After Compensation Raises and Frenetic Hiring, Big Law Is Gambling on 2022
How will large law firms respond in the event deal volume significantly slows, clients cut back demand and the cost of doing business rises? Will large pay packages for partners and associates become a big liability? For some, 2022 is a gamble of sorts.
February 03, 2022 at 05:22 PM
5 minute read
Law Firm ProfitabilityEach week, the Law.com Barometer newsletter, powered by the ALM Global Newsroom and Legalweek brings you the trends, disruptions, and shifts our reporters and editors are tracking through coverage spanning every beat and region across the ALM Global Newsroom. The micro-topic coverage will not only help you navigate the changing legal landscape but also prepare you to discuss these shifts with thousands of legal leaders at Legalweek 2022. With a new date of March 8-11, 2022, the Legalweek program will feature Barometer focused sessions, TED-style focus talks, workshop boot camps, and industry panel sessions across 21 tracks and 74 sessions. Secure your registration today!
The Shift: After Compensation Raises and Frenetic Hiring, Big Law Is Gambling on 2022
Big Law is taking a bet that this year will be another growth year.
Large law firms have continued significant lateral partner hiring in 2022, even after a spike in hiring last year. Several firms have raised associate salaries in 2022, on top of pay increases last year, and many more are likely prepared to do the same.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Law Firms Mentioned
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3The 'Biden Effect' on Senior Attorneys: Should I Stay or Should I Go?
- 4'That's Disappointing': Only 11% of MDL Appointments Went to Attorneys of Color in 2023
- 5'You Are Not Alone': 120 Sex Assault Victims Plan to Sue Sean 'Diddy' Combs
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250