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Skadden Jumps on the Bonus Bandwagon

Posted Nov 20, 2009 7:25 AM CDT
By Debra Cassens Weiss

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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.

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