Credit: lunamarina/Adobe Stock Amid Growing Battle for Talent, 3 DC and Virginia Firms Increased Their Equity Partner Pay Spreads
Six other Am Law 200 firms across Washington, D.C., Maryland and Virginia either kept these spreads at the same level between 2022 and 2023 or decreased the spread.
June 03, 2024 at 04:28 PM
4 minute read
What You Need to Know
- Williams Mullen, Venable and McGuireWoods increased their equity partner pay spread in 2023 over 2022.
- Crowell & Moring, Offit Kurman and Miles & Stockbridge decreased their pay spread.
- Hogan Lovells, ArentFox Schiff and Steptoe kept their pay spread the same.
As law firms in Washington, D.C.—as well as Baltimore and Richmond—battle to attract and retain top talent amid heightened competition in the lateral market, the distance between firms' highest- and lowest-paid equity partners fluctuated last year.
Out of nine firms based in or with a large presence in D.C., Virginia and Maryland, three decreased their pay spread, three increased their pay spread, and three kept the same equity partner pay spread in 2023 compared with 2022, according to ALM survey data on pay ratios for firms in the Am Law 200.
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