RollOnFriday has learned that London associates at Skadden have been awarded
year-end bonuses of up to $100,000.
London lawyers working for US firms usually receive far smaller bonuses than their stateside colleagues, but according to Skadden insiders, this year they are in line for exactly the same amounts. And some of them are quite large:
Executive Chairman Eric J Freidman sent separate memos to each year group explaining that the discretionary bonusus were "in appreciation for your hard work". Some 7+PQE associates are in line for $110,000 "in recognition of extraordinary performance and intensity of effort", which translates as a level of beasting rarely witnessed in this plane of reality, but which will hopefully abate for a few minutes on December 19th when the cash arrives.
The awards, some of which are double last year's, have been matched in the US by Davis Polk and Simpson Thacher. However neither of those firms would disclose to RollOnFriday whether UK lawyers were included in the jackpot. Skadden also declined to comment.
Tip Off ROF
London lawyers working for US firms usually receive far smaller bonuses than their stateside colleagues, but according to Skadden insiders, this year they are in line for exactly the same amounts. And some of them are quite large:
| NQ | $15,000 (prorated) |
| 1PQE | $15,000 |
| 2PQE | $25,000 |
| 3PQE | $40,000 |
| 4PQE | $55,000 |
| 5PQE | $70,000 |
| 6PQE | $85,000 |
| 7+PQE | $100,000/$110,000 |
Executive Chairman Eric J Freidman sent separate memos to each year group explaining that the discretionary bonusus were "in appreciation for your hard work". Some 7+PQE associates are in line for $110,000 "in recognition of extraordinary performance and intensity of effort", which translates as a level of beasting rarely witnessed in this plane of reality, but which will hopefully abate for a few minutes on December 19th when the cash arrives.
 |
A green Christmas at Skadden, yesterday |
The awards, some of which are double last year's, have been matched in the US by Davis Polk and Simpson Thacher. However neither of those firms would disclose to RollOnFriday whether UK lawyers were included in the jackpot. Skadden also declined to comment.
Comments