The US bonus season, usually led by Cravath Swaine & Moore, has this year seen Simpson Thacher & Bartlett kick-start the process ahead of the traditional schedule, and set a very high bar for the rest of the American elite firms.
Simpson awarded $15,000 in bonus to its junior associates increasing to $100,000 for the more senior ranks, with the firm’s midlevel and senior associates seeing the biggest increases from last year. Traditional market leader to unveil bonuses Cravath, Swaine & Moore followed suit and matched Simpson Thacher’ bonus scales for each associate level.
However, breaking the mould so far are Skadden Arps Slate Meagher & Flom and Davis Polk Wardwell who have awarded their associates more generously. While Skadden Arps pretty much matched Simpson Thacher’s bonuses, it has awarded certain associates in classes of 2007 bonus amounts of $110,000 in recognition of outstanding performance. All bonuses are expected be paid out on 19 December.
Davis Polk on the other hand, has matched Simpson Thacher’s bonus range of $15,000 to $100,000, but has awarded $5,000 more for its 2008 class, and $10,000 for its 2009, 2010 and 2011 class.
The bonus scales revealed so far are understood to be:
Simpson Thacher:
2014: $15,000
2013: $15,000
2012: $25,000
2011: $40,000
2010: $55,000
2009: $70,000
2008: $85,000
2007: $100,000
Cravath:
2014: $15,000
2013: $15,000
2012: $25,000
2011: $40,000
2010: $55,000
2009: $70,000
2008: $85,000
2007: $100,000
Skadden Arps:
2014: $15,000
2013: $15,000
2012: $25,000
2011: $40,000
2010: $55,000
2009: $70,000
2008: $85,000
2007: $100,000 – $110,000
Davis Polk:
2014: $15,000
2013: $15,000
2012: $25,000
2011: $50,000
2010: $65,000
2009: $80,000
2008: $90,000
2007: $100,000
jaishree.kalia@legalease.co.uk
