Sidley announces bonuses and pay rises
Sidley Austin has announced year-end bonuses for associates and salary increases across the firm based on seniority. The bonuses are discretionary and the amount is determined on an individual basis. While the process is not transparent, the firm does set out the criteria that are used to calculate the bonus awards, giving substantial weight to the quality of an associate’s work, the hours that each associate has spent on chargeable, pro bono, and certain non-chargeable matters, such as legal services and other special contributions to the firm.
Above The Law has published some anonymous reports regarding the bonuses received by Sidley’s associates. Below is the information reported on each le el of seniority, along with the amount paid by Cravath Swaine & Moore at the same level, in brackets.
Class of 2012 – sources report there were no stub-year bonuses for newly arrived first-year associates [Cravath: $10,000 pro-rated].
Class of 2010 – hours between 2000 and 2500 – bonus more than $20,000 [Cravath: $14,000].
Class of 2009 – hours between 2000 and 2500 – bonus more than $25,000 [Cravath: $20,000].
Class of 2008 – made hours – bonus a bit below market [Cravath: $27,000].
Class of 2008 – hours between 2000 and 2500 – bonus more than $40,000 [Cravath: $27,000].
Class of 2008 – high hours – bonus more than $45,000 [Cravath: $27,000].
Class of 2006 – made hours – bonus a bit below market [Cravath: $40,000].