Sullivan & Cromwell has unveiled a plan to pay senior associates and counsels supplemental bonuses tied to the firm's financial performance. According to an internal memo, the new bonuses are for fifth-year associates and up, as well as counsels, and which will be paid in addition to those lawyers' base salaries and normal year-end bonuses. A Sullivan & Cromwell partner said the supplemental bonuses would probably range from about $15,000 for fifth-years to about $30,000 for eighth-years.
September 20, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Sullivan & Cromwell has unveiled a plan to pay senior associates and counsels supplemental bonuses tied to the firm’s financial performance.
According to a memo circulated internally Wednesday, the New York firm will set aside a pool for the new bonuses, which are for associates at the fifth-year level and up, as well as counsels, and which will be paid in addition to those lawyers’ base salaries and normal year-end bonuses.
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