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)