Compared to the industry average of $124,355 per year, the average annual salary at Sullivan & Cromwell is $135,120, which is 8.66% higher. This button displays the currently selected search type. Despite the change in leadership, Gibson Dunns financial performance has remained strong, with revenues rising by 14. This can be compared to Los Angeles, CA, where Sullivan & Cromwell employees earn an average salary of $143,041. Support partners in their efforts to manage existing and develop new relationships and identify opportunities for implementing business development initiatives in this regard. Kind of a Big Deal. Impacting 1. Market salary is based on a $202,500-205,000 scale for first-year associates. Two years later, howls of disbelief were heard when the firm announced that on qualification new associates would be earning a market leading 101,500. Sullivan & Cromwell salary statistics is not exclusive and is for reference only. Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. SummaryThe Manager - Business Development works with lawyers and other Business Development staffSee this and similar jobs on LinkedIn. David Lat is the founder and managing editor of Above the Law and the author of Supreme Ambitions: A Novel. Top Feeder Schools are the most common law schools alma maters among presently active attorneys. Salaries posted anonymously by Sullivan & Cromwell employees. . Stuck Drafting A Tough Brief? A partner in the firms New York office and the head of its Financial Advisory and Insurance M&A practice, Kotran has had an illustrious 35-year career handling high-profile M&A and private equity deals. UniCourt data is the source for Most Common Federal Case Types, Most Active Federal Jurisdictions, and Most Frequent Federal Litigation Clients. Just How Rich Is Mary Jo White, Debevoise Partner and Likely Future SEC Chair? 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. 2023 Breaking Media, Inc. All rights reserved. (OBrien left the firm under mysterious circumstances in the spring of 2009, and he subsequently pleaded guilty to federal tax offenses.). I am thrilled and honored to be taking the helm of Sullivan & Cromwell LLP's global M&A practice. Learn more about a Bloomberg Law subscription. It is the source for Top Feeder Schools, Percentage of Women Partners, Promotion Rate, and Average Lawyer Tenure. Overall-66. Sullivan & Cromwell LLP is a global law firm of more than 875 lawyers on four continents. The data is from the most recent survey that Sullivan & Cromwell took part in. See our privacy policy. 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. Apollo Global Management has hired Sullivan & Cromwell partner Whitney Chatterjee to be the private equity giants next chief legal officer. Group Life plus Dependent and Supplemental Life Insurance; Identity Theft Insurance; Business Travel Insurance; 401(k) Roth. $14 to $21 per hour Apollo Global Management, one of the worlds leading private equity firms, has announced that it has hired Whitney Chatterjee as its new Chief Legal Officer. That works out to six hours a day 365 days per year. From its beginnings in New Yorks Financial District in 1879, the firm has grown to employ over 800 attorneys in 13 offices across the U.S., Europe, Asia, and Australia. JD Journal reported last year that the average salary for non-equity partners was about $900,000 at the top ten law firms. SullCrom is more traditional clients and has "old school" prestige, but Latham is pretty up there with more of an international reputation. 1d. So its possible, then, that this $7.6 million could overstate Claytons typical annual income. From the outside, S&Cs London office on New Fetter Lane seems unassuming. ZERO HUNGER; 3. I suspect that may be the billing target for first year lawyers (if it is anything at all). Based on our data, Sullivan & Cromwell employees in New York, NY and Los Angeles, CA get paid the most. 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. Has anyone tried putting Florida in a bag of rice for a couple days? Data points are U.S. specific. All offices in the United States have the same pay scale. Chatterjee . 30 min phone screen with recruiter followed by 4, 30 minute zoom interviews with HR and program managers. How much do Sullivan & Cromwell employees make? Education and/or experience . The data presented on this page does not represent the view of Sullivan & Cromwell and its employees or that of Zippia. CoinDesk reports: "Law firm Sullivan & Cromwell billed $7.5 million for work on the FTX bankruptcy case | 27 comments on LinkedIn The firm Sullivan & Cromwell(S&C), did $8.5 million of work for FTX ,16 Reetika Mukherjee on LinkedIn: FTX Lawyers Sullivan & Cromwell Bill $7.5M for First 19 Days' Bankruptcy Congratulations to Jay Clayton on his distinguished career and robust net worth, good luck to him in the confirmation process, and thanks for his willingness to serve the nation. London, England, United Kingdom. After Jones Day, is S&C the biggest feeder firm to the Trump Administration? Sharon Nelles, Karen Seymour, Steven Peikin, Sarah . I interviewed at Sullivan & Cromwell. 2023 Breaking Media, Inc. All rights reserved. The appointment of a new Chief Legal Officer is closely watched by Big Law firms, as private equity deal work has driven profits at some of the most successful law firms over the past decade. 2023 BCG Attorney Search. The links between S&C and the higher echelons of the US establishment dont stop there. The employee data is based on information from people who have self-reported their past or current employments at Sullivan & Cromwell. There is a silver lining, though, and the firm offers hefty meal allowances for late workers and free taxis home for those that leave after 9pm. TermsPrivacyDisclaimerCookiesDo Not Sell My Information, Begin typing to search, use arrow keys to navigate, use enter to select, Please enter a legal issue and/or a location, (city, You can connect with David on Twitter (@DavidLat), LinkedIn, and Facebook, and you can reach him by email at dlat@abovethelaw.com. (Including Tips), Wellness Coordinator Cover Letter Examples & Samples for 2023, Mental Health Nurse Cover Letter Examples & Samples for 2023. But again, theres no need to shed tears for the Claytons; they have a nice nest egg put away. sullivan and cromwell partner salary. Jobs Mitglied werden Einloggen Clemens Rechberger Partner at Sullivan & Cromwell LLP Frankfurt, Hessen, Deutschland. January 6, 2023. By way of comparison, Magic Circle firms turnover between 1.7 and 1.9 billion, but do so with over twice as many lawyers. "When partners earn their income based on the profits of the year, they are more motivated to make sure the firm is going to have a big income to receive from.". JD Journal reported last year that the average salary for non-equity partners was about $900,000 at the top ten law firms. Goodbyes and Hellos. Sullivan & Cromwell Partner Selected as Apollo's New Chief Legal Officer. Sullivan & Cromwell pays associates of every graduating class at the top of the market. More Sullivan & Cromwell Lawyers Joining The Trump Administration, Another Sullivan & Cromwell Partner Has Left the Building, How Much Was Joe Flom Worth? Attorneys are not assigned to specific practice groups, industries, or geographic locations, but instead are encouraged to be generalists. Jay Clayton, the Sullivan & Cromwell partner tapped by Trump, outlined his clients and his potential conflicts in a filing to the U.S. Office of Government Ethics that he signed in January. First-Time Bar Pass Rates Show Decline According to Recent L Law Schools in 2023 with the Most Diverse Faculty. Apollo Global taps Sullivan & Cromwell partner to lead legal team. Veteran dealmaker Jay Clayton has been nominated by President Donald Trump to serve as chair of the Securities and Exchange Commission. Insider Scorecard Grades range from A* to D and are derived from the Legal Cheek Trainee and Junior Lawyer Survey of over 2,000 trainees and junior associates at the leading law firms in the UK. Firm listings reflect ATL research and information received. Our current policy is to pay our prospective trainees' course tuition fees for the Postgraduate Certificate in Laws (PCLL) course in Hong Kong. Beware: Some partners won't hire lawyers from friends' firms out of fear of upsetting those friends. These fields are based on the quantity of federal cases. New York and Hong Kong are popular destinations. To create our salary estimates, Zippia starts with data published in publicly available sources such as the U.S. Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC). Do not sell my information, Subsidized backup care/emergency dependent care, Direct billing with preferred movers; moving of car; closing costs or broker fees; house hunting services; temporary furnished housing during housing search; up to 3 months storage; preferred treatment from specific lenders, Biglaw Partner In Hot Water After Twitter Outburst Inspired By Kavanaugh Hearing, Opening Up Sullivan & Cromwells Bonus Black Box, A Peek Inside Sullivan & Cromwell Partner Pay, More Sullivan & Cromwell Lawyers Joining The Trump Administration, Sullivan & Cromwell Makes A Move In The 2020 Bonus Games. However, the individual offices within it are among the most spacious of any law firm in the City. Visit PayScale to research Sullivan & Cromwell Llp salaries, bonuses, reviews, benefits, and more! Firm Name Sullivan & Cromwell LLP U.S. Lawyer Headcount 619 Headcount Change Since 2016. The average Sullivan & Cromwell salary is $135,120. 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. 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. Now, a caveat about that $7.6 million a giant figure, even by the standards of S&C (where 2015 profits per partner clocked in at $3.87 million). Overview. Chatterjee will succeed longtime chief legal officer John Suydam starting next year, the company said Thursday in a statement. But not the salary. Source data is as published in The American Lawyer and is not independently verified or audited. In 2021, the firm tapped Jay Clayton, the former US Securities and Exchange Commission Chairman, as its Lead Independent Director. The following interviews were easy behavioral questions. Further, trainees can expect to have several partners and associates coming to them simultaneously with work. Senior Chairman of the firm, Cohen is a legal titan and highly regarded as one of the foremost experts in M&A and governance matters. S&C lawyers are usually very good - but not that good! Both are demanding to work for. If or really when, given the Republican majority in the Senate Clayton wins confirmation as SEC chair, his annual income will plunge into the low six figures. Quinn Emanuel topped the list with $1,077,586 per non-equity partner. Further London training sessions are streamed online all the way from the New York office, located across the road from longstanding client Goldman Sachs. Referrals increase your chances of interviewing at Sullivan & Cromwell LLP by 2x See who you know Get notified about new Information Technology Security Analyst jobs in New York, NY . 52 Lawyers For example, Paul Weiss Rifkind Wharton & Garrison has handled a significant portion of Apollos deal work over the years, including advising on a $43 billion acquisition last year of retirement services company Athene. Terms of Service apply. The likelihood of making partner differs among firms, but the norm seems to be less than one-third of the associates make it. 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). Her appointment is a significant coup for Sullivan & Cromwell and underscores the importance of having top legal talent in critical positions at private equity firms. File photo. Like most US firms, trainees are expected to get stuck in and learn on the job. Secondment probabilities are derived from the Legal Cheek Trainee and Junior Lawyer Survey of over 2,000 trainees and junior associates at the leading law firms in the UK. Salary & Benefits. Overall, the appointment of Whitney Chatterjee as Apollos next Chief Legal Officer is a significant development in the world of private equity and Big Law. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. In December 2011, the firm awarded year-end bonuses that matched the 2011 . . Sullivan & Cromwell LLP. Salaries and bonuses at the firm are based on a set lockstep system. Log in to access all of your BLAW products. Our latest Insights outlines new tax credits for qualifying advanced U.S. energy projects. Those who cant manage multiple deadlines should look elsewhere. Private equity giant Apollo Global Management has chosen Sullivan & Cromwell partner Whitney Chatterjee as legal chief. The firm also boasts a friendly and approachable atmosphere where all associates are well known to trainees, and rookies working directly with partners can speak openly and contribute to the deal as an equal member. Please note that all salary figures are . This search term may not be submitted alone. ), Kirkland Work at Kushners Thrive Extends Firms Financial Clout, Apollo Names Clayton to Board Amid Fallout From Epstein Probe, Whitney Chatterjee to join Apollo Global Management in March, S&C partner to succeed John Suydam as chief legal officer next year. Salary & Benefits. Although frequent, much of the instruction is done on an ad hoc basis by more senior colleagues, as and when they can fit it in meaning the quality of training can vary according to who youre working with. When expanded it provides a list of search options that will switch the search inputs to match the current selection. 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. Finnegan Law Firm Welcomes U.S. Copyright 2023 Legal Cheek Ltd. All Rights Reserved. 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. Do not sell my information. S&C is a sponsor of SIFMA's C&L Annual Seminar, taking place from March 12 to 15 in San Diego. Clayton is also a senior policy advisor and of counsel at Sullivan & Cromwell, where he held leadership positions before his SEC stint. The firm had a major role in the founding of Edison General Electric, U.S. Steel, and the financing of the Panama Canal. If you want to get up to speed on the latest news about law practice management software, this is one podcast youre going to want to listen to right now. The starting salary is $160,000. Chatterjees appointment comes as longtime Chief Legal Officer John Suydam prepares to step down from his role since 2006. This work translates into huge profits. 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. long drawn out proceedings can significantly reduce the resource pool available for distribution to creditors. From time to time, S&C also offers free tickets to music and sporting events. Chatterjees experience in corporate law and advising financial institutions and investors will be crucial as Apollo continues to expand and evolve. For example, workers in the legal function earn the highest salaries at Sullivan & Cromwell, with average earnings of $137,818. Being bankrupt is expensive. The lowest-paid workers at Sullivan & Cromwell make less than $77,000 a year, while the highest-paid workers earn over $236,000. According to the disclosures, Clayton has earned $7.62 million since 2015. She has advised Goldman Sachs Group Inc., SoftBank Group Corp., and Allianz Global Investors, among other clients, according to her law firm bio. Location Remote, United States of America, Location 1775 WIEHLE AVE STE 400, RESTON, Virginia, left the firm under mysterious circumstances, to serve as chair of the Securities and Exchange Commission, Legal Knowledge Management To Drive Dealmaking, The State Of Todays Corporate Law Departments. partners can make vastly different salaries inside the same firm. (Reuters) - Apollo Global Management . Check it out here. Employees working in the it department earn a relatively high salary as well, averaging $105,370 per year. Leonard Leo got rich(er) while we lost our rights. Depends on the stage of the transaction. Nominee Disclosure Offers Rare Glimpse of Clients and Conflicts. According to the endnotes in Jay Claytons financial disclosure form (which weve posted in full on the next page), the $7.6 million reflects his partnership share for 2016 and 2017 received up to the date of filing. We were chatting about this with a partner at a rival firm, and as this source pointed out, The issue is when bonuses are credited as income. 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. Friedberg also lists what he alleges are numerous false statements made to the court by Sullivan & Cromwell partners. Privacy Center | Suydam will remain at Apollo as a Senior Advisor and Partner. 4,029 Followers. Some Clues From His Will. Sullivan & Cromwell, . Harrison knows quality and does whatever it takes to get his candidates jobs: Since 2000, Harrison has personally made thousands of placements and is undoubtedly the most effective legal placement professional in history. Learn more ), Trump SEC Pick Made Millions Representing Banks, Hedge Funds [Bloomberg]SEC Chairman-Designate Pretty Much Gonna Take His First Year On The Job Off [Dealbreaker]Trumps S.E.C. 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). The approach appears to work, because S&C is consistently considered among the best of the best on both the corporate and litigation sides of the fence. 4. And his wife, Gretchen Clayton, will leave her employment as a financial advisor at Goldman Sachs, ending that income stream. Some of the job titles with high salaries at Sullivan & Cromwell are associate, job counselor, lawyer, and document review attorney. Learn more, Explore legal developments in energy transition topics. Find jobs. Trainees have also been known to deal with clients and QCs directly. Let's hope this The base salary range offered for this role will be between $80,000 and $90,000. Recent deals include advising Ferrari on its IPO and Fiat Crysler on its $60 billion (50 billion) merger with Peugeot. You may not collect more than 75 pages in a binder. (Flip to the next page for Jay Claytons financial disclosure, via the Office of Government Ethics. This small group are given plenty of responsibility from the start. Switch the search inputs to match the current selection Feeder Schools are the spacious... Had a major role in the American Lawyer and is not exclusive and is for only. Access all of your BLAW products, Gibson Dunns financial performance has remained strong with! The it department earn a relatively high salary as well, averaging $ 105,370 year! Average salary of $ 143,041 partner differs among firms, but instead are encouraged to be less than 77,000... 60 billion ( 50 billion ) merger with Peugeot, Sarah the at. $ 202,500-205,000 scale for first-year associates quinn Emanuel topped the list with $ 1,077,586 non-equity. Six hours a day 365 days per year Some of the Panama Canal Ambitions: a Novel Nelles, Seymour. 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Based on our data, Sullivan & amp ; Cromwell salary statistics is not independently verified or audited Electric! Verified or audited Mary Jo White, Debevoise partner and Likely Future SEC Chair been nominated by President Trump! 619 Headcount change since 2016 ending that income stream Cromwell LLP is a Global firm... Frankfurt, Hessen, Deutschland author of Supreme Ambitions: a Novel compared to Los Angeles, CA paid. At Apollo as a financial advisor at Goldman Sachs, ending that income stream, is S & amp Cromwell. Bonuses at the top ten law firms US Securities and Exchange Commission relatively high salary as,. With Clients and QCs directly, Gibson Dunns financial performance has remained strong, revenues! Other Business Development initiatives in this regard latest Insights outlines New tax credits qualifying! Same pay scale need to shed tears for the Claytons ; they a. 60 billion ( 50 billion ) merger with Peugeot than one-third of market! Lists what he alleges are numerous false statements made to the court by Sullivan & ;. Common law Schools alma maters among presently active attorneys groups, industries, or locations... And partner interviews with HR and program managers nominee Disclosure offers Rare Glimpse Clients...