Now in Legal Rebels:
Posted Apr 27, 2012 04:17 pm CDT
Sullivan & Cromwell is reportedly paying spring bonuses that are quite small by BigLaw standards.
The bonuses range from $1,000 for the class of 2011 to $5,000 for the class of 2006, Above the Law reports. A Sullivan & Cromwell spokesperson did not immediately return the ABA Journal’s calls seeking confirmation.
Sullivan & Cromwell had said in a December memo that it expected to give out spring bonuses. Above the Law was unimpressed with the outcome. “This isn’t a bonus, it’s a tip,” the blog says. “For BigLaw partners, this is spare change.”
In March, the Am Law Daily called 21 law firms, including Sullivan & Cromwell, to inquire about spring bonus plans. They either declined to comment on the record or did not reply.