If you previously signed up for the bonus alerts, you don’t need to do anything. But as noted earlier, your mileage may vary, depending on your hours, involvement in contingency cases, and business-generation credit (if any). Chief Product Officer Jeff Pfeifer joins Ian to introduce the Lexis+ platform experience. Here’s a brief explanation from our 2016 post: As we’ve explained in the past, BSF employs a comp system in which an individual associate shares directly in the revenue her work produces for the firm. Associates billing what is generally considered the “good standing” baseline of 2000 hours are making less at BSF than they would at other Biglaw firms. Tell us in a Flashpoll. Sometimes you get randomly assigned to a dog of a case. Legal Ops Leaders: Join the Premier Benchmarking Survey, Mid-Level Commercial Litigation Associate Attorney, Junior to Mid-level / Senior Real Estate Finance, Mid to Senior M&A Corporate Associate Attorney, It’s Election Day, May God Have Mercy On Our Souls — See Also, You Couldn’t Always Drink To Get Through The Anxiety Of Election Day, Even If He Loses Apollo, Leon Black Will Always Have MoMA, LGBTQ+ Families Receive Some Good News, But Trouble Lies Ahead, 3 Questions For A Patent Litigator Turned Political Director (Part II). This is all to say that this may well be a risk worth taking. But that compensation gap is still there even if lawyers aren’t feeling it. Biglaw. Copyright 2020 American Bar Association. If you are a crazy high biller, you beat market here, but otherwise we’re about at market. With 300 lawyers in offices across the United States and in London, Boies Schiller Flexner represents some of the largest and most sophisticated organizations in the world. Subscribe and get breaking news, commentary, and opinions on law firms, lawyers, law schools, lawsuits, judges, and more. Associate Bonus Watch (2014): Boies Schiller Pays Up To $350K You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file. Please include the memo if available. But here at Above the Law, we welcome opposing viewpoints and seek to publish all sides of a story (to the extent that they exist). UPDATE: One point that a tipster made is that part of the issue is so MANY attorneys are billing in the higher register and earning the bigger bonuses that the firm simply can’t afford to be meeting market for those only billing 2000. Shortly afterwards, Susman Godfrey LLP increased its own bonus to $80,000, including an additional $20,000 to those who had completed two clerkships. Join us on December 10th to skillfully integrate data analytics into your day-to-day, ultimately increasing your negotiation, litigation and business development prowess. (Others who get the high bonuses work on contingency, with all the risk that entails, plus the several years of building up your lodestar with no annual bonuses.) And that gap grows as the years go by, with fifth-years earning approximately $20K less than market and sixth-years making about $35K less. Others who went to trial or simply had heavy hours blew away the Cravath scale.”, “Senior associate. Base Salary All offices 1st year: $190,000 2nd year: $200,000 3rd year: $220,000 4th year: $255,000 5th year: $280,000 6th year: $305,000 7th year: $325,000 Summer associate: $3,654/week There is a $105,000 clerkship bonus for Federal judicial clerks. Today the better news comes from the litigation powerhouse of Boies Schiller & Flexner, where the average bonus was $85,000 and the top bonus was $300,000 — even higher than last year’s $250,000… But, nonetheless, I agree with another tipster who wrote, ‘while I would love more transparency around the comp system, I feel very fortunate to work here.'”. And when that happens, it’s worth knowing that you’ll likely be undercompensated relative to your peers. Join us on December 2nd to improve client intake and learn how your law firm can convert marketing budgets into conversions. Clerks who complete two qualifying clerkships would get an additional $20,000 bonus. Associate Bonus Watch (2015): Boies Schiller Pays Up To $350K (Again) Associate Bonus Watch (2014): Boies Schiller Pays Up To $350K Associate Bonus Watch (2013): A $300K Bonus … It is upsetting they promised us New York pay scales, we took the job, and now they’re reneging…. The hope is that the complications of doing this is delaying the raise. Feel free to email any tips, questions, or comments. Subscribe and get breaking news, commentary, and opinions on law firms, lawyers, law schools, lawsuits, judges, and more. Remember, if you work at a firm with individualized bonuses it’s vitally important that you let us know your story or we’ll have no idea what’s going on inside the firm. “It came to our attention that one of our competitors had raised bonuses, and we decided it made sense for us to match them,” name partner A. William Urquhart told Law360. Will These Above-Market Salary Hikes Hurt This Firm’s Bonuses? Of course, there are some “black box” firms and a few gilded outliers such as Wachtell Lipton or Boies Schiller, but generally speaking, ... and will include clerkship bonuses). Now, on to the 2016 bonuses. Now, associates are a self-assured bunch — especially at prestigious outfits like Boies that can afford to hire only the most luxurious ex-Mossad spies for their clients — and they pride themselves for being the go-getters who will never bill less than 2200 hours. Because Boies pays individualized bonuses based on the revenue sharing model outlined above, we don’t have perfect information here, but we’ve gathered enough feedback to paint a broad sketch of the 2017 bonus situation. You’re Not The Only One. Associate Bonus Watch 2016, Associate Compensation, Biglaw, Boies Schiller & Flexner, Bonuses, Money, How Your Firm Can Prosper With PaaS-Based Case Management. 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