The BigLaw spring bonus watch has involved a whole lot of looking at nothing lately, which is pretty dull. So thanks, Skadden and Davis Polk, for giving us some big, fat dollar signs to stare at today. Above the Law is reporting that both firms will be following the spring bonus scale set forth by Cravath rather than Sullivan’s scale (which offers lower bonuses to midlevel associates).
Interestingly, per an email sent to Skadden’s partners this morning, the firm was planning to pay junior and senior associates bonuses in line with the market but to offer midlevel-bonuses somewhere in between Sullivan’s and Cravath’s scales. But by 12:30 pm today, the firm had changed its mind, announcing bonuses matching the Cravath scale. Was this about-face in response to Davis Polk’s mid-morning bonus announcement? I don’t know . . . but does it matter? The Cravath scale is on. Who else wants in?
Above the Law post on David Polk spring bonuses
Above the Law post on Skadden spring bonuses
Cravath One-Ups Sullivan with Higher Spring Bonuses for Mid-Level & Senior Associates
Two BigLaw Firms are Showing the Bonus Money: Sullivan and Latham Pay Up
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