Alston & Bird just handed out Biglaw's version of a golden ticket: bonuses! The firm has been rolling in the dough - the American Lawyer reported that the firm grossed $1,331,414,000 last year. When your coffers are that full, you've gotta make sure that the associates get their share of the treasure. Here's the scale: To the hard workers at Alston & Bird, enjoy the money! And if you're looking for something fly to spend your cash on,
The firm we're speaking of is of course Axinn, which in early September announced a salary scale ranging from $250,000 for first-years to $460,000 for eighth-years - - $25,000 above the current Biglaw salary scale for each class year. While Biglaw firms are trotting out the same old lockstep salary scale this holiday season, Axinn is retaining its enhanced one.
Abracadabra! Biglaw bonus announcements are magically appearing in associates' inboxes left and right, and the latest firm to unveil a bonus scale is Clifford Chance. Last year, the firm took in $3.25 billion in gross revenue and now they're sharing the good fortune with associates. Today, Clifford Chance sent a memo to its U.S. associates announcing the firm will be matching the Cravath scale, complete with Milbank's summer bonuses. Here's what that looks like at the firm: