Wall Street lawyers working harder and seeing smaller bonuses
The Wall Street Journal reports that junior lawyers at top law firms worked harder in 2010, but that their end of year bonuses are generally at the same level as last year’s.
The associates that survived redundancy rounds at the top 50 Wall Street law firms billed 7 per cent more in 2010, according to Citi Private Bank Law Firm Group.
Bonuses of up to $35,000 were paid at these firms this year – around the level of the 2009 bonuses but substantially less than the sums paid a few years ago, which reached up to $65,000.
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