[cynthia]
The Wall Street Journal Law Blog is reporting that associate bonus season has been opened by Cravath. While the announcement is positive in one way (there are going to be bonuses this year!), the numbers truly pale in comparison to last year's.
First years (class of 2008) will receive $7,500. Second years (class of 2007) will receive $10,000. By contrast, when the class of 2007 were all a bunch of first years, they got $35,000. Let's all take a moment to reflect on the difference 365 days can make.
Wow. That's a huge drop off in bonuses. I wonder if that's a commentary more on the lack of money firms have in general these days, or how very overpaid associates were at this time last year?
Posted by: Joe | November 02, 2009 at 03:11 PM
I'm actually very surprised by this. I've heard many firms forgoing these bonuses based on the economic state we are in.
Posted by: Disability Insurance | December 02, 2009 at 10:41 AM
I'm actually very surprised by this. I've heard many firms forgoing these bonuses based on the economic state we are in.
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I wonder how much will be the cost of the bonus for 2010.. Will it be better or not...
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Posted by: Account Deleted | March 18, 2011 at 03:22 AM
when the class of 2007 were all a bunch of first years, they got $35,000.
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