Lawyer Pay
Boies Schiller Bucks Trend, Will Pay Some $100K Bonuses
Boies, Schiller & Flexner is keeping bonuses commensurate with those paid last year, awarding some associates more than $100,000 in additional compensation.
Partner Philip Korologos didn’t reveal bonus details in an interview with the Am Law Daily, but said several bonuses will exceed $100,000. That compares to top bonuses of only $32,500 being paid this year at Cravath, Swaine & Moore and Simpson, Thacher & Bartlett. Both firms have cut year-end bonuses in half and have apparently abandoned the additional special bonuses paid last year.
Bonuses at Boies are based on billable hours rather than associate class, the story says. “We haven’t changed our bonus system based on the economic situation,” Korologos told the Am Law Daily.
