Several years ago, we wrote about top IP litigator Matthew Powers and his move from Weil Gotshal in 2011 to start his own firm, Tensegrity Law Group. Every few years, we check back in with the leading litigators at his firm to ogle their insane bonuses.
Despite 2020 being a mess, it looks like associates at Tensegrity cleaned up with generous bonuses, as usual. Here’s the firm’s year-end bonus memo:
Before we get to the eye-popping numbers, a source from the firm took the time to explain what’s so great about Tensegrity:
Consistent with prior practice, this year the firm has paid above-market bonuses that go well beyond the already generous fall special bonus. The impressive year-end recognition sits atop our Cravath-scale base compensation and top-of-market benefits, which include a 3% fully vested contribution to our 401(k) accounts (which requires no contribution from us) and completely paid-for platinum plan health insurance for each of us and our dependents. This all at a firm that has eschewed the billable hour model—we do not track any hours, billable or not. I know that I appreciate the support from the firm during these unprecedented and challenging times.
That being said, we’ve heard that the bonus for the Class of 2015 is $132,500, while the bonus for the Class of 2012 is $165,000. That’s $20,000 to $25,000 more than what senior associates receiving bonuses on the Cravath scale will see in their accounts this year.
Congratulations to everyone at Tensegrity Law Group. Your firm may be smaller, but your compensation sure isn’t!
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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.