Susman, Pallas Partners Drop Latest Outsize Associate Bonuses (1)

Litigation boutique law firms are continuing to dole out high-dollar bonuses to its associates.

Susman Godfrey is offering bonuses ranging from $110,000 to $260,000, the firm said Tuesday. New York boutique Pallas Partners is offering its associates a package of bonuses including as much as $115,000 and another up to $25,000. The firm is also giving out another set of bonuses as much as $92,000 for associates who exceeded the firm’s 2,000 billable hour requirement, according to an internal memo viewed by Bloomberg Law.

The move comes as boutiques rush to top their competition’s associate offerings, which often dwarf what Big Law associates are awarded by their firms. Litigation boutique Elsberg Baker & Maruri will give its junior lawyers as much as $226,250.

New York boutique Selendy Gay offered its associates up to $157,250while Wilkinson Stekloff offered up to $197,500. It’s also much more than the extra payments previously announced by Milbank LLP and matched by several larger competitors, which total as much as $140,000. Boutiques, with significantly smaller associate pools, can afford to hand out more money per associate.

Texas litigation boutique Yetter Coleman is also matching Milbank’s offerings for its associates, according to an internal memo viewed by Bloomberg Law.

“Susman Godfrey enjoyed another successful year,” firm managing partners Vineet Bhatia and Kalpana Srinivasan said in a statement. “We also hit a pivotal moment in exceeding for the first time 100 partners. Our strong partnership and deep bench of talent continue to position us to handle the most complex cases against the most formidable adversaries across the nation.”

Susman secured more than $670 million for the City of Baltimore in its quest to hold opioid manufacturers accountable over their role in perpetuating opioid addiction in the city.

Susman also announced a slate of seven new partners, including Stephanie Spies, Ari Ruben and Michael Brightman. The promotions brings the firm’s tally of equity lawyers to more than 100. The firm has 85 associates.

Pallas Partners, which is offering its junior lawyers as much as $230,000, was launched in 2022 by Boise Schiller partners. Its past client list includes Credit Suisse bondholders and private equity titan Blackstone.