Cahill Gordon & Reindel takes the lead on associate bonuses
Cahill Gordon & Reindel appears to be taking the lead on associate bonuses, breaking ranks with other law firms, who have largely followed the standard set by Cravath Swaine & Moore.
Cahill has unveiled a plan to pay three bonuses over a half-year period that could more than double the going rate of $35,000. The law firm paid mid-year bonuses ranging from $2,500 to $15,000, and now, according to anonymous sources, it plans to pay bonuses equal to the Cravath scale, plus an additional bonus of up to $25,000.
That means a senior associate at Cahill who is paid the top rate could take home a total of $75,000 in bonuses over the six month period.
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