Associate Bonus Watch: Who Says Patent Litigation Is Dead?
This high-powered boutique firm pays base salaries that are $20K above market AND generous bonuses on top of that.
As we wait around for the dominant Biglaw starting salary to climb above $160K — don’t hold your breath, you might die — let’s talk about a few firms that already pay above-market base salaries.
One of the most prominent examples is Williams & Connolly. The D.C.-based litigation powerhouse pays a starting salary of $200,000 — but note that it doesn’t pay bonuses.
If you’d like an above-market starting salary and a year-end bonus, what are your options? One very appealing one is the high-powered patent litigation boutique of Desmarais LLP. As we’ve mentioned before, the firm pays $20K above the New York market at each seniority level.
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And it pays great bonuses as well, as we recently learned from a source at the firm:
Here at Desmarais LLP, things are swell. I haven’t looked at all of the NYC bonus numbers, but I think ours are one of the highest. The first two years are:
Class of 2015: $5K (with a starting bonus of $15K for a total of $20K)
Class of 2014 (first full year): $25KThe rest of the bonuses are individualized, but the statistics are:
Median: $130K
Average: Well-above $100K
Top Third: Significantly above $150K
Top Bonus: $225KNeedless to say, everyone’s pretty happy here. This is all on top of the market+$20K salary.
These bonuses are right up there with two other top litigation firms, Susman Godfrey and Boies Schiller, as among the best of the season. (Indeed, they might even be better than Susman or Boies, but I’d hesitate to make such a strong statement without a real audit to confirm everything is apples to apples.)
UPDATE (12/22/2015, 9:30 a.m.): Also in the mix: Tensegrity Law Group, which just announced Cravath-scale year-end bonuses on top of six-figure spring bonuses paid earlier this year.
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A second source who told us about the Desmarais bonuses added this reminder:
DLLP associates ALSO get: (A) $20k above mkt salary; (B) their entire health insurance premiums paid by the partners; and (C) an additional 4% of comp paid into our 401k.
All that and we don’t bill hourly, which is a bonus unto itself.
Having all your health insurance costs covered by the firm, in an age where elite firms like Davis Polk and Debevoise are making employees shoulder more of the burden, is no small benefit. Not having to bill by the hour? Priceless.
Right now you might be wondering: how can I get a job at Desmarais? I have two words for you: good luck.
Just like Susman and Boies, Desmarais is highly selective in its hiring (as you’d expect of a firm founded by the former head of Kirkland & Ellis’s IP group). If you spin through the 32 or so lawyer profiles on the firm website, you’ll see a lot of impressive law schools and many scientific and technical degrees.
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(And men, tons of men. All six partners, all three of counsel, and 18 out of 23 associates at Desmarais are male. But in fairness to the firm, that’s IP lit for you.)
Last month, I wondered: is patent litigation dead? Based on the bountiful bonuses at Desmarais LLP, reports of IP litigation’s death have been greatly exaggerated.
Earlier: Is Patent Litigation Dead? What Gives?
New York to $180K. I’m Totally Serious.
Nationwide Pay Raise Watch: Who Now Pays A Starting Salary Of $200,000?
