While some Big Law leaders and recruiters seem to think that a closed-compensation model is the best fit for large firms, midsized firm leaders appear to have a very different philosophy.
The main argument for keeping compensation figures hidden is that doing so allows firms to avoid internal political backlash and partners’ hurt egos. It also allows firms to make lateral hires on varying pay scales depending on market conditions without those new recruits feeling underpaid in comparison to existing partners and vice versa.
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