Cahill Gordon & Reindel has awarded mid-year bonuses to associates in recognition of how busy they have been lately, a source said. Bonuses ranged from $2,500 for first-years to $15,000 for senior associates, according to the source. Associates were informed individually about the bonuses, the source said. A Cahill spokeswoman declined to comment. The bonuses were first reported by the gossip blog Above the Law.
It was unclear yesterday if others law firms would follow Cahill Gordon’s decision. While New York firms frequently copy each other for bonus amounts and associate salaries, Cahill is not typically considered a market leader in setting compensation levels. The firm’s salary and bonus decisions normally lag behind firms such as Sullivan & Cromwell and Cravath, Swaine & Moore.
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