"The firm is offering base bonuses on the Cravath/Milbank scale for 1900 hours billed, and for every hundred hours billed above that, even more money is added, up to $215,000 for its busiest senior associates. On top of that, the firm awards associates with individualized merit bonuses based on "leadership, contributions to firm culture and morale, training and mentoring team members, maintenance and expansion of client relationships, as well as countless intangible contributions [made] to the firm and [its] clients." Check out Gjerset's bonus grid, which details maximum bonus potential of up to $355K."
"But that's not all! The firm is offering additional special bonuses up to $160,000 on top of its already huge bonuses, to be paid out over the next four quarters, with the first installment due on March 31, 2025. "We appreciate that over the course of the year, we all face challenges, periods of overwhelming work, small victories, and small losses," write the partners. "We intend for these special bonuses to provide a more contemporaneous recognition of how much our firm values you as part of the team.""
Boutique firms continue to lead associate compensation this bonus season. Gjerset & Lorenz, a healthcare boutique in Austin, Texas, is offering substantial year-end compensation. The firm applies base bonuses on the Cravath/Milbank scale for 1900 billed hours and adds incremental payments for each additional 100 hours, reaching up to $215,000 for the busiest senior associates. Associates also receive individualized merit bonuses tied to leadership, culture, mentoring, client relationship growth, and intangible contributions, producing maximum bonus potential up to $355K. The firm will pay additional special bonuses totaling up to $160,000 over four quarters, beginning March 31, 2025.
Read at Above the Law
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