Bonus time is exciting in Biglaw, in that there’s a lot of money headed to associates’ bank accounts. But it *can* be a little boring in that after the market rate (this year a combination of year-end and special bonuses) is set, most of Biglaw merely follows suit.
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. The TL;DR version is that a lot of associates at BSF are taking hone more money than their peers at other Biglaw firms.
- 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.
- The total Formula Compensation bonus pool for all associates who were with the Firm for the entire compensation year was 197% of what that bonus pool would have been on the “market system.”
- That’s right: In total, the Firm paid out nearly twice as much in associate bonuses as it would have on market. As usual, we are happy to do it, because you earned it.
Bonuses will be paid to associates this week.
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Read the full memo below.
It has been an incredibly busy 2025 for Boies Schiller Flexner and our clients, filled as usual with trials, hearings, and appellate arguments. We secured big wins for plaintiffs and defendants alike, and for individuals, corporations, and classes. The work of our associates was critical to that success, as it is every year, given the responsibilities you handle in and out of the courtroom. On behalf of BSF, we thank you and your loved ones for your important contributions.
While we do this job for many reasons beyond money, the Firm’s unique Formula Compensation system ensures that all of our lawyers—associates, counsel, and partners alike—share in the Firm’s success and have a personal stake in their work. Because Formula Compensation calculations are unique to each individual, bonuses necessarily vary depending on hours, the nature of the work, any premium recoveries, business generation credits, and other considerations. But as usual, across the Firm, Formula Compensation results in compensation that compares favorably to the market:
- The prevailing market bonus scale at other firms ranges from $21,000 (for class of 2025, prorated) to $140,000 (for class of 2018 and above). These figures include the “special bonuses” that many firms are awarding.
- 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.
- The total Formula Compensation bonus pool for all associates who were with the Firm for the entire compensation year was 197% of what that bonus pool would have been on the “market system.”
- That’s right: In total, the Firm paid out nearly twice as much in associate bonuses as it would have on market. As usual, we are happy to do it, because you earned it.
Bonus payments will be distributed this week to all associates in good standing, and the Finance Department will follow with details regarding all attorneys’ Formula Compensation calculations.
On behalf of the partners, we thank you all for your commitment to the Firm and our clients. Our collective growth and success depends on your good work.
We look forward to seeing most of you and your families in Florida at our annual Firm retreat later this week.
The Managing Partners
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 or Mastodon @Kathryn1@mastodon.social.
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