Back in September, Davis Polk raised the bar for special rewards, offering employees up to $ 40,000 based on class year in recognition of their hard work during the pandemic. These bonuses weren't just important to Davis Polk employees – now almost all companies have introduced the Davis Polk special bonus so they don't get left in the dust when it comes to offering market compensation.
And now the top 20 Am law firm that sparked the big bonus boom for 2020 has announced their year-end bonuses. Unsurprisingly, the company has hit the prevailing market price first announced by Baker McKenzie and later confirmed by Cravath. Here is the Davis Polk bonus scale for 2020:
The company's year-end bonuses will be paid on December 15th. Congratulations to everyone at the company on a great year. Davis Polk certainly has the thanks of almost everyone else in the biglaw landscape for replenishing their bank accounts with special bonus cash during this nightmare of a year.
(Turn to the next page to read the Davis Polk bonus memo in full.)
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Staci Zaretsky is Senior Editor at Above the Law, where she has been working since 2011. She would love to hear from you. Please send her an email with tips, questions, comments or criticism. You can follow her on Twitter or connect with her on LinkedIn.