Davis Polk follows market standard for year-end bonuses
Davis Polk has announced the amount of its end of year bonuses, matching the industry standard set by Cravath Swaine & Moore.
AboveTheLaw is unimpressed with the announcement, noting that by setting bonuses at the same rate as everybody else, the firm missed a good opportunity to signal that they are ready to compete for talent, clients and media space.
Such a move would have squared with the firm’s effort to become more entrepreneurial under the leadership of managing partner Tom Reid, and recent decision to hire more laterals. If the firm really wants to shake things up, says RollOnFriday, it should beat the market on bonuses next year.