Legal News

Merry Christmas! Allen & Overy Cuts Associate Bonuses in Half
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Santa is dead.Allen & Overy has announced its year-end bonuses for its US associates, with lawyers seeing half of what they receieved last year.

The Magic Circle firm’s US lawyers will take home a bonus in the range of $17,500 to $32,500.

Last year A&O lawyers took home between $35,000 and $65,000 in a January payout. Associates were also handed a special bonus in December of $10,000 to $50,000, depending on seniority.

  
What
Where


The move mirrors that of rival Clifford Chance , which publicly announced earlier this month that it was cutting its bonuses.

The majority of Wall Street firms this year have decided to halve their bonuses and scrap the additional bonuses paid out in last year’s bonus war.

On Wednesday, Latham & Watkins became the first major law firm to announce that it is freezing associate pay for 2009 at 2008 levels. The firm is one of the most generous with newly-qualified lawyers netting £96,000 ($145,000) in London, while their New York counterparts start at $160,000.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Via Law.com.





 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-Level Commercial Business Litigator

USA-CA-Los Angeles

Los Angeles office is seeking a commercial business litigation attorney with 2-5 years of experience...

Apply Now

Senior Level Litigator

USA-CA-Woodland Hills

Woodland Hills office is seeking a litigation attorney with 5-7 years of experience and a background...

Apply Now

Litigation Associate Attorney

USA-CT-Stamford

Stamford office of our client seeks litigation associate attorney with 3+ years of experience. The c...

Apply Now

Experienced Estate Planning Attorney

USA-CA-Torrance

Torrance office is seeking an estate planning attorney with 7-10 years of experience.

Apply Now

RELEVANT JOBS

Paralegal / Legal Assistant (Criminal Defense Firm)

USA-CA-San Diego

Busy downtown San Diego criminal defense firm seeks paralegal who is experienced in handling client ...

Apply now

Paralegal

USA-UT-Salt Lake City

Our growing law firm is looking for another paralegal to assist with its current caseload. It is exp...

Apply now

Paralegal

USA-NY-Auburn

Plaintiffs\' litigation firm looking for FT experienced paralegal who is familiar with handling pers...

Apply now

Paralegal / Legal Assistant

USA-MO-Springfield

Full-time position available with local law firm. Legal experience of two years is required. Prefere...

Apply now

SEARCH IN ARCHIVE

To Top