Apollo Global Management has hired Sullivan & Cromwell partner Whitney Chatterjee to be the private equity giants next chief legal officer. Salaries at Sullivan & Cromwell can vary depending on the department or organizational function. However, last year, bonuses ranged from $2,500 to $20,000 and for the current year, bonuses are estimated to be $1,000 to $5,000. Sullivan & Cromwell may also be known as or be related to Sullivan & Cromwell, Sullivan & Cromwell LLP and Sullivan & Cromwell Llp. Just How Rich Is Mary Jo White, Debevoise Partner and Likely Future SEC Chair? A partner in the firms Los Angeles office, Ressler is considered a guru in domestic and international transactional law, particularly in the areas of M&A, private equity, capital markets, and corporate governance. A few years ago, Sullivan & Cromwell announced that year-end bonuses will be cut in half, with a maximum of $17,500 for early-career associates and $32,500 for eighth-year associates. Copyright 2022, Thomson Reuters. The New York Times revealed that BigLaw firms were culling partners by not promoting associates or by naming more non-equity partners in the downturn. Is Your Firm Keeping Pace With The Advancements In eDiscovery? Nominee Disclosure Offers Rare Glimpse of Clients and Conflicts. . She will join Apollo next month, initially as general counsel, covering Apollos asset management and retirement services businesses. Employees also have access to an on-site gym in the basement. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Meeting with a lawyer can help you understand your options and how to best protect your rights. While Sullivan & Cromwell employees earn an average yearly salary of $135,120, different roles can command different wages. Top lawyer jobs at private equity groups are closely watched by Big Law firms and having an alumni in the position is seen as a major coup. (Reuters) - Apollo Global Management . new associates to about $180,000 last year, nonequity partners at the largest firms tripled over a 15-year period, A Peek Inside Sullivan & Cromwell Partner Pay, $100k Competition for Law Students' Supreme Court Arguments, How to Pay Off Massive Student Debt in Just a Few Months, Take a Look Into the Secret World of BigLaw Partner Pay. Todays peek inside S&C partner pay arises out of much happier circumstances. 2023 Breaking Media, Inc. All rights reserved. We will never sell or share your information without your consent. The base salary range offered for this role will be between $80,000 and $90,000. Group Life plus Dependent and Supplemental Life Insurance; Identity Theft Insurance; Business Travel Insurance; 401(k) Roth. The Leopard Law Firm Index is a unique and powerful resource for assessing the relative health of law firms. She spoke out about the barriers to making progress with modern ingredients on Instagram. Kotran routinely advises buyers, sellers, special committees, and financial advisers in connection with a wide range of M&A transactions, including negotiated and hostile acquisitions, leveraged buyouts, joint ventures, and asset sales. Jay Clayton, a partner at Sullivan & Cromwell, is at the top of his game and it says something about being a partner in BigLaw. For example, back in 2012, we learned that former Sullivan & Cromwell partner John J. OBrien earned $2.3 million in his last year at the firm. Bonuses are typically awarded in December of each year. A large chunk of S&C trainees complete an international secondment during normal times. Sullivan & Cromwell pays associates of every graduating class at the top of the market. Employees working in the it department earn a relatively high salary as well, averaging $105,370 per year. Has anyone tried putting Florida in a bag of rice for a couple days? All offices in the United States have the same pay scale. Whilst London is the firms second-largest office, its 80 or so fee-earners pale in comparison with the 550 at the New York headquarters. Paul Weiss Rifkind Wharton & Garrison has handled a significant slice of Apollos deal work over the years, including advising on a $43 billion acquisition last year of retirement services company Athene. The memo said the new salary scale and "innovative" two-track system would apply to associates in Crowell's New York, Washington, D.C., and California offices. Content may include attorney advertising. Despite some challenges with management and work-life balance, the reviews from former and current employees are overwhelmingly [], 2023 State of the Lateral Law Firm Market. Geographic location can impact the pay for employees at Sullivan & Cromwell as well. NO POVERTY; 2. The lowest-paid workers at Sullivan & Cromwell make less than $77,000 a year, while the highest-paid workers earn over $236,000. Delaware No Swiping! Ben Protess, Benjamin Bain, Biglaw, Donald Trump, Donald Trump transition, Elizabeth Dexheimer, Federal Government, Goldman Sachs, Gretchen Clayton, Jay Clayton, Matthew Goldstein, Net Worth, Politics, SEC, Securities and Exchange Commission, Securities Law, Sullivan & Cromwell, Trump Transition, Walter "Jay" Clayton. Backed by the power of Employment Research Institute, there is no other publisher in the world more uniquely qualified to write to, and for, legal professionals. You may not collect more than 75 pages in a binder. Sullivan & Cromwell has 57 partners in New York and two overseas, none of them women. Sullivan & Cromwell average salary is $180,154, median salary is $180,000 with a salary range from $75,000 to $305,000. She will take up her new role as Chief Legal Officer next year. (O'Brien left the firm under mysterious . 52 Lawyers Despite the change in leadership, Gibson Dunns financial performance has remained strong, with revenues rising by 14. Vind een leuke job als Secretary in Brussel, BE in het bedrijf Sullivan & Cromwell LLP The work/life balance is as you would expect for a US firm. All rights reserved. Firm listings reflect ATL research and information received. 1d. You may share a link to this page on any of the sites listed below. Sullivan & Cromwell LLP. When Sullivan & Cromwell, the original MoneyLaw firm, began offering UK training contracts in September 2013, jaws dropped as the firm revealed trainees would start on 50,000, a record at the time. And find the best industrial placement opportunities on Bright Network. When determining a candidate's compensation offer, elements unique to each person are taken into consideration including but not limited to skill set, experience level, performance, professional certifications, degrees and location, as well as the needs of the Firm. In terms of other perks, a cake trolley goes around the office every Tuesday and Thursday, were told, and the firm provides lunch from the adjacent Pizza Express once a month. Subscribe and get breaking news, commentary, and opinions on law firms, lawyers, law schools, lawsuits, judges, and more. A commitment to the highest standards of excellence and professionalism that are the hallmarks of Sullivan & Cromwell's legal practice. Registration or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. According to this website, first year lawyers at S&C make $160,000 per annum, excluding bonus. Non-equity partners may not share in profits, but equity partners have to bring in more business to earn more profits. Salary & Benefits. The starting salary is $160,000. Find the complete library of podcast episodes for Critical Insights. Answer (1 of 7): Ha ha. This site is protected by Salary information comes from 57 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months. Salaries and bonuses at the firm are based on a set lockstep system. Enter your email address and start getting breaking law firm and legal news right now! Sullivan & Cromwell LLP. But not the salary. Employees have access to a concierge service which is known for its ability to secure places at restaurants which are fully booked and organise dry cleaning. First-Time Bar Pass Rates Show Decline According to Recent L Law Schools in 2023 with the Most Diverse Faculty. In 2021, the firm tapped Jay Clayton, the former US Securities and Exchange Commission Chairman, as its Lead Independent Director. But Flom was a name partner at Skadden Arps Skadden, Arps, Slate, Meagher, & Flom and he passed away at the age of 87, giving him nine decades to amass all that wealth. A BCG Attorney Search With partner profits of about $3.86 million annually per partner in 2015 at the firm, plus another $500,000 to $1 million in undistributed partnership shares still due Clayton, it's fair to say that equity partner compensation is well and good enough at BigLaw. But again, theres no need to shed tears for the Claytons; they have a nice nest egg put away. Sullivan & Cromwell employees earn $63,000 annually on average, or $30 per hour, which is 5% lower than the national salary average of $66,000 per year. CoinDesk reports: "Law firm Sullivan & Cromwell billed $7.5 million for work on the FTX bankruptcy case | 27 comments on LinkedIn After Jones Day, is S&C the biggest feeder firm to the Trump Administration? Sullivan & Cromwell LLP is a global law firm of more than 875 lawyers on four continents. Private equity deal work has driven profits at some of the most successful law firms over the past decade. View Jobs. . Older students are flocking to these law schools. Los Angeles County Metropolitan Courthouse, Average Pillsbury Winthrop Shaw Pittman Salary, Average Simpson Thacher & Bartlett Salary, Working at Pillsbury Winthrop Shaw Pittman, Paul, Weiss, Rifkind, Wharton & Garrison Jobs. And the space sucks. Our data shows that Sullivan & Cromwell employees in New York, NY get paid the most, where the average yearly pay is $155,053. Please select at least one search parameter or enter a keyword. We wish her continued success as she embarks on this new chapter of her path-breaking career at Apollo., To contact the reporter on this story: Roy Strom in Chicago at rstrom@bloomberglaw.com, To contact the editors responsible for this story: Chris Opfer at copfer@bloomberglaw.com; John Hughes at jhughes@bloombergindustry.com. The process took 2 months. The position will be filled by a partner from Sullivan & Cromwell, a top law firm known for its expertise in corporate law. The law firm's co-chairs called Whitney Chatterjee's move the next chapter of her path-breaking career. At Sullivan & Cromwell LLP, the highest paid job is a Director of Sales at $213,768 annually and the lowest is an Admin Assistant at $47,926 annually. Please note that all salary figures are . Our current policy is to pay our prospective trainees' course tuition fees for the Postgraduate Certificate in Laws (PCLL) course in Hong Kong. code or county). Sullivan & Cromwell pays $64.96 an hour, on average. Save my name, email, and website in this browser for the next time I comment. Have we heard of Biglaw partners with bigger net worths? All offices in the United States have the same pay scale. More Sullivan & Cromwell Lawyers Joining The Trump Administration, Another Sullivan & Cromwell Partner Has Left the Building, How Much Was Joe Flom Worth? From time to time, S&C also offers free tickets to music and sporting events. Terms of Service apply. Posted 12:09:19 PM. Indeed, S&C is one of the most profitable law firms in the world, with profit per equity partner (PEP) coming in at a cool $6.37 million (5.27 million). Pay has improved across the board for partners and associates at BigLaw in recent years. Employees at Linklaters earn an average of $163,677 per year, and the employees at Cleary Gottlieb Steen & Hamilton earn an. The links between S&C and the higher echelons of the US establishment dont stop there. Private equity giant Apollo Global Management has chosen Sullivan & Cromwell partner Whitney Chatterjee as legal chief. Our latest Insights outlines new tax credits for qualifying advanced U.S. energy projects. Worked to educate and inspire the student body about the importance of philanthropy by collaborating . Feel free to generate this binder, clear it, and start a new one with the additional pages you wish to collect. SEC Proposes Significant Changes to Custody Rule for Investment Advisers, SEC Extends EDGAR Filing Hours for Form 144 Filings, New Guidance on $10 Billion Worth of Advanced Energy Project Tax Credits, CFPB Proposed Rule Would Revolutionize Framework for Credit Card Late Fees, New German Law on ESG Due Diligence Obligations in Supply Chains, S&C Advises OpenAI in Its Partnership with Microsoft, S&C Obtains Complete Dismissal of Antitrust Class Actions Against BP, S&C Obtains Dismissal of Securities Suit Against DraftKings, S&C Is Top M&A Law Firm for Global and U.S. Deals in 2022, S&C Advises Diebold in Innovative Multibillion Dollar Global Debt Restructuring Transactions, S&C Advises Underwriters in Gaush Meditechs IPO, S&C Prevails for AT&T as Second Circuit Rejects Shareholder Suit, Legal Developments Affecting the Workplace. This can be compared to Los Angeles, CA, where Sullivan & Cromwell employees earn an average salary of $143,041. Suydam, who has served in the role since 2006, will become senior advisor and remain an Apollo partner, the company said. Jay Clayton, a partner at Sullivan & Cromwell, is at the top of his game and it says something about being a partner in BigLaw. Having an alumnus in a top legal position at a private equity group is a significant coup for law firms, as it can lead to lucrative advisory work. Privacy Center | The initial screening was very easy and focused heavily on your college experiences/major. Occasionally, the information comes out in a law firm break-up or with mandatory disclosures such as Clayton's. The average Sullivan & Cromwell salary is $135,120. Some Clues From His Will. https://www.sullcrom.com. Sullivan & Cromwell enjoys a reputation for the highest quality of lawyers and work, and the Firm's record of achievement results from the efforts of excellent staff, both legal and support. The data presented on this page does not represent the view of Sullivan & Cromwell and its employees or that of Zippia. Heres How To Get Yours Right. There is a significant gap between what Sullivan & Cromwell pays the bottom 10 percent of earners and the top 10 percent of earners. Lets say Clayton received a bonus for 2015 work at some point in calendar year 2016, and then received a bonus for 2016 work early in calendar year 2017, before he filed his disclosure form (on January 24, 2017). Throughout its long history, our Firm has been involved in some of America's greatest industrial, commercial and financial enterprises, from the formation of Edison General Electric Company in 1882 and United States Steel Corporation in 1901 to its . Please enter a search term or select a suggested term from the list. Stay informed. This stellar PEP is derived from revenues of $1.77 billion (1.47 billion). 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