Lawyer Compensation - General
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The Pressure to Match Associate Pay Raises
By ALM Staff | November 30, 2023
At least 70 law firms, mainly across the Am Law 100, had gone up to $215,000 or more in the previous round of associate salary hikes.
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Kirkland, Quinn, Davis Polk, Wachtell and Sidley Line Up to Match Cravath Salary Scale
By Patrick Smith | November 30, 2023
Quinn Emanuel, which is matching the latest base salary scale and bonuses, is expecting profits to increase more than 20% this year.
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Paul Weiss, Dechert and Others Match Cravath Salary Scale
By Patrick Smith | Justin Henry | November 29, 2023
Paul Weiss and Baker McKenzie also said they will pay "discretionary" or "premium" bonuses for high-performers.
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Cravath Exceeds Milbank Salary Scale for Senior Associates
By Patrick Smith | November 28, 2023
Cravath said it will also match last year's year-end bonus scale, and foreign associates will receive the bonus corresponding to the calendar year in which they started. Paul Hastings and McDermott said they will match the Cravath scale.
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Slaughter and May Ups NQ Pay to £125,000
By Charlotte Johnstone | November 17, 2023
The hike now puts the firm in line with other elite UK firms.
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International Edition | Analysis
Where Are the Milbank Pay Matches? Mixed Market Signals Weigh on Law Firms
By Andrew Maloney | November 15, 2023
"It's a bit telling of how the overall market is kind of feeling at the moment. There's going to be a lot of variability in how firms perform this year," noted New York legal recruiter Scott Yaccarino.
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International Edition | Analysis
Associate Pay Raises Escalate GC Fears of Billing Rate Hikes
By Andrew Maloney | Chris O'Malley | November 13, 2023
Some GCs are voicing concerns about further rate hikes after associate pay raises. But Milbank's chair said the salary raises wouldn't have a material effect on its billing rate decisions in the future.
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International Edition | Analysis
Top Performers 'Likely' To Raise Associate Pay After Milbank's Move, but Broad Hesitancy Lingers
By Andrew Maloney | Jessie Yount | November 8, 2023
The market hesitation was underscored by the lack of immediate, similar moves. Some firms were still waiting on other market leaders to move, sources said.
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Milbank Raises Associate Salaries and Announces Year-End Bonuses
By Andrew Maloney | November 7, 2023
The internatinal firm's chair pointed to "a very, very busy year" across the firm—one in which productivity was "materially" increased, as well as increasing cost of living.
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Cravath Adds Non-Equity Tier as Big Law Makes Structural Changes for Competitive Pay
By Justin Henry | Patrick Smith | November 7, 2023
Cravath has been approaching counsel-level attorneys about joining its non-equity tier since at least last summer, according to one Am Law 50 firm leader.
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