Boutique Bonuses Pack a Salary-Size Bang
Boutique firms may not have the same salaries on paper as their large counterparts, but bonuses more than make up the difference, as reported in the Texas Lawyer story Litigation Boutique Pays Salary-Equaling Bonuses. According to the article, Gibbs & Bruns, a Houston litigation firm, paid bonuses to its 10 associates that equaled their yearly base salaries. That's not bad, considering that starting salary for Gibbs & Bruns attorneys is around $127,000, just $8000 less than the standard at large Texas firms. Another litigation boutique, Susman Godfrey reported bonuses of around $86,000 to $150,000 or 75 percent of associate base pay.
There are certainly valid reasons to choose a large firm over a boutique practice. But the lesson here is don't assume that salary is one of those reasons.
Posted by Carolyn Elefant on April 20, 2006 at 02:04 PM | Permalink
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