Reid Collins & Tsai, a small trial firm based in Austin, has paid merit bonuses to associates and junior partners ranging up to $229,000 in 2016, exceeding both the big-firm market rate for year-end bonuses set by Cravath, Swaine & Moore and the higher bonuses paid by another Texas litigation firm, Susman Godfrey.
William Reid IV, a founding member of Reid Collins, said the firm paid bonuses ranging from $80,000 to $150,000 to associates at the one- to six-year level in 2016, while the firm’s seven- to 10-year lawyers, who are considered junior partners but receive an associate-style salary, were paid bonuses as high as $229,000.
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