BOIES SCHILLER — MEMO — 2022 SALARY INCREASES
Boies Schiller has always been committed to top-of-market compensation for our young talent. As we have said many times, BSF associates contribute at a level not typically expected of your peers at other firms, and we recognize and rely on the value of your contributions to the success of our Firm and our clients.
Historically we have relied on formula compensation, which is directly proportional to a lawyer’s work and originations, to position our associates to achieve higher-than-market (and sometimes significantly higher than market) compensation, including by allowing associates to get substantial credit for any business generation and to share in the upside when our investments in contingency and other premium-earning cases pays off. With the recent transition to also offering a market compensation option, we have remained committed to being a market leader. Last year, for example, in addition to matching the market rate for base compensation, the Firm offered year-end bonuses, including extraordinary and extra-extraordinary bonuses, to provide an option for associates on the market system to achieve greater-than-market compensation.
In keeping with this approach, we are pleased to announce the following revised base salary scale for all U.S. associates in good standing:
|
Class |
New Base Salary |
|
2021 |
$215,000 |
|
2020 |
$225,000 |
|
2019 |
$250,000 |
|
2018 |
$295,000 |
|
2017 |
$345,000 |
|
2016 |
$370,000 |
|
2015 |
$400,000 |
|
2014+ |
$415,000 |
For associates (in good standing) who have elected to remain on formula compensation, your monthly formula compensation advance will be adjusted in accordance with this scale, as well. As a reminder, the Firm is permitting associates currently on market who wish to switch back to formula compensation the option to do so. Please contact your office administrative partner or one of the MPs if you would like to make that election, or have any questions.
Relatedly, a number of you who are involved in recruiting have asked whether new associates may elect formula compensation. The answer is yes.
On behalf of the entire partnership, we want to thank you again for your commitment to the Firm and your excellent work on behalf of our clients.
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