It’s formally bonus season, which is probably the most superb time of the 12 months so far as Biglaw mates are involved. Now that companies are stepping as much as the plate to compare Milbank’s year-end bonuses and particular bonuses, legal professionals have much more to be glad about this 12 months.
The newest company to announce bonuses is Skadden Arps, which introduced in $3,270,091,000 gross earnings in 2023, placing it at No. 5 at the Am Regulation 100. The elite company is after all matching the beneficiant Milbank bonus scale, however is providing additional cash for its maximum skilled mates — one thing that different companies might wish to get started doing to acknowledge their extremely laborious paintings. That mentioned, right here’s what bonuses seems like on the Skadden:
Magnificence Yr
Bonus*
December Particular Bonus*
2017 & Sr.
$115,000 or $125,000
$25,000
2018
$105,000 or $115,000
$25,000
2019
$90,000
$25,000
2020
$75,000
$20,000
2021
$57,500
$15,000
2022
$30,000
$10,000
2023
$20,000
$6,000
2024
$15,000
$6,000
Congratulations to everybody at Skadden!
(Turn to the following web page to learn the entire memo from the company.)
Bear in mind everybody, we rely on your tricks to keep on most sensible of repayment updates, so when your company publicizes or fits, please textual content us (646-820-8477) or e-mail us (topic line: “[Firm Name] Bonus/Fits”). Please come with the memo if to be had. You’ll be able to take a photograph of the memo and ship it by the use of textual content or e-mail in the event you don’t wish to ahead the unique PDF or Phrase document.
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Staci Zaretsky is a senior editor at Above the Regulation, the place she’s labored since 2011. She’d love to listen to from you, so please be at liberty to e-mail her with any pointers, questions, feedback, or opinions. You’ll be able to practice her on X/Twitter and Threads or attach together with her on LinkedIn.
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