As a Cooley insider told Above the Law, “It was nice to be a market leader for a day.”
So what’s going on in the company? If you remember way back to last week, Cooley got you started COVID Rating Reward The game, which is offering colleagues between $ 2,500 and $ 7,500 in special expression from the company for their hard work during the pandemic. But then Davis Polk It set off a new standard, and the Cooley scale blew up. Their bonuses started at $ 7,500 and went up to $ 40,000. And companies Quickly Started Accumulate on this New reward Scale.
All of this sets the background for speculation at Cooley. Will the company increase the spread between its bonuses and the newly emerging market benchmark?
Colleagues seeking extra cash don’t seem to be so fortunate. Tipsters reported the message from the partnership, “We don’t match DPW, but we also don’t match Kirkland.”
Here is some perspective from within the company:
It’s a problem, especially after hearing the update for company numbers. It looks like we’re increasing productivity by 8% compared to last year for August, and we’re just down 1% from that point in 2019 (but we’re rapidly gaining ground after a short while during the early COVID period) there was some reassurance that overall compensation in the market would be taken into account for bonuses. End of the year, but these episodes are blank given that Cooley pays singles bonuses.
We’ve reached out to Cooley for comment, and we’ll update the story if we hear again.
Cooley’s associates got at least some money – there’s a lot of Biglaw who still wonder if their company would say thank you in the form of some hard cash.
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Catherine Rubino is Senior Editor, Above the Law, and host of The Jabot Podcast. AtL Tips are the best, so please get in touch. Feel free to email to her For any advice, questions or comments and follow it on Twitter (@Catherine 1).