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WHAT WE’RE WATCHING
THE YOUNG AND THE RESTLESS - It would appear Big Law’s associate bonus bonanza is having its intended effect—for now. As Law.com’s Andrew Maloney reports, the extra cash has kept some overworked and underslept associates from moving to midsize firm competitors or ditching Big Law entirely. But as young lawyers continue to stare down all-consuming deal work and seemingly endless hours, large firms are going to have to get more creative and holistic to retain top associates for the long haul, law firm leaders and others said. Lawyers, in general, want more from their firms besides compensation, especially in the COVID-19 era, said Paulita Pike, Chicago office managing partner at Ropes & Gray. “People need to be happy and rested,” Pike said. “It can’t be just the money and the vacation. The environment has to be supportive, because if people don’t feel that, they’re not going to stay.” This is the third part of a series about how the pandemic has changed lawyers’ work schedules and billable hours. See parts one and two here.
