Another Biglaw firm has decided to play ball with the new bonus scale — set by Cravath yesterday — which ups the take home for most associates by 15 percent over last year’s bonuses. This afternoon, Boies Schiller Flexner announced they will be handing out bonuses on this new and improved scale.
Here’s the bonus scale, which Biglaw watchers are increasingly familiar with — but as you’ll notice, high billers can take down even bigger bonuses:
At Boies Schiller, associates have the option of doing the market bonus system, which will get them the above scale, or they can opt into the firm’s formula compensation system, which includes a revenue share component that affords associates a cut of the matters they work on, which for contingency work can be massive.
You can read the full memo on the next page.
Congratulations to associates on the generous bonuses!
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Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).