Skadden and Simpson Match Cravath's Year-End Bonus
Skadden and Simpson have also announced their year-end bonus amounts and both firms will be matching industry-leader Cravath according to Reuters. Cravath's bonus scale ranged from $10,000 for the class of 2012 and 2011 to $60,000 for the class of 2004.
Skadden will be paying its associates on December 21, the same day as Cravath. Simpson will be giving out the bonuses on December 28. The bonus amounts are a big improvement compared to last year's amounts, which ranged from $7,500 to $37,500 for Skadden and $42,500 for Simpson. But the amounts still fall short for the BigLaw firms when compared to their pre-recession peaks. All three firms had paid bonus amounts (both regular and special) ranging from $45,000 for first-year associates to $110,000 to senior associates.