Davis Polk Paying Associates Spring, Fall Bonuses in 2021 (1)

Davis Polk & Wardwell has introduced a new spring bonus for associates this year and a repeat of its pace-setting fall bonuses from last year, raising the compensation bar as Big Law’s richest firms seek new ways of retaining talent.

Davis Polk will pay associates based on seniority between $4,500 and $24,000 on April 26, and follow up with bonuses in a range of $7,500 and $40,000 on Sept. 30, according to a memo viewed by Bloomberg Law on Monday. The firm, which has already offered its associates luxury gifts in recognition of their hard work, expects to also pay ...