Home

Shearman & Sterling Matches Cravath Swaine & Moore Bonus Schedule
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Shearman & Sterling LLP is slated to sustain a precedent set by fellow law firm Cravath Swaine & Moore LLP. Like Cravath Swaine & Moore, Shearman & Sterling plans to reward associates—from seventh-year on—with year-end bonuses of $37,500, according to Law360.com.

Ron Brandsdorfer, Shearman & Sterling spokesman, confirmed its bonus plans Tuesday. Apparently, newer associates won’t be shortchanged.

  
What
Where


First-year associates will receive $7,500; second-year associates are slated to get $10,000; third-year associates will receive $15,000; fourth-year associates will get $20,000; fifth year associates will get $25,000; and sixth-year associates are expected to receive $30,000.

Abovethelaw.com reports the bonuses will be paid on Jan. 13, according to some of its readers.

New York-based Shearman & Sterling first- and second-year associates earn, on average, between $160,000 and $168,000 a year, according to glassdoor.com. The website notes that salaries are posted anonymously by both employees and employers.

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!!




Cravath Swaine & Moore should expect their bonus on Dec. 9, according to a firm memo. That memo was featured on WSJ’s Law Blog. In order to be eligible, associates must have been with the firm before Sept. 1 and still with Cravath Swaine & Moore when bonuses are distributed.

Billable hours don’t impact eligibility. Part-time associates will receive pro-rated bonuses. Bonus eligibility of senior attorneys, specialist attorneys, discovery specialist attorneys and foreign associate attorneys will be decided on a case-by-case basis.



Cravath Swaine & Moore’s bonus schedule is eerily similar to Shearman & Sterling’s. Bonuses top out at $37,500. First-year associates receive $7,500; second-year associates receive $10,000; third-year associates get $15,000; fourth-year associates receive $20,000; fifth-year associates receive $25,000; and sixth-year associates get $30,000.

A first-year associate earns, on average, $160,000 per year, while a second-year associate earns between $150,000 and $170,000 a year, according to glassdoor.com. A third-year associate earns an average of $179,000 to $191,000, while a fifth-year associate earns, on average, about $195,000.

Unlike their American counterparts, Canadian lawyers at major firms won’t see big bonuses, Legal Post reports. Bonuses in 2010 are unlikely to match bonus this year. With that said, first-year associates are seeing their salaries increase.

The Robert Half Legal 2012 Salary Guide believes those increases won’t be high for first-year associates. They’re expected to rise only 0.4 percent in 2012 to a range between $82,000 and $89,500 at large law firms, defined as having more than 75 lawyers.

“The large firms were extremely busy at this time last year — as busy as they have been at year’s end for quite a long time  — so they went into 2011 with a fair bit of confidence regarding hiring patterns and compensation,” says Dal Bhathal, managing director, Eastern Canada for The Counsel Network, a legal recruitment firm.

Associates with one to three years’ experience could see their salaries rise 1.3 percent—ranging from $87,000 and $119,500.

More experienced lawyers can anticipate bigger salary bumps. Lawyers with four to 12 years’ experience could see their salaries rise about 3 percent, ranging between $87,000 and $119,500, also according to Financial Post.



 

RELEVANT JOBS

Associate Attorney

USA-CA-Chino Hills

The Paris Firm is seeking a Personal Injury Associate Attorney for a full-time position. Position...

Apply now

Legal Assistant

USA-WV-Martinsburg

The Legal Assistant works with clients, realtors, and lenders to prepare for closing. They are respo...

Apply now

Litigation Paralegal

USA-GA-Lawrenceville

Boutique law firm in Lawrenceville is currently seeking a QUALIFIED applicant to fill the position o...

Apply now

Paralegal / Legal Assistant

USA-CA-Los Angeles

Plaintiff personal injury firm needs person to draft complaints, pleadings, answer rogs, set arbs, r...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Litigation Attorney

USA-TX-San Antonio

San Antonio office of our client seeks litigation attorney with 5+ years of insurance and 3rd party ...

Apply Now

Construction Litigation Attorney

USA-OR-Portland

Portland office of a BCG Attorney Search Top Ranked Law Firm seeks mid-level construction litigation...

Apply Now

Senior Transactional Counsel

USA-CA-Long Beach

Long Beach office of our client seeks senior counsel with 10+ years of experience. The candidate wil...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top