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WHAT WE’RE WATCHING
BONUS POINTS – Four days after Milbank issued the first—and early—salvo in the law firm bonus wars, Cravath has announced its year-end bounty, which matches Milbank and is the same as last year. Dylan Jackson reports that first-year associates are taking home a $15,000 year-end bonus while senior associates are receiving up to a $100,000 bonus. Last year Cravath was the first mover on associate bonuses, announcing them on Nov. 19. Meanwhile, one Austin boutique says it’s outdone them both, Brenda Sapino Jeffreys reports. Reid Collins & Tsai, with 35 lawyers, says it’s paid associates with one to three years of experience $85,000 to $95,000 in bonuses so far this year, while senior associates with four or five years of experience have received $85,000 to $102,500.
