Home

Boies Schiller & Flexner Leads in Associate Bonuses
Download PDF

At long last, associate bonuses are starting to reflect partner takeaways in law firms. While in general the industry had been crying foul and adjusting to recession after-effects and rapid changes in technology, the income of partners in big law firms had kept rising. However, the recession was the excuse with which law firms had been pushing associates to the wall, and still keeping at it. But Boies Schiller, on Wednesday, showed their human e side by paying out associate bonuses ranging from $25,000-$250,000, which is in step with the actual economics of law firms and the recovery from recession.

Though the step may not go down well with other law firms, Boies Schiller bonuses outdid leading law firms like Cravath, Skadden, Simpson Thacher and others, who have announced associate bonuses between $10,000 and $60,000 for associates – mere peanuts before what Boies is paying.

There is another thing special with bonuses – while other law firms use bonuses as an aggressive retention strategy and pay higher bonuses to senior associates who have been working longer at the law firms, Boies takes a lot of factors into account , of which seniority is only one. Bonus in Boies is determined on many factors including billable hours logged in, billing rates, associate bills and others.

  
What
Where


While last year, the high-end bonuses at Boies had been an average of $75,000, the leap to an average of $200,000 has shocked the industry where many believe  in wringing as much from law firm associates as possible.

Even associates who joined Boies Schiller this fall received $5000 in bonuses.

While in many law firms, partners cared little about associates, and looked towards increasing their own income, Boies Schiller partners cut their own annual bonuses from 2008 to battle the recession and ensure fair payments to associates.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Attorney with 3-7 years of litigation experience

USA-IL-Chicago

Chicago office of our client seeks attorney with 3-7 years of litigation experience. The candidate s...

Apply Now

Defense Attorney with 3-4 years of litigation experience

USA-CA-San Francisco

San Francisco office of our client seeks defense attorney with 3-4 years of solid litigation experie...

Apply Now

Mid-level IP Litigation Attorney with electrical engineering experience

USA-CA-San Francisco

San Francisco office of our client seeks mid-level intellectual property attorney with 3-5 years of ...

Apply Now

Labor and Employment Attorney with 3-4 years of litigation experience

USA-CA-Los Angeles

Los Angeles office of our client seeks labor and employment attorney with 3-4 years of litigation ex...

Apply Now

RELEVANT JOBS

In-house Counsel / Securities Attorney

USA-NY-Manhattan

Multi-billion and growing Midtown-based Real Estate focused Alternative Investment Manager sponsorin...

Apply now

In-house Counsel / Transactional Real Estate Attorney

USA-NY-New York City

Multi-billion and growing Midtown-based Real Estate Private Equity firm sponsoring a multi-family NY...

Apply now

Associate Attorney

USA-MN-Hibbing

Busy Northern Minnesota practice seeking associate attorney preferably with general practice experie...

Apply now

Litigation Associate

USA-NV-Las Vegas

Bailey Kennedy seeks a litigation associate with one to four years of experience to work on complex ...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top