In a bold move that defies industry norms, Susman Godfrey, a prominent U.S. litigation firm, has announced unprecedented year-end bonuses for its associates. The firm revealed on Monday that it will distribute seniority-based bonuses ranging from $140,000 to an astonishing $360,000, outshining the bonuses offered by many of its larger competitors.
This remarkable decision sees Susman Godfrey doubling the bonus amounts from the previous year and setting a new benchmark, offering more than triple the bonuses committed by other U.S. law firms for the current year. In 2022, the Houston-founded firm had rewarded its associates with bonuses ranging from $85,000 to $160,000 based on seniority.
The bonus season for law firms commenced last month with Milbank leading the way by announcing bonuses ranging from $15,000 to $115,000. Notably, this has been matched by industry giants like Cravath, Swaine & Moore, among others. Susman Godfrey has not only set a new standard for bonuses but has also decided to align associate salaries with Cravath and other major firms. Associates at Susman Godfrey will now enjoy salaries ranging from $225,000 to $435,000, depending on their seniority.
Managing partners Vineet Bhatia and Kalpana Srinivasan expressed their sentiments in a statement, emphasizing the firm’s extraordinary moment in its 40-plus year history. They highlighted the firm’s highest-ever revenue and a record number of cases tried over the last year and a half.
Earlier this year, Susman Godfrey achieved a significant milestone by securing a $787.5 million settlement for Dominion Voting Systems. The firm represented Dominion Voting Systems in a defamation lawsuit against Fox News, stemming from reports alleging the company’s involvement in a conspiracy to rig the 2020 U.S. presidential election.
Susman Godfrey’s groundbreaking decisions and exceptional achievements mark a pivotal moment in the legal industry, solidifying its position as a trailblazer in associate compensation and a powerhouse in high-stakes litigation.
