That’s quite a bit above market.
\nThe post Top Firm Handing Out MILLION DOLLAR Bonuses To Some Associates appeared first on Above the Law.<\/p>\n
![\"Businessman](\"https:\/\/i0.wp.com\/abovethelaw.com\/wp-content\/uploads\/2021\/06\/GettyImages-889538290-300x240.jpg?resize=300%2C240&ssl=1\" "\\"\\"")
Austin Powers nostalgia requires placing a pinky to your lips whenever one dramatically says \u201cone million dollars.\u201d That\u2019s the gesture that more than a few associates at Boies Schiller are making right now upon learning that their contributions to the firm netted them a seven-figure bonus this year.<\/p>\n
With $246,000,000 gross revenue in 2023, placed Boies Schiller at 150 in the Am Law 200, however the small but mighty firm hit that number with only around 150 lawyers. It also doesn\u2019t rely entirely upon billable work, with the firm generating a significant share of revenue from contingency cases that can produce annual revenue windfalls.<\/p>\n
And the firm offers associates the opportunity to partake in the reward. Associates can choose to take a match of this year\u2019s market bonuses \u2014 with special bonus too \u2014 but most eschew the lockstep model in favor of a formula that evaluates associates individually. Unlike most black box models of compensation though, the Boies Schiller formula blows by the competition:<\/p>\n
The key nugget from the second item is that the 5 percent of associates who didn\u2019t make the market standard are waiting on contingency payouts. It\u2019s the nature of the bonus memo season blitz that we only get these insights into total compensation in December and don\u2019t get the opportunity to follow up and see where everyone ends up when defendants finally pay up. But it\u2019s a decent wager that they\u2019ll not only end up at the market level but well above it.<\/p>\n
Bonuses will be distributed this week.<\/p>\n
Congratulations to all.<\/p>\n
(Memo reproduced on the next page\u2026)<\/p>\n
Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or\u00a0email us<\/a>\u00a0(subject line: \u201c[Firm Name] Matches\u201d). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don\u2019t want to forward the original PDF or Word file.<\/p>\n And if you\u2019d like to sign up for ATL\u2019s Bonus Alerts (which is the alert list we\u2019ll also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don\u2019t need to do anything. You\u2019ll receive an email notification within minutes of each bonus announcement that we publish.<\/p>\n 1<\/strong> 2<\/a>Next \u00bb<\/a><\/p>\n That’s quite a bit above market. The post Top Firm Handing Out MILLION DOLLAR Bonuses To Some Associates appeared first on Above the Law. Austin Powers nostalgia requires placing a pinky to your lips whenever one dramatically says \u201cone million dollars.\u201d That\u2019s the gesture that more than a few associates at Boies Schiller are making […]<\/p>\n","protected":false},"author":0,"featured_media":97615,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,17],"tags":[],"class_list":["post-97614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-above_the_law","category-legal_matters"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/xira.com\/p\/wp-content\/uploads\/2024\/12\/GettyImages-889538290-scaled-DgScrI.jpeg?fit=2560%2C2048&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/97614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/comments?post=97614"}],"version-history":[{"count":0,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/97614\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/media\/97615"}],"wp:attachment":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/media?parent=97614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/categories?post=97614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/tags?post=97614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Headshot\"](\"https:\/\/i0.wp.com\/abovethelaw.com\/wp-content\/uploads\/2016\/11\/Headshot-300x200.jpg?resize=188%2C125&ssl=1\" "\\"\\"")
Joe Patrice<\/a>\u00a0is a senior editor at Above the Law and co-host of Thinking Like A Lawyer<\/a>. Feel free to\u00a0email<\/a> any tips, questions, or comments. Follow him on\u00a0Twitter<\/a>\u00a0or Bluesky<\/a> if you\u2019re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search<\/a>.<\/em><\/strong><\/p>\n![\"Bonus](\"https:\/\/i0.wp.com\/abovethelaw.com\/wp-content\/uploads\/2017\/11\/bonus-time-Biglaw-bonuses-money-law-firm-bonus.jpg?resize=600%2C468&ssl=1\" "\\"\\"")
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