Davis Polk Matches Cravath and Adds 20% 'Special Bonus'
Several firms have already matched Cravath, this year's first mover, but some were waiting to see if another elite firm would do even more.
December 06, 2021 at 09:30 AM
2 minute read
Lawyer Compensation - Law Firm
The original version of this story was published on The American Lawyer
Davis Polk & Wardwell has entered the annual bonus fray, matching the standard set by Cravath, Swaine & Moore in late November and adding a 20% "special bonus" for the all but the class of 2021, according to a memo obtained by Law.com.
The memo detailed a year-end bonus structure that matches the Cravath scale, which several other firms have followed so far. But Davis Polk also has a "special bonus" section. The special bonus scale is as follows:
|- 2021: N/A
- 2020: $4,000
- 2019: $6,000
- 2018: $11,500
- 2017: $15,000
- 2016: $18,000
- 2015: $21,000
- 2014 and senior: $23,000
The standard language applied through most of the memo, with the firm stating that the special bonus is a "one-time bonus" and that both the standard and special bonus are subject to stipulations around "part-time arrangements and 2021 start dates".
Both bonuses will be paid on December 30, the memo said.
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