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By Kasvi Sehgal | January 30, 2024
The step follows changes the firm made to its lockstep system in 2021.
2 minute read
By Habiba Cullen-Jafar | January 26, 2024
As US firms match the Cravath scale, domestic UK firms will fear falling too far behind.
4 minute read
By Tom Parry | January 18, 2024
Top recruiters explain how environmental and social impact is of increasing importance to talented juniors—and discuss whether the attraction of high pay and kudos is enough to overcome ESG failures.
7 minute read
By Justin Henry | January 16, 2024
"It is so much easier to keep people happy when they can't see someone is making more than them even though they have more in originations," said Jeffrey Lowe, recounting the message he hears from firms with opaque compensation models.
5 minute read
By Justin Henry | January 11, 2024
The adoption of a nontransparent pay system comes as firm leaders seek to reduce internal tensions as the spread of compensation expands.
3 minute read
By Dan Roe | January 10, 2024
Dechert has hiked its rates for top partners by 20%, while McDermott is charging top partners out at $2,590 hourly, according to recent bankruptcy court filings.
3 minute read
By Krishnan Nair | January 10, 2024
With star talent exiting the firm recently, the anticipated change is expected to help it to retain its strongest performers in an increasingly monied hiring market.
3 minute read
By Charlotte Johnstone | January 4, 2024
The scheme, which goes firmwide this week, offers associates "a real chance to reset their career", said Michael Craig, a disputes and investigations associate.
6 minute read
By Jack Womack | December 20, 2023
The merger of the two firms is due to formally take effect in May 2024, with 99% of partners at both firms approving the plans in October.
2 minute read
By Charlotte Johnstone | December 14, 2023
Salary and bonus increases kicked off by Milbank and Cravath have caused UK firms to offer the same, meaning junior associates in the US earn almost a third more than in the UK.
2 minute read
By Brian Lee | February 5, 2024
The decades-old IOLA fund pays for low-income state residents' civil legal services, and the coalition said the account is a critical source of infrastructure that will be used to increase salaries. But Gov. Kathy Hochul's proposal could upset that plan, they said.
4 minute read
By Michael A. Mora | February 2, 2024
"These new lawyers are integrating their N.Y. rates into the market and increasing the rates, but I don't think that the rates charged for local work are increasing at the same pace," attorney fees expert Edward Mullins, a partner at Reed Smith, said about Miami's high rates.
3 minute read
By Christine Simmons | January 25, 2024
In the race to increase profits and attract the best talent, law firms are now caught in a conundrum in adjusting partner compensation.
6 minute read
By Lauren G. Krasnow | January 25, 2024
"Whether conversing with a leader who was facilitating their organization's decision-making or with an individual advocating for themselves, 'the numbers' always serve as the starting point," Lauren Krasnow writes. "However, as I remind my coaching clients, 'the numbers' never tell the whole story."
7 minute read
By Abigail Adcox | January 22, 2024
While not tracking origination credits may carry some risks, Covington partners argue the pay model is at the heart of the firm's team-based approach in client work and has helped in attracting laterals.
6 minute read
By Maria Dinzeo | January 11, 2024
Adams benefited from the company exceeding its targets for sales and operating income, but nonetheless received a hair less than in 2022.
3 minute read
By Charlotte Johnstone | January 4, 2024
The scheme, which goes firmwide this week, offers associates "a real chance to reset their career", said Michael Craig, a disputes and investigations associate.
6 minute read
By Jack Womack | December 20, 2023
The merger of the two firms is due to formally take effect in May 2024, with 99% of partners at both firms approving the plans in October.
2 minute read
By Brenda Sapino Jeffreys | December 5, 2023
Litigation boutiques and other small firms compete for the same top law students as Big Law, so they are likely to move to the new, higher market salary and bonus scales for associates.
4 minute read
By Abigail Adcox | December 1, 2023
While Covington may be one of the first D.C. firms to match, other profitable firms in the capital region are likely to follow.
2 minute read
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