Philadelphia’s most profitable large law firm, Dechert, gave its associates an early Christmas present in the form of hefty bonuses, according to the Above the Law blog.
Dechert essentially matched the bonus scale set by New York-based legal powerhouse Cravath Swaine & Moore, which includes a bonus of $15,000 for those who graduated in 2014 up to $100,000 for those who graduated in 2008 or prior.
In a memorandum obtained by Above the Law written by Cathy Botticelli, Dechert’s deputy chair for talent, the firm said bonuses will be rewarded to associates in its U.S. office who have billed 1,950 “bonus hours” which consists of billable, pro bono and firm-as-client work, plus up to 25 hours shadowing a partner.
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