Associate Bonus Watch: The Next Big Player Makes Its Move
It's a good day in Biglaw.
You knew this was coming. After Cravath announced its 2017 bonus structure shortly after 3 p.m. Eastern today, you knew it was only a matter of time — but not too much time, natch — before Paul, Weiss ponied up. (Keeping in line with previous years, the firm announced its bonuses less than two hours after Cravath set the standard.) Congratulations Paul, Weiss associates, you got what (the market dictates) you deserve.
For those who haven’t been following along with the details of this year’s market bonuses, well… they’re the same as last year… and the year before that, and well, you get the picture.
If you don’t have those numbers tattooed in your mind, here they are:
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Class of 2017 — $15,000 (pro-rated)
Class of 2016 — $15,000
Class of 2015 — $25,000
Class of 2014 — $50,000
Class of 2013 — $65,000
Class of 2012 — $80,000
Class of 2011 — $90,000
Class of 2010 — $100,000
Class of 2009 — $100,000
Paul, Weiss associates will pay their associate bonuses by December 22nd.
So, Paul, Weiss associates, how do these dollars stack up? Sure, with the great associate pay raise of 2016 you’re getting more than you used to, but the bonus stagnation over the years has certainly left others at big firms frustrated.
Please help us help you when it comes to bonus news at other firms. As soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”) or text (646-820-8477), or tweet (@ATLblog). We always keep our sources anonymous — and that includes our sources for bonus stories. There’s no need to send the memo using your firm email account; your personal email account is fine. Please be sure to include the memo as proof; we like to post complete bonus memos as a service to our readers. You can take a photo of the memo and attach as a picture if you are worried about metadata in a PDF or Word file. Thanks for your help.
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Read the full memo on the next page.
Kathryn Rubino is an editor at Above the Law. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).
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