It’s formally bonus season, which is essentially the most fantastic time of the 12 months so far as Biglaw associates are involved. Now that companies are stepping as much as the plate to match Milbank’s year-end bonuses and particular bonuses, attorneys have much more to be glad about this 12 months.
The most recent agency to announce bonuses is Skadden Arps, which introduced in $3,270,091,000 gross income in 2023, placing it at No. 5 on the Am Legislation 100. The elite agency is in fact matching the beneficiant Milbank bonus scale, however is providing additional money for its most skilled associates — one thing that different companies might wish to begin doing to acknowledge their extremely onerous work. That mentioned, right here’s what bonuses appears to be like like on the Skadden:
| Class 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!
(Flip to the following web page to learn the total memo from the agency.)
Keep in mind everybody, we rely in your tricks to keep on high of compensation updates, so when your agency broadcasts or matches, please textual content us (646-820-8477) or electronic mail us (topic line: “[Firm Name] Bonus/Matches”). Please embody the memo if accessible. You possibly can take a photograph of the memo and ship it by way of textual content or electronic mail for those who don’t wish to ahead the unique PDF or Phrase file.
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Staci Zaretsky is a senior editor at Above the Legislation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to electronic mail her with any suggestions, questions, feedback, or critiques. You possibly can observe her on X/Twitter and Threads or join together with her on LinkedIn.
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