The legal media has been abuzz with commentary and reporting on lawyer compensation and the battle for talent in BigLaw. Included in this coverage, prominent outlet The American Lawyer published a look at how some of the top national trial boutiques compensate their lawyers, profiling Reid Collins on June 18, 2021.
As the article describes, Reid Collins matches and bests the industry’s upper salary scale, with base salaries for first-year associates starting at $225,000 and rising quickly so that six-year lawyers receive $400,000 and more. In addition, the firm provides generous bonuses to all of its lawyers and staff throughout the year, to reward and acknowledge them for their specific contributions to the firm’s success. This model not only eclipses BigLaw’s best salary and bonus packages, but also epitomizes the firm’s core belief that its people and its team are the reason for its success, and therefore every person at the firm should share in that success. As explained in the article, “the firm pays bonuses when money comes in, and so far associates have received about $80,000 on average this year, and another bonus payment is pending.”
“We have been above market for a long time,” partner Bill Reid was quoted, taking pride in achieving the firm’s bedrock goal of creating the best possible working environment while also providing world-class compensation.
Click here to view The American Lawyer article entitled “Like Big Law Firms, Trial Boutiques Raising Associate Salaries” (paywall)

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