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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 Dan Roe | December 4, 2023
The litigation shop's formula compensation system rewards associates for originating clients and contributing to contingency cases.
2 minute read
By Patrick Smith | November 30, 2023
David Huberman, now a shareholder at Greenberg Traurig and based in Tel Aviv, claims McDermott wrongly denied him a pay boost to $425,000.
2 minute read
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.
1 minute read
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.
5 minute read
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.
3 minute read
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.
2 minute read
By Charlotte Johnstone | November 17, 2023
The hike now puts the firm in line with other elite UK firms.
2 minute read
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.
6 minute read
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.
5 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
By Zack Needles | December 1, 2023
The news and analysis you need to start your day.
4 minute read
By Sarah Tincher-Numbers | November 28, 2023
"Our real value proposition is we provide coastal expertise at Midwestern rates," said one law firm leader. "You get a lot of bang for your buck."
6 minute read
By Andrew Maloney | November 28, 2023
"Our real value proposition is we provide coastal expertise at Midwestern rates," said one law firm leader. "You get a lot of bang for your buck."
6 minute read
By Adolfo Pesquera | November 21, 2023
"The documents Hemotek relies upon do not demonstrate active attempts to commercialize any particular invention that would satisfy this definition.," the AAA panel said about Hemotek's breach of contract claim.
5 minute read
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