The guarantee that brought M&A star Ethan Klingsberg to Freshfields Bruckhaus Deringer from Cleary Gottlieb Steen & Hamilton was an eye-opener. Recruiter Mark Rosen, who facilitated the move, said Klingsberg would be pulling in a minimum of $10 million each year over his first five years at his new firm.

That gaudy compensation package isn’t even the largest on record for a lateral. It stands behind the $11 million per year for five years (plus a signing bonus) that Kirkland & Ellis reportedly promised Sandra Goldstein in her 2018 move from Cravath, Swaine & Moore. (Some familiar with that deal have cautioned that it’s an estimate rather than a guarantee.)

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