Freshfields and Linklaters boost bonuses to match US payouts
Freshfields Bruckhaus Deringer and Linklaters have followed in the footsteps of Magic Circle firms Clifford Chance (CC) and Allen & Overy (A&O) to boost associate bonuses in order to match payouts offered by US firms such as Cravath, Swaine & Moore. The bonuses range from $15,000 for associates from the classes of 2015 and 2016 up to $100,000 for associates from the class of 2008.
A&O and CC both announced last week that they would match US bonuses. US firms have increased bonus payouts in recent years in a bid to attract and retain junior lawyers.
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