Cash, cash, cash, and far more cash: That appears to be the theme this week all through Biglaw, as bonus bulletins are made one after the opposite, advert infinitum, within the wake of Davis Polk’s Cravath match with the addition of particular bonuses for all associates. That is now the brand new market bonus normal, and legislation companies are rapidly lining as much as make their matches. In any case, this lateral market continues to be sizzling like fireplace, so companies must show that they’re as much as snuff — and quick.
The most recent agency to talk up on bonuses is Shearman & Sterling, which made its announcement simply earlier than 6 p.m. final night time. In fact the agency matched market, and right here’s the 2021 bonus scale, in case you’ve forgotten what it seems to be like:
David J. Beveridge, the agency’s senior companion, famous in his memo that Shearman’s counsel are “essential,” and that whereas their bonuses are extra individualized, they might be in step with the market. (Talking of counsel, how is your agency dealing with bonuses for these attorneys? Please get in contact with us and tell us.)
Everybody on the agency will obtain their bonuses on December 22. Congratulations!
(Flip to the following web page to learn the complete memo from Shearman & Sterling.)
Keep in mind everybody, we rely in your tricks to keep on high of vital bonus updates, so when your agency matches, please textual content us (646-820-8477) or e mail us (topic line: “[Firm Name] Matches”). Please embody the memo if out there. You may take a photograph of the memo and ship it through textual content or e mail when you don’t wish to ahead the unique PDF or Phrase file.
And when you’d like to enroll in ATL’s Bonus Alerts (which is the alert checklist we additionally use for wage bulletins), please scroll down and enter your e mail tackle within the field beneath this put up. If you happen to beforehand signed up for the bonus alerts, you don’t must do something. You’ll obtain an e mail notification inside minutes of every bonus announcement that we publish. Thanks for all your assist!
Staci Zaretsky is a senior editor at Above the Regulation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to e mail her with any suggestions, questions, feedback, or critiques. You may observe her on Twitter or join together with her on LinkedIn.
Enter your e mail tackle to enroll in ATL’s Bonus & Wage Improve Alerts.