Litigation boutique McKool Smith kicked off the 2024 summer battle for talent this week by announcing four- and five-digit bonuses to its lawyers who have worked the most time on client matters.
In a memo to lawyers, David Sochia, who is chair and managing principal of the Dallas-based firm, said bonuses will range from $2,500 to $30,000 and are based on the billable hours each month from October through May.
The bonus rate schedule looks like this for lawyer billable hours and applies to associates, senior counsel and principals:
- 1,899 hours or less: $2,500;
- 1,900 to 2,199 hours: $7,500;
- 2,200 to 2,299 hours: $10,000;
- 2,300 to 2,399 hours: $15,000;
- 2,400 to 2,599 hours: $20,000; and
- 2,600 hours or more: $30,000
The summer bonuses are in addition to the year-end bonuses that the firm awards.
In the memo distributed to lawyers, Sochia said McKool Smith lawyers have been incredibly busy so far this year and that “the bonus is the firm leadership’s way of showing appreciation for your contribution to the firm’s continued success and the success of our clients.”