Of Counsel

Vice president: it’s the perfect Gen X job, isn’t it? To have no responsibility, to have only the perks of what was left behind by the responsible people.

– Generation X icon Elizabeth Wurtzel — author of Prozac Nation (affiliate link), and, until recently, a litigatrix at Boies Schiller — commenting to the New York Times about a fellow Gen X member, Paul Ryan, being picked as the presumptive Republican nominee for vice president.

Counsel bonuses: a black box.

We’ve devoted extensive coverage to associate bonuses. But what about bonuses for those lawyers who are neither associates nor partners (nor staff attoneys), referred to by most large law firms as “counsel”? How much are they getting in bonuses this time around?

Many Biglaw bonus memos contain language stating that counsel bonuses are determined separately from associate bonuses and on an individual basis. As a result, the bonus market for counsel — or “special counsel,” or “of counsel,” or “senior attorneys,” or whatever your firm might call these folks — isn’t very transparent.

Some readers have asked Above the Law to help….

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