Midtown Manhattan on January 8, 2024. Photo: Ryland West/ALM How New York's Top Boutiques Are Staying Competitive in Associate Compensation and Retention
Many New York-based boutiques—like Holwell Shuster & Goldberg and Cohen Ziffer Frenchman & McKenna—are staying close to or on the Cravath scale to be able to compete with firms like Kirkland & Ellis for the best associates.
August 06, 2024 at 04:10 PM
5 minute read
Law Firms - Small
The original version of this story was published on New York Law Journal
What You Need to Know
- Top boutiques compete with Big Law for associate talent through high compensation and the promise of hands-on work.
- Cohen Ziffer Frenchman & McKenna and Holwell Shuster Goldberg, two of New York's top litigation boutiques, pay close to or on the Cravath scale.
- Boutiques like Cohen Ziffer and HSG may also offer alternative rates and products that are more bespoke to client needs.
Legal experts say that many top boutiques pay associates more or the same as larger, elite firms. And, while they may offer more hands-on experience and a faster partnership track, they're certainly not backing down from high billable hour annual requirements, with many of them requiring almost 2,000 billable hours annually for associates.
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