Posted Dec 14, 2007 12:21 pm CST
A “knowledgeable source” tells the blog Above the Law that Boies, Schiller & Flexner is raising starting pay for associates to $168,000.
The pay hike was announced at a firm meeting last weekend in Jamaica, according to the blog. Second-year associates will be paid $180,000, with the amount then increasing by $21,000 for each additional year at the firm.
Top pay for new associates at most big law firms is currently $160,000, although the amount doesn’t include bonuses.
Since Boies ties associate bonuses to the revenue they generate, the pay hike won’t have the same impact as higher starting pay at firms with more traditional bonus structures.