Back in September, Davis Polk really raised the bar on special bonuses, offering associates up to $40,000 based on class year in recognition of their hard work throughout the pandemic. These bonuses weren’t consequential for Davis Polk associates alone — now almost all firms have adopted the Davis Polk special bonus, lest they be left in the dust when it comes to offering market compensation.
And now, the top 20 Am Law firm that brought about 2020’s bonus big boom has announced its year-end bonuses. Unsurprisingly, the firm has matched the prevailing market rate that was first announced by Baker McKenzie and later echoed by Cravath. Here’s the Davis Polk bonus scale for 2020:
Year-end bonuses at the firm will be paid on December 15. Congratulations to everyone at the firm on a great year. Davis Polk certainly have the thanks of almost every other associate across the Biglaw landscape for stuffing their bank accounts full of special bonus bucks during this nightmare of a year.
(Flip to the next page to read the Davis Polk bonus memo in full.)
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.