Credit: Budairomi/AdobeStock The Ripple Effects Flowing Through the Global Legal Industry
By definition, a ripple effect occurs when a disturbance occurs in a system and moves outward to shake up an increasingly larger part of that system. And so it is in the legal industry—whether it be caused by salary wars, cybersecurity risks, artificial intelligence or geopolitics, writes The Global Lawyer.
December 03, 2023 at 06:01 PM
9 minute read
The Global Lawyer
Every year around this time, a top-ranked U.S.-based law firm fires the first shot. It announces a new associate pay scale and annual bonuses, sending the U.S. industry into a tizzy as firm after firm considers whether to match, or even exceed the new rates, and prompting non-U.S. firms to shake their heads in disbelief at the amount of money thrown at newly minted associates who don't know the first thing about practicing law.
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