Dallas-based Haynes & Boone announced that all Texas associates’ salaries will now be at the market rate of $160,000 for first years. The salaries for second and third years will be $170,000; $180,00 for forth years; $190,000 for fifth years; $200,000 for sixth years; $205,000 for seventh years; and $210,000 for eighth years. Associates’ bonuses will also be increased to as much as $5,000 for first-years and up to $70,000 for eighth-year associates. Associate classes, as a group, must reach certain billable-hour totals for the bonuses to be distributed, but for the first time Haynes & Boone has also added individual billable-hour bonus goals.
Source: www.law.com