Many Firms Match Cravath on Bonuses, Others Increase

As expected, many firms have now matched the associate bonus structure laid out by Cravath, with some adding increases for 8th year associates. Firms that have matched include:

– Proskauer Rose
– Skadden Arps Slate Meagher & Flom
– Shearman & Sterling
– Sullivan & Cromwell (additional merit bonuses in Spring 2012, $42,500 for 8+ year associates)
– Davis Polk & Wardwell ($42,500 for 8+ year associates)
– Milbank Tweed Hadley & McCloy
– Kaye Scholer (match for associates with 1950+ hours, $57,500 for associates with 2400+ hours)
– Weil Gotshal & Manges
– Simpson Thacher & Bartlett ($42,500 for 8+ year associates)
– Cleary Gottlieb Steen & Hamilton ($42,500 for 8+ year associates)
– Debevoise & Plimpton ($42,500 for 8+ year associates)
– Clifford Chance ($42,500 for 8+ year associates)
– Akin Gump Strauss Hauer & Feld (additional merit bonuses in Spring 2012)
– Schulte Roth & Zabel (half to be paid in December, other half in Spring 2012)

Firms that went above and beyond with additional increases include:
– Fried Frank Harris Shriver & Jacobson (up to $52,500)
– Kirkland & Ellis (associates with 2,250-2,350 hours received more than twice the Cravath scale)
– Quinn Emanuel Urquhart & Sullivan (up to $62,000)