Firms that pay above market? Forum

[Lm10]

Does anyone know if there are firms (boutiques included) that pay above the market (other than Wachtell)?

It seems odd that the only firm I have heard of paying more than the market is literally 2X market rate - why aren't there other elite firms that pay between market and Wachtell?

TIA!

[Anonymous User]

KE gives up to 2x bonus (so eg a good first year can get theoretically 255 instead of 235). Rumor has it lately they've minimizes it. Plenty of firms give discretionary bonus on top of regular. Since it's discretionary, can be hard to get numbers. There's probably a thread somewhere listing this all.

A lot of boutiques do pay well above market tbw, but the info isn't as public.

But the real answer is that nobody really smashes the market bc nobody needs to. The pay scale is pretty generous and nobody gains from trying to compete with Wachtell or with boutiques.

[RedNewJersey]

KE gives up to 2x bonus (so eg a good first year can get theoretically 255 instead of 235).

KE has not done this for many years and should not be considered above-market.

[Anonymous User]

KE gives up to 2x bonus (so eg a good first year can get theoretically 255 instead of 235).

KE has not done this for many years and should not be considered above-market.

Even if it's 1.2 it's still by definition above market.

[Anonymous User]

Most boutiques--Keker, Sussman, Kellogg, Reichman, Bartlit, Hueston, etc.

Jones Day has above market based, but I think doesn't give bonuses (or does, but below market)

[Anonymous User]

If you want to know more about Big Law comp and the market, check out the book Big Law Confidential.

[Anonymous User]

Most boutiques--Keker, Sussman, Kellogg, Reichman, Bartlit, Hueston, etc.

Jones Day has above market based, but I think doesn't give bonuses (or does, but below market)

Reichman does NOT pay above market. No special bonuses last year ($60,000 under market in TC), and their base is also not 20k above-market anymore beyond fifth year. Simply does not belong in this list.

[Anonymous User]

If you want to know more about Big Law comp and the market, check out the book Big Law Confidential.

Mods this is the second time this poster put in a plug for Biglaw confidential in the past couple days (see also EOY bonus thread on 12/21). Can we stop with the advertising? The book’s garbage misnomer title is the best thing about it.

[Anonymous User]

Most boutiques--Keker, Sussman, Kellogg, Reichman, Bartlit, Hueston, etc.

Jones Day has above market based, but I think doesn't give bonuses (or does, but below market)

Reichman does NOT pay above market. No special bonuses last year ($60,000 under market in TC), and their base is also not 20k above-market anymore beyond fifth year. Simply does not belong in this list.

So it DOES pay above market for years 1-5 (excluding last year I guess)?

[Anonymous User]

Not when I left that toilet; no special bonuses in 2020 or 2021; then they changed the model to no longer being lockstep at all. Considering the $50,000 under market total comp during each of those two years, I left. Not even sure if they raised to match the new Dpw/Cravath base and bonus (my guess is no). And now the model is black box rather than lockstep, which is almost always under market.

Almost all the associates that were there when I began have left to return to biglaw.

[LegalPigeon]

I believe BraunHagey does, but the extra $5-10K you'll make in salary isn't worth the 2500 hours expectation (unless, of course, you are already doing 2500).