(Credit: singkham/Adobe Stock) Comp Offers for Lateral Partners Now Show Big Law's Buying Power
A lot of firms are now offering make-whole or even "make-better" agreements to get laterals right away, illustrating top firms' buying power and desire to keep growing as demand and billing rates accelerate.
September 06, 2024 at 05:00 AM
5 minute read
Law Firm Profitability
What You Need to Know
- 'Make-whole' agreements are an essential part of partner recruiting, particularly as the year winds down.
- Some firms are also offering 'make-better' agreements, paying for compensation a lateral might be leaving on the table, and then some.
- Money isn't the only motivator for partners, and partners may still leave comp on the table if they feel their practice is better off at another firm.
The appetite for lateral partners in Big Law has remained strong in the second half of 2024, even if it means firms have to cough up extra compensation so lawyers aren't leaving money on the table when they change firms.
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.
Related Stories
View AllLaw Firms Mentioned
Trending Stories
- 1Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 2The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 3The 'Biden Effect' on Senior Attorneys: Should I Stay or Should I Go?
- 4BD Settles Thousands of Bard Hernia Mesh Lawsuits
- 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
