Credit: Orlando Florin Rosu/Adobe Stock Below-Market Associates Believe They Deserve the Market Compensation. Are They Right?
Midlevel associates say below-market compensation may cause them to leave, especially when billable hours match expectations at better-paying competitors.
September 12, 2024 at 05:00 AM
5 minute read
Law Firm Associates
What You Need to Know
- Midlevel associates voiced their dissatisfaction with below-market compensation, particularly at firms with billable expectations near 2,000 hours, in a recent American Lawyer survey.
- Although more-profitable firms are paying higher salaries and bonuses, firms with lower profits are paying associates a higher percentage of the revenue they bring in.
- Associates don't command as much leverage as they did a couple years ago, but recruiters said they continue to move plenty of associates up-market for higher compensation.
When it comes to associate compensation in Big Law, there's the math and then there's the market.
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