This week's episode features a conversation with Caren Ulrich Stacy, founder and CEO of Diversity Lab, about the associate salary war's impact on law firm diversity and young lawyer retention. Stacy explains why firms that don't strain themselves to keep up with the competition on associate comp may actually have a leg up in attracting and keeping young talent—and particularly diverse young talent. 

Many firms are going to look to cover the cost of their pay raises with rate hikes and increased billable hour requirements, both of which can disproportionately impact diverse lawyers. But, as Stacy notes, firms that choose not to go all-in on associate salaries could instead put their resources toward creating a more equitable and inclusive work environment.