#associate-compensation

#associate-compensation

Simpson Thacher is about to give their employees a reason to be thankful. After grossing $2,896,282,000 in 2024, the Biglaw firm is doing the right thing and sharing some of the profits to reward associates for their hard work. Here's the scale: To everyone at Simpson Thacher, enjoy the money. With the extra cash, you could invest a little more into this year's Turkey day. According to our tipster's email, you should expect to see the money come your way by the end of December.

Yesterday afternoon, D.C.-based litigation boutique Wilkinson Stekloff announced year-end bonuses that are 150% of market bonuses. Biglaw bonus season is in full swing, with firms stepping in left and right to match Cravath's year-end bonuses and Milbank's special bonuses, but things are about to get even hotter, because one of the boutiques is here to play. This firm went over the top in a major way - including on their bigger and better special bonuses.

On top of these bonuses, MWS will be continuing one of MWE's traditions of offering bonuses that go above and beyond the market scale. As chairman Ira Coleman notes in the firm's announcement, "We remain committed to being top of market in all that we do and are pleased to note that, consistent with prior years, about two-thirds of legacy MWE Associates will earn above the Cravath scale." We suppose legacy SRZ associates - who were formerly able to cash in on step-up bonuses for their extraordinary contributions - will be able to get in on that action next year.

That firm is Axinn. Known more for its strong niche practices than for making headlines in the compensation wars, Axinn stunned the market today by matching Milbank's summer bonuses and raising associate salaries. It's a bold move from a firm that hasn't historically been part of the Biglaw pay conversation, and it immediately raises the question: if Axinn can step up, why can't everyone else? Here's what the firm's new salary scale looks like: