Whether They Should or Not, Firms Are Entering the Associate Pay Race Again | Law Firm Office Returns Will Ultimately Be Dictated by Clients | Class Action Alleges NCAA Intentionally Put Football Players at Risk: The Morning Minute
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June 11, 2021 at 06:00 AM
5 minute read
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WHAT WE'RE WATCHING
MATCH GAME - Just as sure as the sun will rise, so too will Big Law continue throwing money at associates in an ever-escalating battle of one-upmanship. Milbank kicked things off yesterday morning with its announcement that it will raise associate salaries in all of its offices. As Law.com's Christine Simmons reported, first-year associates will receive $10,000 pay increases, bumping up starting salary to $200,000, while fourth-year associates and above will receive $15,000 pay increases, with senior associates going up to $355,000. By early afternoon, several more firms began falling in line. But for some, trying to keep pace could prove to be dangerous. Still, legal recruiter Sharon Mahn told Law.com's Dylan Jackson, Patrick Smith and Andrew Maloney, many will likely feel they have no choice. "Money is very important to associates and firms that don't keep up with [compensation] will have issues of retention," Mahn said. "Firms, whether it's true or not, need to show they are in a real position of strength. For a lot of reasons, firms will feel pressure." Meanwhile, their clients continue to side-eye the whole thing as in-house counsel deal with increasingly tight budgets and economic uncertainty.
WAITING FOR A SIGN - Law firms may not give a hoot what clients think about associate salaries, but they're quite keen to know how clients feel about getting back to the office. So far, law firms haven't had much feedback to go on or examples to follow, which, as we noted in this space yesterday, is partly why so many firms' office return policies have been more like abstract paintings than clear-cut instructions. But, as Law.com's Christine Simmons writes in this week's Law.com Barometer newsletter, whether firms really do embrace remote work flexibility going forward or start ratcheting up the pressure on lawyers and staff to reconvene in person will largely depend on how the corporate world approaches the issue. All the law firm personnel polls in all the land won't amount to much if clients make clear they expect their attorneys to be in the office regularly. "If a corporate client or banker is already working in a downtown office, will it be acceptable to continue those conversations over Zoom? Are the pet dog cameos on Zoom going to be just as cute as they were before?" Simmons writes. "When push comes to shove, law firms will ultimately veer toward client expectations. The built-in wiggle room in law firms' office-return policies is a nod to law firms' need to adapt to any change in client business pressures." To receive the Law.com Barometer directly to your inbox each week, click here.
RISK VS. REWARD - Edelson PC and Raizner Slania LLP filed a personal injury class action against National Collegiate Athletic Association Thursday in Indiana Southern District Court. The complaint, filed on behalf of student football players at Thiel College, accuses the NCAA of intentionally exposing them to the risk of sustaining concussions and other brain injuries in order to continue profiting from the sport. Counsel have not yet appeared for the defendant. The case is 1:21-cv-01640, Ede v. National Collegiate Athletic Association. Stay up on the latest deals and litigation with the new Law.com Radar.
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EDITOR'S PICKS
| | |- A Trial-And-Error Approach to Office Returns Yields Some Lessons Learned By Andrew Maloney
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WHILE YOU WERE SLEEPING
CLYDE'S NEW GUIDE - Clyde & Co has elected its first female and first non-U.K. senior partner, following an election triggered by the early resignation of predecessor Peter Hirst, Law.com International's Simon Lock reports. Canada-based commercial disputes partner Carolena Gordon will take up the mantle from the start of July, the firm announced on Thursday. Gordon edged out competition from global insurance chair James Cooper and Manchester-based insurance partner Chris Murray to take the post, according to a person aware of the situation. "We are a firm with a fantastic growth story, hugely talented people and a clear and compelling offering to our clients and I'm excited about what the future has in store," Gordon said in a statement.
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WHAT YOU SAID
"To say that the legal underpinnings of this case are weak and muddled is an understatement."
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