Texas Law Firms Jump on the Spring Bonus Bandwagon
At least two law firms with offices in Texas are following the lead of several large New York law firms and paying spring bonuses.
Vinson & Elkins and Akin Gump Strauss Hauer & Feld will dole out bonuses this month, report Texas Lawyer and Above the Law. V&E and Akin Gump, which are giving bonuses to associates and of counsel who received year-end bonuses, will pay up to $20,000. The firms are apparently trying to stay competitive with New York law firms that started the spring bonus trend.
At V&E, bonuses range from $2,500 to $11,250 for associates and up to $20,000 for of counsel, Texas Lawyer says. At Akin Gump, bonuses range from $2,500 to $20,000.
Representatives of Thompson & Knight and Bracewell & Giuliani told Texas lawyer they are also considering bonuses.
