US law firms are lining up to announce bonuses for their associates as the year end approaches. Cravath, Swaine & Moore was first out of the blocks this year with a $15k bonus for newest associates rising to $100k for the class of 2009. CSM associates can earn between $195k and $415k when bonuses are added. Milbank Tweed followed suit with similar bonus arrangements whilst Arnold & Porter Kaye Scholer is the latest firm to lay its cards on the table. Associates with at least 2000 hours, including time spent on billable, pro bono and other qualifying work, will be considered for bonuses from $15,000 for the youngest associates to $100,000 at the firm which is awarding special bonuses for 2400 plus hours.

Bonus arrangements at other firms

Weil, Gotshal & Manges has also announced it is going to pay associates top-of-the-market compensation -  $15K for the most junior to $100k for those at the firm since 2009.  Meanwhile Sidley Austin's bonus arrangements cater for 'individualised' bonuses which are discretionary. 'In establishing bonus amounts, we have given substantial weight to the quality of an associate’s work and 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.  Subject to these considerations, we are pleased to announce the following general base bonus amounts by class year,' Sidley & Austin says in its memo. However, it adds that  'associates with higher productivity and exceptional performance may be eligible to receive a bonus above these amounts.'