Boies Schiller pays bonuses of up to $300,000
Boies, Schiller & Flexner will be richly rewarded for the year’s work, with the firm announcing that it will pay bonuses of up to $300,000 in 2013. The average bonus at the firm is considerably less, at $85,000, but even that figure outstrips the industry standard set by Cravath Swaine & Moore, which pays associates in the range of $10,000 to $60,000.
Name partner David Boies, said the bonuses recognized associates' hard work during a very busy year for litigation. Paying above-market bonuses is good for the firm, he said, because it helps attract top talent.
“To be candid, a majority of firms are run for the partners and not the associates,” he told the Times. “And in the near term, there’s probably not much incentive for them to change their business models.”