We just pay as we go. This year we are having a record year, so our bonuses are in record territory. It makes all those other dumb bonuses look like crap.
— William Reid IV, founding partner of Austin-based trial boutique Reid Collins & Tsai, commenting on the enormous bonuses the firm has already paid out to both associates and junior partners. Thus far, junior associates (with one to three years of experience) have been paid $85,000 to $95,000 in bonuses, senior associates (with four to five years of experience) have been paid $85,000 to $102,500 in bonuses, and salaried, nonequity junior partners (with six to 10 years of experience) have been paid $100,000 to $312,500 in bonuses. “I’m hoping to convey out there that you don’t have to go to a big firm to make money,” said Reid, who expects to pay out another round of bonuses before 2019 is over.
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 follow her on Twitter or connect with her on LinkedIn.