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The American Lawyer

Law Firms Seek Flexibility in Revised Partner Comp Systems, Balancing Seniority With Productivity

Though firms have different approaches, the momentum in partner compensation is heading toward merit-based rewards to compete for rainmakers and grow profitability.
9 minute read

National Law Journal

Key Regulatory, Enforcement Practices Drove DC Law Firm Hiring in 2023

While law firms in D.C. may have been more cautious with hiring, sustained demand for regulatory and enforcement practices have also had a positive effect on firms' profits.
5 minute read

Corporate Counsel

'Everybody Is Looking at Budgets': In-House Teams Prepare to Scrimp Again in '24

"Most of us went through a period of retrenching when it comes to our outside counsel budgets last year. And so we're thinking very judiciously about how we're going to allocate resources in 2024," said Andrew Woods, general counsel of PubMatic.
4 minute read

The American Lawyer

Big Law's Return-to-Office Journey Still Not Complete, but More Settled Now

"The overwhelming majority of our colleagues are complying," noted Davis Polk's Neil Barr. "I know not everyone loves it, but from the institution's perspective, we are in a good spot."
6 minute read

The American Lawyer

Turnover in Big Law Leadership Manifests as 'Great Growth Race' Kicks Into High Gear

At least 30 large law firms have announced some kind of leadership transition within the last year or so. "It's been an exciting but challenging and exhausting few years," noted one Am Law 100 leader.
5 minute read

The American Lawyer

Proskauer Layoffs Underscore String of Big Law Cuts in 2023

The firm's moves are consistent with a slew of large law firms making staff and associate cuts in 2023, as firms focused on efficiency, outsourcing and productivity in a year of declining demand.
8 minute read

The American Lawyer

Big Law Isn't Big In Raleigh, as Region's Start-Ups Prioritize Rate Flexibility

"I've worked with firms who find it difficult because they want the partners to charge X rate and they would lose a third of their business," said Charlotte-based Jordan Abshire, founder and managing member of Abshire Legal Search.
8 minute read

The American Lawyer

Amid Exits, FisherBroyles Develops Profit-Sharing Plan for 2024

The profit-sharing plans of both FisherBroyles and a spinoff firm are a departure from the usual practices of distributed law firms.
5 minute read

The American Lawyer

EU's New AI Act Will Create Wave of Work for Law Firms

Lawyers say the landmark AI legislation agreed upon by EU officials on Friday will generate extensive work for Big Law, with multijurisdictional law firms that have strong regulatory practices best positioned to ride the wave of advisory and compliance work the new bill is expected to create.
5 minute read

The American Lawyer

How Some Big Law Firms Can Afford Associate Salary Raises

Most of the law firms that have confirmed matches to the latest associate salary scale have PEP above $2 million a year and more than $1 dollars in gross revenue.
5 minute read

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