Buoyed by unprecedented billing rate hikes and heightened competition for rainmakers, firms are expanding their partner pay scales and will likely continue to do so as the industry remains in a long-running race for growth.
But Big Law isn’t just increasing the spread between its highest- and lowest-paid partners—it’s evolving on compensation in several ways, according to observers and recent industry analysis. Those include increasing bonus pools, redrawing lines between equity and nonequity partners and expanding credits to go beyond origination.
