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U.S. litigation firm Susman Godfrey has declared that it will distribute year-end bonuses to its associates, reaching unprecedented amounts of between $140,000 and $360,000. This substantial increase, more than double the dividends disbursed last year by the firm, sets Susman Godfrey apart from its larger competitors in the legal industry.
Unprecedented Bonuses Surpass Industry Standards
These bonuses outshine the offerings of other major U.S. law firms, surpassing triple the amounts committed by their counterparts for the current fiscal year. In comparison, Susman Godfrey’s bonuses in 2022 ranged from $85,000 to $160,000, based on seniority, indicating a remarkable escalation in their reward structure.
Contrasting Industry Norms
The commencement of this year’s law firm bonus season witnessed Milbank announcing bonuses ranging from $15,000 to $115,000, a figure matched by other prominent firms such as Cravath and Swaine & Moore. Susman Godfrey’s decision to diverge significantly from these industry standards showcases its commitment to recognizing and rewarding its associates’ hard work and dedication.
Salary Adjustments Reflect Competitive Landscape
In addition to the substantial year-end bonuses, Susman Godfrey has also revealed plans to elevate associate salaries to remain competitive with leading law firms. Associates at the firm will now enjoy wages ranging from $225,000 to $435,000, aligning with the compensation structures adopted by Cravath and other industry giants.
Exceptional Year for Susman Godfrey
The firm’s managing partners, Vineet Bhatia and Kalpana Srinivasan emphasized the extraordinary nature of the current period in the firm’s 40-plus-year history. They attributed this unprecedented move to the firm’s highest-ever revenue and a record number of cases tried over the last year and a half, highlighting a remarkable moment for Susman Godfrey.
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Notable Legal Victories
Susman Godfrey’s exceptional year is underscored by its noteworthy legal victories, including securing a $787.5 million settlement for Dominion Voting Systems. This historic settlement resulted from a defamation lawsuit against Fox News, stemming from reports alleging the involvement of Dominion Voting Systems in a conspiracy to manipulate the 2020 U.S. presidential election.
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