Photo by Shutterstock The Cost of the Talent War: Bonuses, Raises Drive Up Big Law Compensation Expenses by Double Digits
Am Law 200 firms saw double-digit percentage increases in compensation expenses as firms pour money into the talent war.
December 10, 2021 at 05:00 AM
4 minute read
Lawyer Compensation - Law Firm
The frantic war for talent this year—and all of the financial incentives firms have deployed to better compete—has driven up compensation expenses at Am Law 200 firms by double digits on average, with firms in the top 50 seeing a more than 16% increase in compensation expenses, according to the The Citi Hildebrandt 2022 Client Advisory released Thursday.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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