Skadden matches Cravath's bonus scale
Skadden, Arps, Slate, Meagher & Flom has announced the rate of bonuses to be received by associates, matching the figures announced a day earlier by Cravath, Swaine & Moore.
While the memo sent to associates did not set out the detail of the bonuses, Executive Partner Eric Friedman said that discretionary bonuses "will range from $7,500 to $35,000 and will be issued in mid-December", and an unnamed source has reported that the firm would match what Cravath announced on Monday.
Cravath’s scale, which kept bonuses at last year’s level with the exception of a $5,000 bump for the most senior associates, may now become the market standard.
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