Sonnenschein’s New Compensation Potpourri Starts to Take Shape
March 9th, 2010 admin

Back in December, Sonnenschein announced the outlines of it’s new merit based compensation structure . At the time, the firm promised its associates more details in March. The firm is true to its word: we’re now in March, and we have more details. Above the Law talked with a spokesperson for Sonnenschein. Here’s the top line news: 1st year compensation returns to $160,000 for first year associates 12% – 15% of that compensation will be paid out as a “base bonus” in 2011 There are no hours or competency requirements to achieve the base bonus in 2011 2010 raises for veteran associates will…
Related Posts
Last May, Reed Smith announced a 10 percent across-the-board salary cut for its associates. The cut went into effect on July 1, 2009. This week brought salary and bonus news from the firm. From one Reed Smith source: Reed Smith announced 2010 compensation today. The firm’s “raises” are essentially only restoring the original salary...
Today is the last day at Sonnenschein Nath & Rosenthal for Marc Zwillinger and Christian Genetski — the chair and vice-chair, respectively, of SNR’s internet practice group. Their bios have already been removed from the Sonnenschein website (our links go to cached versions), and if you email them — as we did, to confirm the...
Another salary shoe has fallen in Chicago. Winston & Strawn froze salaries last year, and they are doing it again this year. A tipster reports: Chicago received salary memos yesterday; DC just received salary memos today – All are individualized with no general pay scale included – just the recipient’s salary information....
Back in November, Baker Botts told us that they would be moving away from a lockstep associate compensation system and instituting a new merit based system . Yesterday, the firm released the base salary levels for its new four-tiered system. Here’s the statement from the firm regarding the basic changes: The next phase of a talent management...
The leaders of U.S.-based Sonnenschein Nath & Rosenthal and the U.K.’s Denton Wilde Sapte announced Wednesday that the two firms would combine, creating a top-25 global firm when measured by headcount.
Read More →
It must be a slow news week over in mainstream media land. Earlier this week, the New York Times did a survey piece about American salary cuts that tangentially touched on lawyer salaries — old news for people on top of the legal market, but probably new to a more general audience. Today, the Boston Globe is getting in on the lawyer pay action....
Those who despise the health-care bill have two main avenues of recourse, it seems. They can hope that the bill is ultimately repealed by a change in power in Washington at some point down the road. Or, as we previewed not once but twice on Monday, they can litigate the darn thing — hope that a judge (or group of judges) finds that Congress...
Last week, Wilson Sonsini was busy shuffling staffers out the door. Today, Wilson Sonsini is proud to announce bonuses for the lawyers — just in case any of them were feeling bad about their recently departed secretaries. The firm-wide memo just went out; here’s the bonus news: Merit Bonus The firm will pay merit bonuses for FY10 to...
As we’ve discussed before, Latham & Watkins can be a bit bipolar. Sometimes the firm is in manic mode, expanding and hiring and paying very generous bonuses. Then it sinks into depression, replete with freezing salaries and large-scale layoffs . Right now L&W seems to be in happy mode. In recent weeks, it has announced true-up salary...
Today brings some updates in the controversy concerning the compensation of Karen Rothenberg , former dean of the University of Maryland School of Law . From this morning’s Baltimore Sun : State university system officials have asked the former dean of the University of Maryland School of Law to return $60,000 in unauthorized compensation...
Related Tweets from Twitter
| MollyDenby (Molly Denby) : Does This Law Degree Make My Ass Look Fat?: Given the choice between the following two single women to date, ... a... http://bit.ly/ceVqPi.. Updated : 2010-09-08T16:51:04Z | Reply | View Tweet |
|
|
sweethotjustice (Sweet Hot Justice) : Hear hear. RT @atlblog Does This Law Degree Make My Ass Look Fat? Not to me, baby. All praise the sugar mammas: http://bit.ly/aytw2v -EM.. Updated : 2010-09-08T16:43:41Z | Reply | View Tweet |
|
eilerslawgroup (William Eilers) : RT @atlblog Does This Law Degree Make My Ass Look Fat? http://bit.ly/bQqnEF.. Updated : 2010-09-08T16:42:21Z | Reply | View Tweet |
| UrbanHaiku (Ivy Le) : RT @atlblog: Does This Law Degree Make My Ass Look Fat? Not to me, baby. All praise the sugar mammas: http://bit.ly/aytw2v -EM.. Updated : 2010-09-08T16:37:19Z | Reply | View Tweet |
|
|
atlblog (Above the Law) : Does This Law Degree Make My Ass Look Fat? Not to me, baby. All praise the sugar mammas: http://bit.ly/aytw2v -EM.. Updated : 2010-09-08T16:33:18Z | Reply | View Tweet |
Related News from Digg
Leave a comment
| Trackback

























