Biglaw Firm Goes Over The Top Of Market Bonuses
They'll see your market bonus and raise you a special bonus.
The bonus scale that Cravath set last month is a very nice, generous end of the year bonus. Associates around the country are grateful their firms feel the need to meet that standard. But one Biglaw firm has just announced that in addition to the (admittedly expected) end of the year bonuses, they are also offering special bonuses.
Cahill Gordon & Reindel is the firm in question. They have a history of giving out special bonuses, and this year is no different. They are offering an additional $10,000 – $50,000, depending on class year, on top of their regular bonuses, which match the Cravath scale.
In an email to all attorneys, firm executive director Michael Colpo said the extra moola was a thank you for the hard work of 2017:
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The special bonuses are being awarded to attorneys for outstanding effort and performance in 2017. Both the special bonuses and the regular bonuses will be paid to associates who are in good standing in their classes. In general, part-time associates and associates who have been with the Firm less than the full year will receive adjusted amounts of the bonuses.
Special bonuses will be paid on January 5th, and the regular bonuses at the end of January. It might be annoying to wait until 2018 for bonus money, but the extra cash certainly makes up for it.
So how’s all this money treating you Cahill people? Feel free to sound off by email, by text message (646-820-8477), or by tweet (@ATLblog). A fun or insightful response — we’ll keep you anonymous — could find its way into an update to this story.
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 us (646-820-8477). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.
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(Read the full memo on the next page.)
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