Nearly six weeks into 2011, partner compensation and group lateral moves are the early buzzwords on the lips of legal industry observers.

Both issues were front and center in The Wall Street Journal on Tuesday in a report about the huge sums of money being paid by law firms in the major markets — New York, Chicago, Los Angeles, and Washington, D.C. — to lure top rainmakers who earn as much as $10 million. In some cases, partner compensation is being reduced in order to free up capital for these larger payouts, and the gap in pay among a firm’s equity partners is growing. These “star attorneys,” The WSJ reports, can make eight to nine times more per year than their fellow partners.

This content has been archived.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 Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]