Simpson Thacher Gets Early Start On BigLaw Bonuses
November 26, 2014
Before the Thanksgiving turkeys have even thawed, law firm Simpson Thacher announced its scale for 2014 associate bonuses, upending the traditional schedule of Cravath releasing its plans first, usually in early December. The scale was up “significantly” from last year, ATL reports, with bonuses ranged from $15,000 for rookie lawyers to $100,000 for lawyers with seven or more years of experience. Skadden plans to give associates even more, up to $110,000. “STP decided to jump the gun and become a leader in associate compensation again,” ATL says, an assertion bolstered by high-profile sports firm Proskauer indicating it will adhere to Simpson Thacher’s scale.
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