Cahill Gorden to pay 'special' bonuses
Cahill Gordon has announced “special” bonuses that will be paid this month ahead of the usual year-end bonuses in January, the latter of which follow the industry trend set by Cravath Swaine & Moore.
Chairman William Hartnett foreshadowed the grant of a special bonus in October, noting that the firm would exercise its discretion to hand out special bonuses in December, and that Cahill associates would be ahead of the market standard in bonus compensation this year.
Above The Law reports unconfirmed figures for the special bonus as follows:
Class of 2011: $10,000
Class of 2010: $10,000
Class of 2009: $15,000
Class of 2008: ?
Class of 2007-2005: $25,000
Cahill associates have also received mid-year bonuses of $5,000 to $10,000 over the summer.