Cravath, Swaine & Moore on Monday announced year-end associate bonuses that for the most junior lawyers were at best half of what they received last year. Cravath's announcement kicks off the bonus season among New York law firms, but the head of one major law firm said he would expect a negative reaction from clients on "any bonuses being paid in the current economy." He said he expected that a decision to pay bonuses "would have been deferred for some number of months."
As Cravath Kicks off Bonus Season, Will Clients Disapprove?
New York Law Journal
November 3, 2009