These Bonuses Beat The Biglaw Market Rate! – Above the Law
This is getting to be a habit — boutique law firm Selendy & Gay, has, once again, beaten the prevailing market rate for year-end bonuses doled out in Biglaw. We get so used to thinking of Biglaw as the pinnacle of the legal profession, that it’s a good reminder that elite boutiques routinely kill it — and are willing to share that largesse with associates.
Yesterday, Selendy & Gay announced their median bonuses for associates. And, yeah, the scale at the firm blows the door off of the admittedly generous Biglaw grid. Selendy’s scale is as follows:
These are the median bonus amounts for associates who have been with the firm for at least a full year:
Class of 2013:
$174,650
Class of 2014:
$151,130
Class of 2015:
$114,309
Class of 2016:
$108,225
Class of 2017:
$80,850
Class of 2018:
$38,325
Class of 2019:
$28,013
For comparison, a class of 2013 associate at market rate Biglaw firms will take home $140,000 — that’s $100,000 in year-end bonuses and $40,000 in special bonuses. Selendy & Gay is coming in at over $34,000 more than that. For a junior associate in the class of 2019, Selendy & Gay is giving out more than $5k on top of market bonuses ($15,000 year-end plus $7,500 special is the market rate). Sure, these numbers are the median, which of course means some folks making less than that, but, importantly, some folks are making more than that.
Managing Partner Jennifer Selendy had this to say about the firm’s decision to share the wealth with their associates:
“We have had phenomenal success representing plaintiffs and defendants in trailblazing commercial and public interest cases this year, while building an inclusive, values-driven team. Our associates are central to the firm’s achievements, and they deserve commensurate rewards for their extraordinary efforts.”
Congrats to those taking home these hefty paychecks.
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).
