New York City’s pay transparency law has the potential to alter the talent competition in Big Law for both attorneys and business professionals. 

The law may have little effect on associates at the largest firms who receive pay in lockstep. But Big Law will need to confront new competition challenges related to their staff, including how they attract and retain such talent, said several industry experts. And small and midsize law firms may face the same set of challenges for their staff as well as associates and other attorneys who are not paid in lockstep.