The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
US firm Weil Gotshal & Manges has upped the ante for associate end-of-year bonuses, emerging as the biggest bonus payer on Wall Street and beating New York giants Cravath Swaine & Moore, Skadden Arps Slate Meagher & Flom and Simpson Thacher & Bartlett.
Until Weil Gotshal announced its figures of up to $20,000 (£13,900) for first year-qualifieds and up to $60,000 (£41,600) for senior associates, Cravath had been top with $50,000 (£34,600).
Other New York firms have reversed decisions to make either reduced bonuses or none at all. Davis Polk & Wardwell stated in October that it would not pay bonuses, but has now said that it will match Cravath.
Simpson Thacher has also reconsidered its bonuses. The firm announced that it will more than double the previously announced $10,000 (£7,000) to $25,000 (£17,300).
But amounts this year are still lower than last year: Clifford Chance's bonuses of $20,000-$50,000 are down; Skadden Arps revealed that it would pay $2,500 (£1,700)-$12,000 (£8,300); and although Sullivan & Cromwell said that it will pay bonuses, figures have yet to be specified.