The anxiety in Ronald Beard’s voice was hard to miss. Beard, the chairman of Los Angeles’s Gibson, Dunn & Crutcher, was hearing daily — hourly even — from associates with news of all of our lawyers to let them know we aren’t ignoring the situation.”

At press time in mid-February, Beard was still agonizing over how much to pay Gibson, Dunn’s associates. In the last two months he — and pretty much every other managing partner in the country — has watched as a 30 percent spike in associate compensation offered by a Palo Alto high-tech boutique spread like a virus from Silicon Valley to San Francisco to New York, Boston, and beyond. Every day in February, it seemed as though greedyassociates.com was posting news that another firm had succumbed, jacking up salaries to meet the competition. With every posting, the firms that, like Gibson, Dunn, hadn’t yet decided what to do squirmed more uncomfortably.

This content has been archived.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]