REID COLLINS’ INDUSTRY-LEADING COMPENSATION MODEL FEATURED IN ABOVE THE LAW
December 14, 2022 – Among the nation’s elite trial boutiques, Reid Collins & Tsai LLP has long been above the market in attorney compensation and its salary and bonus structures are profiled by popular legal outlet Above The Law.
ATL said “time and time again, we’ve seen boutique firms deliver bonuses that really pack a punch when compared to their BigLaw competition…. [Reid Collins] continues to offer bonuses that break the bank for associates…. While BigLaw firms are busy conducting layoffs due to the faltering economy.”
In covering the firm’s compensation and practice of distributing bonuses throughout the year whenever money comes into the firm, as opposed to a dedicated “year-end” bonus practice, ATL interviewed Reid Collins Managing Partner Lisa S. Tsai about why this unique system works for the firm. Tsai replied, “we attribute a lot of our success to the way we choose to pay and treat our people. From the start, our firm has been laser focused on operating as a meritocracy. We want to reward our attorneys for the good work they are doing and the results they are generating, not their law school graduation year or the number of hours they are billing. That is why a junior associate who is only two years out of law school earned a $200,000 bonus in a single bonus round this year. And that is also why we handed out $1 million bonuses to two non-equity partners this year too. In that sense, we are not simply outperforming the market scale, we are reinventing the market metrics altogether.”
Click here to read “This Boutique Firm Is Showering Associates With Bonus Bucks” at AboveTheLaw.com.
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