Dewey & LeBoeuf follows Cravath bonus scale
Dewey & LeBoeuf has announced bonuses for its US counsel and associates, with the firm essentially following the scale set by Cravath, Swaine & Moore.
The differences between the bonus package announced on behalf of Dewey and that put forward by Cravath are in the detail:
First, a caveat – there is a fairly standard hours requirement. Associates must have billed at least 2,000 hours (inclusinve of fee-earning, pro bono and accountable hours) to be eligible for the bonus.
There is also a requirement that attorneys be “in good standing at the time of payment,” and pro-rated bonuses for late arrivals and leave-takers.
And there is some good news for selected top performers, with an ‘additional discretionary bonus’ to be granted to take into account exceptional performance.
The bonus scale is as follows:
Class of 2009 — $7,500
Class of 2008 — $10,000
Class of 2007 — $15,000
Class of 2006 — $20,000
Class of 2005 — $25,000
Class of 2004 — $30,000
Class of 2003 — $35,000