The “boom-year” bonus wave launched by Sullivan & Cromwell two weeks ago is spreading to other top firms again this year, as expected.
Dewey Ballantine; Paul, Weiss, Rifkind, Wharton & Garrison and Davis Polk & Wardwell have promised special bonuses to associates on top of their base salaries and regular merit bonuses to reward associates for helping make 1999 an especially profitable year. And Cravath, Swaine & Moore is expected to distribute a memo detailing extra compensation today, a source at the firm said.
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