$300,000 Bonuses For Junior Associates? Bonuses 8x The Market Rate? This Biglaw Firm's Spin On Bonuses Brings In A LOT Of Cash - Above the Law

"But not Boies Schiller. The firm, which took in $387,400,000 gross revenue last year making it 118th on the Am Law 200, has its own idiosyncratic method for paying bonuses. They're individualized at the firm, so there's not a handy schedule of bonus rates to share with the world. But in Boies Schiller's firmwide announcement, they do point out some pretty impressive highlights."

"This year, more than 88% of BSF associates received a bonus that was at least as high as, and in most cases higher than, what that associate would have received under the market system. Those that did not, generally invested material time on one or more contingency cases that have not yet paid out. Numerous associates, including some very junior ones, received bonuses far in excess of the very top of the market-and that includes the "super bonuses" that some other firms have announced."

"In total, nearly 20% of all associates received bonuses at or above the very-top-of-the-market scale-meaning that they got bonuses equal or greater to what an 8th year associate would have gotten on the market scale. But at BSF, many of the associates who received those above-the-top-of-the-market bonuses were far more junior including, for example, associates from the classes of 2023 and 2024 who received bonuses in excess of $200,000 or even $300,000. The top associate bonuses this year were more than 8 times what those associates would have earned under the market system."

Boies Schiller uses individualized, firmwide bonus determinations rather than following the market schedule. The firm reported $387,400,000 in gross revenue last year and ranks 118th on the Am Law 200. Over 88% of associates received bonuses at or above what they would have gotten under the market system; those who did not generally worked significant time on contingency matters without payouts yet. Nearly 20% of associates received bonuses at or above the very-top-of-the-market scale, including many junior associates from the classes of 2023 and 2024 who received six-figure payments.

Read at Above the Law