In late January, Simpson Thacher & Bartlett announced that it was hiking its first-year associate pay to $160,000. Since then, the legal press has noted that an increasing number of firms in every major legal market plan to follow suit.
I’ve heard disgusted buzzing about this among corporate counsel at private luncheon meetings. But that’s all. There’s been no hint of the revolution that I was sure would erupt. In-house counsel of the world: What are you waiting for? Who’s managing your company’s legal spending: you, or the firms?
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