Vinson To Unfreeze Pay, Use Cravath Bonus Model

By Liz McKenzie

Law360, New York (January 29, 2010, 6:02 PM ET) -- Vinson & Elkins LLP has reportedly ended its salary freeze and outlined how it will dole out merit-based bonuses and raises to associates.

Legal blog Above the Law said it received tips from New York- and Houston-based associates providing details of the compensation changes.

The firm allegedly froze salaries at 2008 levels in May but revealed in memos distributed Friday morning that it was unfreezing all associate salaries and that some associates will receive bonuses in line with the model adopted in late 2009 by Cravath...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles