Boutique law firms are steadily gaining recognition for their associate compensation structures, frequently meeting or even exceeding the figures touted by Biglaw firms. One such firm, Hueston Hennigan, has recently declared its decision to follow Cravath’s pay scale, delighting the firm’s associates.
This implies that, as of January 1, the associates’ salaries at Hueston Hennigan will line up as following:
- Class of 2023 – $225,000
- Class of 2022 – $235,000
- Class of 2021 – $260,000
- Class of 2020 – $310,000
- Class of 2019 – $365,000
- Class of 2018 – $390,000
- Class of 2017 – $420,000
- Class of 2016 – $435,000
In addition to competitive salaries, Hueston Hennigan is making a name with its sizeable associate bonuses. Each associate is set to receive an above-market bonus, with some bonuses said to surpass the $200,000 mark. This notable bonus system extends to staff members too, as they have also been awarded generous bonuses according to the recent announcement.
The firm’s extraordinary approach to compensation underlines the possible evolution of payment strategies in the legal sector, where boutique firms are putting up stiff competition for their Biglaw counterparts. As these trends continue, it will be intriguing to keep watch on the shifting dynamics of this marketplace.
In order to stay updated on these compensation developments in the industry, legal professionals can utilise tools such as ATL’s Bonus Alerts. These services aid in swift notification regarding latest pay revision announcements from various firms.
Huge commendations are due to all at Hueston Hennigan for this landmark step.
This article has been compiled based on the information provided by a senior editor at Above the Law, Staci Zaretsky. To get in touch with her for any tips, suggestions, and feedback, feel free to reach out via email or contact her through Twitter and Threads or connect with her on LinkedIn.
To read more about the Hueston Hennigan’s compensation details, head over to the original article here.