Biglaw, Bonuses, Boutique Law Firms, Kellogg Huber, McKool Smith, Money

Associate Bonus Watch: A Tale Of Two Litigation Powerhouses

One issue with working at a focused firm: your financial fortunes will fluctuate.

By  
on

When some people read about $350,000 bonuses at Boies Schiller, they might think to themselves, “Dayum! I should go work for an elite litigation firm.”

But there are risks associated with working at a focused firm. When the firm’s practice area is booming, bonuses are big. But when that practice area slows down or even dies, perhaps due to a shift in the economy or a change in the law, things can get ugly — fast.

At least full-service Biglaw firms, with diversified practice areas, can weather storms better. If transactional work slows down, maybe litigation or bankruptcy can pick up the slack. If the domestic economy tanks, maybe international offices will offer a hedge. (This is the theory, at least; boy Dewey know of exceptions.)

Today’s bonus post, about two leading, litigation-focused firms, provides an illustration. One firm is making it rain, while another firm is raining on the parade.

We’ll start with the good news out of Kellogg Huber, the uber-elite, D.C.-based litigation boutique. Here’s what we’ve heard about their bonuses and their current compensation system:

1. Year-end bonuses ranged from $100K to $300K for 2014.

2. The firm pays base salaries that are well above market: $225K for the first two years at the firm, followed by $275K after that. (Note that Kellogg Huber associates generally come to the firm after one or more clerkships.)

Sponsored

3. All associates who join the firm get a starting bonus of $175K.

4. As previously reported, the firm pays a $330K signing bonus to Supreme Court clerks.

Does all this sound great to you? Well, note these words from one of our tipsters at the firm: “Of course, everything has a downside. Average hours north of 2500.”

The other “downside” of Kellogg Huber: the difficulty of landing a job there. The firm’s Careers page gives you an idea of the type of talent they’re looking for:

We plan to add more first-rate attorneys to our roster, which currently includes 17 former Supreme Court clerks, six former Assistant United States Attorneys, two former Assistants to the Solicitor General, and four former Bristow fellows. Other attorneys at our firm have served in senior positions at the White House and the Justice Department. Our new associates typically join us from federal clerkships. Our compensation is more than competitive.

Sponsored

“More than competitive,” indeed. If you have these types of credentials and are willing to work like a dog very hard, Kellogg Huber might be for you.

Now, on to our second story, the sad tale of a former compensation leader brought low….

1 2Next »
Bonus Time

Enter your email address to sign up for ATL's Bonus & Salary Increase Alerts.

Topics

, , , , , , ,