Cahill Gordon associates are cleaning up—much to Cravath’s chagrin, according to abovethelaw.com. Every lawyer’s getting pre-holiday gifts worth up to $35,000. And, they can still anxiously anticipate year-end bonuses similar to Cravath’s 2010 offerings.
Associates learned the great news by phone only. There was no company communique. Year-end bonuses could incredibly outpace Cravath’s bonuses. After all, certain Cahill Gordon associates took home $35,000 more than Cravath lawyers last year.
Cravath associates, despite Spring bonuses, got less than Cahill Gordon attorneys. That wasn’t counting the mid-year bonus, which ranged from $5,000 to $25,000.
A fourth-year associate, for example, would have gotten a $10,000 bonus this summer, plus $25,000 revealed today. Once the Cahill makes the $15,000 payment, that associate would take home $50,000.