Both Freshfields Bruckhaus Deringer and Linklaters have confirmed that they will be matching the associate bonus scale set last week by Wall Street heavyweight Cravath Swaine & Moore for their own associates in the United States. Magic Circle contemporaries Clifford Chance and Allen & Overy have already confirmed that they too will be matching the Cravath scale this year. Both Linklaters and Freshfields announced the bonuses to their associates last week and will pay out on 30 December.
Bonuses hold steady
The Cravath scale, which can be viewed in full here, starts at a $15,000 pro-rated bonus for associates with one year PQE and ranges up to $100,000 for associates from 2008 and 2009. A trendsetter for remuneration both in the United States and abroad, Cravath opted last week to keep its associate bonus scale unchanged from 2015 despite triggering the first post-GFC pay raise wave for associates in July this year.
Source: Legal Week
Email your news and story ideas to: [email protected]
