The London litigation boutique offering $230k bonuses

UK litigation boutique Pallas Partners is paying senior associates and counsel bonuses of up to $232,000, exceeding the "Cravath scale" by more than $90,000.

Founded in 2022 by former Boies Schiller trial lawyer Natasha Harrison, the firm pitches itself as a place where associates and counsel are expected to take on greater responsibility earlier than at larger firms, emphasising that Pallas lawyers gain more hands-on trial experience than their Big Law counterparts.

How it works

The bonuses combine Cravath market bonuses with a layered performance-based structure that steps up with billable hours thresholds starting at 2,100 hours. The firm said the bonus structure recognises the "extraordinary commitment" of associates and counsels. Associates can take home performance bonuses from $3,000 all the way up to $92,000 increasing with class year and hours billed, with the highest payouts awarded at 2,500 hours.

Why lit boutiques can pay more

Litigation boutiques play a different comp game. Lower overheads and a narrower platform allow more of the revenue from big-ticket disputes to flow directly back to the lawyers doing the work. Associates often sit closer to the action earlier in their careers thanks to flatter team structures, making outsized bonuses easier to justify. High pay also functions as a deliberate recruitment lever, allowing boutiques to trade some predictability and brand heft for upside and use compensation to make that trade-off worthwhile.

A leaner back office

Pallas is one of a growing number of boutiques to launch with institutional-style infrastructure rather than traditional law firm back offices. The firm worked with legal consultancy Kindleworth on its setup, a model that has gained attention following litigation funder Burford Capital’s recent minority stake in Kindleworth as funders look for closer exposure to law firm economics.