Boutique companies proceed to dominate on the subject of affiliate compensation this bonus season. Loads of companies can match Cravath’s year-end bonuses and Milbank’s particular bonuses, however these small however mighty boutiques are greater than prepared to blow the prevailing market charges out of the water.
Gjerset & Lorenz, a healthcare boutique situated in Austin, Texas, is as soon as once more providing up some gigantic bonuses which might be positive to make associates really feel really valued.
The agency is providing base bonuses on the Cravath/Milbank scale for 1900 hours billed, and for each hundred hours billed above that, much more cash is added, as much as $215,000 for its busiest senior associates. On high of that, the agency awards associates with individualized benefit bonuses based mostly on “management, contributions to agency tradition and morale, coaching and mentoring crew members, upkeep and enlargement of shopper relationships, in addition to numerous intangible contributions [made] to the agency and [its] purchasers.” Take a look at Gjerset’s bonus grid, which particulars most bonus potential of as much as $355K.
However that’s not all! The agency is providing further particular bonuses as much as $160,000 on high of its already enormous bonuses, to be paid out over the subsequent 4 quarters, with the primary installment due on March 31, 2025. “We respect that over the course of the yr, all of us face challenges, durations of overwhelming work, small victories, and small losses,” write the companions. “We intend for these particular bonuses to supply a extra contemporaneous recognition of how a lot our agency values you as a part of the crew.”
Congratulations to everybody at Gjerset & Lorenz!
Keep in mind everybody, we rely in your tricks to keep on high of compensation updates, so when your agency declares or matches, please textual content us (646-820-8477) or e-mail us (topic line: “[Firm Name] Bonus/Matches”). Please embody the memo if out there. You may take a photograph of the memo and ship it by way of textual content or e-mail if you happen to don’t wish to ahead the unique PDF or Phrase file.
And if you happen to’d like to enroll in ATL’s Bonus Alerts (which is the alert checklist we additionally use for wage bulletins), please scroll down and enter your e-mail handle within the field beneath this put up. In the event you beforehand signed up for the bonus alerts, you don’t have to do something. You’ll obtain an e-mail notification inside minutes of every bonus announcement that we publish. Thanks to your assist!
Staci Zaretsky is the managing editor of Above the Regulation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to e-mail her with any ideas, questions, feedback, or critiques. You may observe her on Bluesky, X/Twitter, and Threads, or join together with her on LinkedIn.
