Law360, New York (November 20, 2009, 1:08 PM ET) -- Skadden Arps Slate Meagher & Flom LLP has released this year’s associate bonus structure, which reportedly mirrors the model adopted by Cravath Swaine & Moore LLP and pays junior associates less than half what they earned in 2008.
The Wall Street Journal reported Thursday that Skadden would match the year-end bonuses being paid out by Cravath and Cleary Gottlieb Steen & Hamilton LLP, which followed Cravath’s lead last week.
A memo written by Skadden chair Eric Friedman and obtained by WSJ explained, “While the economic environment...
Skadden Is Latest To Match Cravath Bonus Model
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