The Bitter Tale of Big Law Firms Associate Bonuses

In Legal News by FASHIONENTLAW™

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Hi folks. Hope your Christmas holiday was good.

I know the lawyers among us, especially those who have worked for large law firms in the past, will so appreciate this article from the Wall Street Journal Law Blog (WSJ). Excerpts follow:

“A little over a month ago, we blogged about Cravath’s year-end bonus payments to associates. The response from readers was swift and angry: How dare the firm award such seemingly meager payouts?

Today, WSJ takes a deeper look at this year’s bonus season, in which many top firms have followed Cravath by awarding bonuses that start at $7,500 for first-year associates and climb up to $35,000 for senior associates.

Why did many firms award bonuses this year that are only marginally better than their 2009 payouts?

In part, WSJ reports, because business hasn’t improved much. Corporate work has not yet returned to the peaks of 2007, when year-end bonuses were much higher at many firms. And litigation is still sluggish, as clients have grown less willing to engage in protracted lawsuits and more apt to prod law firms to charge less for handling court case . . .”

WSJ has the full story.

Uduak Oduok (Ms. Uduak) is a Partner and Co-Founder of Ebitu Law Group, P.C. where she handles her firm’s fashion and entertainment law practice areas. Ms. Uduak has litigated a wide variety of cases in California courts. She has also handled a variety of entertainment deals for clients including network television and licensing deals. Her work and contributions to the creative industry has been recognized by numerous organizations including the National Bar Association, and featured in prestigious legal publications in the USA: ABA Journal and The California Lawyer Magazine. She is also the author of Fashionentlaw™ and also has over two decades combined hands on industry experience in the creative industry which includes modeling, retail, fashion production, public relations, digital media, journalism and publishing. For further inquiries or if you are seeking legal representation, please email (uduak@ebitulawgrp.com). You may also follow her on twitter at @uduaklaw

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