A number of American boutique law firms that specialise in litigation are topping the bonus scale set by Cravath, Swaine & Moore this year.
Susman Godfrey is the latest to announce market-beating bonuses for 2017. The firm’s median bonuses pay as much as US$170,000 to its most senior associates, the American Bar Association said. Two of their associates received bonuses of more than US$220,000 for their business development work.
These bonuses outstrip the standard set by usual first-mover Cravath. The elite New York firm announced the following bonuses, ordered by class, to associates in late November:
- 2017 - US$15,000 (pro-rated)
- 2016 - US$15,000
- 2015 - US$25,000
- 2014 - US$50,000
- 2013 - US$65,000
- 2012 - US$80,000
- 2011 - US$90,000
- 2010 - US$100,000
- 2009 - US$100,000
Susman Godfrey’s median bonuses for associates are:
- 2015 - US$45,000
- 2014 - US$85,000
- 2013 - US$100,000
- 2012 - US$120,000
- 2011 - US$150,000
- 2010 (or earlier)- US$170,000
The firm’s class of 2015 is the comparable class to Cravath’s class of 2016, as Susman Godfrey requires all lawyers to finish at least one clerkship. Many of the boutique’s lawyers finish two or more clerkships, including in the Supreme Court of the United States.
That requirement, however, has paid off for the boutique and its lawyers, with the firm being considered America’s top boutique law firm that specialises in litigation. It often goes toe to toe with far larger law firms.
This year, Susman Godfrey launched a US$25,000 signing bonus for lawyers on top of the bonus it gives for lawyers who already have clerkships under their belt. The latter bonus pays out US$80,000 for a clerkship with a federal judge. All of these are on top of the salary for associates, which reportedly starts at US$190,000.
Earlier this month, Wilkinson Walsh + Eskovitz also topped the Cravath scale with the following bonuses:
- 2016 - US$22,500
- 2015 - US$37,500
- 2014 - US$75,000
- 2013 - US$97,500
- 2012 - US$120,000
- 2011 - US$135,000
- 2010 (and earlier) - US$150,000
Top litigation boutique Hueston Hennigan also paid bonuses that are 30% to 50% of associate salaries earlier this month.
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