Sullivan & Cromwell has announced a new bonus plan for senior associates that will link supplemental bonuses to the firm’s financial performance. The new system will work by setting aside a certain amount of money for the bonuses–estimated to be around $2.5 million–and make this money available to fifth-years on up, as well as counsels. The firm expects that associates of the same level will earn approximately the same bonuses, although bonuses will be based on financial results and overall activity.
Source: www.nylj.com