this week, the scale for bonuses seemed pretty set in stone with every firm falling in lockstep with Cravath. But earlier this week Sullivan & Cromwell dared to be different. Of course, it’s only different if you’re a senior associate in which case you’ll get an extra $5000, small consolation for [...]
Continue reading...Wednesday, November 25, 2009
Davis Polk has announced its year end bonus schedule and, surprise!, it looks all too familiar. Yup, it matches the bonuses put out by Cravath, which match the bonuses of every biglaw firm to announce bonuses in the days after Cravath set the bar. New associates are receiving $7500, with seniors making $30,000 [...]
Continue reading...Friday, November 20, 2009
Was everyone waiting to see what Skadden would do? Now that Skadden has fallen in line, it looks as though everyone else Is going to play ball too. Today, Willkie Farr and Simpson Thatcher & Bartlett both announced their bonus schedules and they’re a match for Cravath. New associates will get $7500 [...]
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Thursday, January 7, 2010
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