For a long time, big law’s high-flying hourly rates remained under popular radar screens. Not anymore. On the heels of Jamie Wareham’s $5 million move to DLA Piper, The Wall Street Journal recently considered “Big Law’s $1,000-Plus an Hour Club.”
Will large-law-firm leaders react with shame and embarrassment to such disclosures? Doubtful. Most partners will defend their rates as market driven. As Weil, Gotshal & Manges bankruptcy partner Harvey Miller bluntly told the Journal, “The underlying principle is if you can get it, get it.”
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