Less than an hour after Cravath officially kicked off the 2020 bonus season by sweetening Baker McKenzie’s year-end bonus scale and the pot through Davis Polk’s special bonus scale, another elite law firm hit market price as quickly as possible.
Which company will be the first to match the official Biglaw 2020 bonus scale?
Paul Weiss is the first company to get on the Cravath bonus car. Bonuses in the company are paid to employees on December 18th.
It’s worth noting that Paul Weiss refused to receive the Davis Polk fall bonuses almost two months ago because it would be “inappropriate” as the company’s customers and others are experiencing “unprecedented economic trauma” due to the pandemic. And yet … here’s the company that’s exactly matching those bonuses if coronavirus cases worsen, all because Cravath did it first.
Here is the Paul Weiss bonus scale:
Congratulations to the Paul Weiss staff on the great bonuses!
(Scroll to the next page to see the Paul Weiss bonus memo.)
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Staci Zaretsky is Senior Editor at Above the Law, where she has been working since 2011. She would love to hear from you. Please send her an email with tips, questions, comments or criticism. You can follow her on Twitter or connect with her on LinkedIn.