Boutique
firms
continue
to
strut
their
stuff
when
it
comes
to
compensation,
oftentimes
blowing
the
already
hefty
salary
and
bonus
scales
offered
by
Biglaw
firms
out
of
the
water.
Gjerset
&
Lorenz,
a
healthcare
boutique
located
in
Austin,
Texas,
is
offering
up
some
big-time
salaries
that
are
sure
to
make
associates’
hearts
skip
a
beat.
According
to
a
recent
memo,
the
firm
did
so
well
this
year
that
associates
are
being
rewarded
with
compensation
that
surpasses
the
Cravath
scale
(which
the
firm
matched
just
last
year).
“We
know
the
novelty,
complexity,
and
quality
of
our
work
exceeds
that
of
BigLaw
and
we
want
that
to
be
reflected
in
our
salary
structure,”
writes
Shauna
Lorenz,
the
firm’s
co-founder.
Check
out
the
firm’s
new
salary
grid,
which
may
make
some
Biglaw
associates
green
with
envy:
-
Class
of
2024:
$265,000
($40K
more
than
Cravath) -
Class
of
2023:
$275,000
($40K
more
than
Cravath) -
Class
of
2022:
$300,000
($40K
more
than
Cravath) -
Class
of
2021:
$335,000
($25K
more
than
Cravath) -
Class
of
2020:
$380,000
($15K
more
than
Cravath) -
Class
of
2019:
$420,000
($30K
more
than
Cravath) -
Class
of
2018:
$450,000
($30K
more
than
Cravath) -
Class
of
2017:
$475,000
($40K
more
than
Cravath)
The
Gjerset
&
Lorenz
salary
scale,
which
went
into
effect
on
October
1,
2024,
is
$15,000
to
$40,000
above
the
Cravath
scale,
depending
on
class
year.
Lorenz
continues
to
praise
the
firm’s
associates,
writing:
We
genuinely
appreciate
each
of
your
contributions
to
the
success
of
the
firm
and
are
incredibly
appreciative
of
your
flexibility
during
our
transition
of
several
projects
and
work
assignments
this
year.
Your
professionalism
and
dedication
to
our
clients
has
resulted
in
a
smooth
continuation
of
our
work,
and
in
many
cases
elevated
quality
and
innovation.
She
concludes
the
internal
memo
by
pledging
that
the
firm
will
monitor
changes
within
the
market
and
“further
adjust
salaries
as
necessary”
in
order
to
beat
Biglaw’s
salary
scale.
We
can’t
wait
to
see
what
their
year-end
bonuses
look
like,
which
reached
a
maximum
potential
of
up
to
$310K
last
year.
A
huge
congratulations
to
everyone
at
Gjerset
&
Lorenz!
(Flip
to
the
next
page
to
read
the
full
memo
from
the
firm.)
Remember
everyone,
we
depend
on
your
tips
to
stay
on
top
of
this
stuff.
So
when
your
firm
matches,
please
text
us
(646-820-8477)
or email
us (subject
line:
“[Firm
Name]
Matches”).
Please
include
the
memo
if
available.
You
can
take
a
photo
of
the
memo
and
send
it
via
text
or
email
if
you
don’t
want
to
forward
the
original
PDF
or
Word
file.
And
if
you’d
like
to
sign
up
for
ATL’s
Bonus
Alerts
(which
is
the
alert
list
we’ll
also
use
for
salary
announcements),
please
scroll
down
and
enter
your
email
address
in
the
box
below
this
post.
If
you
previously
signed
up
for
the
bonus
alerts,
you
don’t
need
to
do
anything.
You’ll
receive
an
email
notification
within
minutes
of
each
bonus
announcement
that
we
publish.
Staci
Zaretsky is
a
senior
editor
at
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
free
to
email
her
with
any
tips,
questions,
comments,
or
critiques.
You
can
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Threads
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her
on
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