I don’t get the logic: Big firms are lavishing associates with fat bonuses again, while, at the same time, signaling that their chances for partnership are worse than ever. Are firms sending associates a garbled message that essentially says: “We value you and want you to stay–but don’t kid yourself that you’ll have a future here”?
In recent weeks, firms have been tripping over each other by giving out so-called spring bonuses to their associates (see Above the Law for a summary of bonuses). As you might recall, some firms just forked over end-of-year bonuses about a month ago. It was only in late November that Cravath, Swaine & Moore announced bonuses ranging from $7,500 to $35,000. Then just over a week ago, it announced another round (up to $20,000 this time), to be paid in April.
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