TITLE

US firms vie for bragging rights to staff bonuses

AUTHOR(S)
O'Connor, Joanne
PUB. DATE
December 2004
SOURCE
Lawyer;12/13/2004, Vol. 18 Issue 48, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that the U.S. bonus war is in full swing with a trio of New York's elite firms announcing whopping end-of-year sweeteners for associates. Sullivan & Cromwell LLP announced a 20,000 dollar bonus for first year associates last month, in addition to the one-off 10,000 dollars windfall the firm unveiled in October. Last week M& A powerhouse Cravath Swaine & Moore met Sullivan's challenge, unveiling a 30,000 dollar end-of-year bonus for first-year associates. Simpson Thacher & Bartlett has since matched the rates set by its New York rivals, announcing bonuses of 30,000 dollar for first-year associates and 60,000 for senior associates.
ACCESSION #
15475673

 

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