Business of Law
Dechert Bonuses for ‘Reasonably Busy’ Associates Range from $7,500 to $30,000
Posted Jan 5, 2010 1:11 PM CST
By Martha Neil
Although they have decreased a bit since last year, still-hefty bonuses have been promised by Dechert to associates who were productive in 2009.
In a memo yesterday, Chairman Barton Winokur announced that bonuses would be paid Feb. 1 to associates "who were reasonably busy during 2009 and who were evaluated as performing well and progressing in accordance with the firm's expectations," reports the Legal Intelligencer.
The standard amounts are $7,500 for the class of 2008; $10,000 for the class of 2007; $15,000 for the class of 2006; $20,000 for the class of 2005; $25,000 for the class of 2004; and $30,000 for the class of 2003 and associates with more seniority, the legal publication reports.
That compares to 2008 bonuses ranging from $17,500 for the class of 2007 to $32,500 for the class of 2000.
Associates who were stellar performers in 2009 may get even bigger bucks, the article notes.
Above the Law: "Associate Bonus Watch: Irell & Manella Pays Twice S&C"
Updated at 7 p.m. to link to subsequent Above the Law post.