Law Firms
Skadden Jumps on the Bonus Bandwagon
By Debra Cassens Weiss
Nov 20, 2009, 07:25 am CDT
Skadden, Arps, Slate, Meagher & Flom has announced its associate bonuses, and they match the lower amounts being paid at two other law firms.
Associate bonuses at Skadden will range from $7,500 to $30,000, according to the Wall Street Journal Law Blog, the American Lawyer and Above the Law. Last year, Skadden paid bonuses that ranged from $35,000 to $60,000.
Cravath was the first to announce lower associate bonuses that range from $7,500 to $30,000. Cleary Gottlieb Steen & Hamilton followed with the same bonuses.
“The market appears to be set,” says the American Lawyer.