If the 2021 bonus season has appeared a little bit sluggish, properly there was good purpose. Sure, Cravath introduced some fairly beneficiant bonuses, however some companies <<cough Davis Polk, cough cough>> have a penchant for coming excessive of introduced bonus (and lift) scales, sending the Biglaw market right into a tizzy. So, ready till Davis Polk & Wardell makes their bonus announcement appears, properly, prudent — and Biglaw is nothing if not prudent.
Nicely, the justifications are over as a result of DPW has made their transfer. And, after all, it’s excessive of the Cravath scale.
To be clear the year-end bonus quantity matches the Cravath scale, a hefty ~15 % over final 12 months’s bonus numbers for many lessons. However what units DPW aside (at the very least till the matches begin rolling in) is the extra spherical of particular bonuses for sophistication of 2020 and better starting from $4,000 to $23,000.
Properly performed DPW.
The complete memo is obtainable on the subsequent web page.
Bear 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 embrace the memo if obtainable. You’ll be able to take a photograph of the memo and ship it by way of textual content or e mail when you don’t need to ahead the unique PDF or Phrase file.
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Kathryn Rubino is a Senior Editor at Above the Legislation, host of The Jabot podcast, and co-host of Pondering Like A Lawyer. AtL tipsters are one of the best, so please join along with her. Be happy to e mail her with any suggestions, questions, or feedback and comply with her on Twitter (@Kathryn1).
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