BigLaw bonuses remain at 2009 levels for US firms, climb at UK firms

As we wade into bonus season, it looks as if Cravath has once again set the bar for BigLaw. Last week, Cravath announced associate bonuses at the following levels: Class of 2009 - $7,500 Class of 2008 - $10,000 Class of 2007 - $15,000 Class of 2006 - $20,000 Class of 2005 - $25,000 Class of 2004 ...

Increasing Billable Hour Targets: Can Higher Expectations be Sustained?

More Hours? Firms had already begun to set billable hour targets and minimum requirements for their partners and associates. [1] Conventional wisdom at the time held 1500 as the maximum number of hours lawyers could reasonably expect to bill, equating to just over 30 billable hours per week making...