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National Firm Not Matching Davis Polk Scale

Daily Legal Briefing by Daily Legal Briefing
December 21, 2021
in Big Law
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National Firm Not Matching Davis Polk Scale
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sad money Funny Casual Girl Holding Money Ready to Make PaymentTo some extent, the bonus game is all about expectations. It’s why Davis Polk responded to Cravath’s bonus announcement with a supplemental “special bonus” rather than just raising the bonus amounts — the firm wants to be able to go back to the Cravath level next year and write off 2021 as an outlier.

No one wants to retreat from expectations. We’re seeing that with the Kirkland bonuses, where the firm yet again beat the market, but by significantly less than it beat the market in the past. Associates notice these things.

Today, McKool Smith informed attorneys of individual bonuses and, from what tipsters report, the firm matched!… Cravath.

However, according to our intel, the firm opted out of the special bonus scale set by Davis Polk and ultimately matched by the Biglaw market (including Cravath eventually).

For the second year in a row the firm fails to give associates the special bonuses. While last year the firm ultimately did pay them, their failure to do so again is a bad look and associates are pissed.

It’s a curious strategy especially given last year. After weathering the criticism of 2020 and then handing over all the cash anyway, one might have thought the firm learned that this wasn’t tenable. We’ll have to wait and see if it has another tranche of payments in its future.

*** Wondering if the grass is greener on the in-house side? Click here for a look inside the black box of corporate counsel pay in our 2021 In-House Compensation Report. ***

Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.

And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we’ll also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish.


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