For many of New York’s elite firms, 2020 brought about record financial fortunes amid a pandemic and economic recession, early Am Law 100 data shows, leading to the highest-ever posted partner profits and creating further pay stratification within the Am Law 200.
The profit boost for some of these New York firms, as well as high demand in deal work, have created business opportunities in the last year that could serve to further that divide. Several firms engaged in some of their most expansive lateral hiring, while some also used the period to move further away from the strict lockstep partner pay model.
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