We haven’t heard the word “lemmings” used to describe reactions from law firms after Milbank, Tweed, Hadley & McCloy announced first-year associate to salary hikes to $190,000. Sure, a handful of firms have matched, but the historical rush by Big Law to keep pace has not played out—at least not yet. In this Instant Insights, we explore why the game of follow-the-leader has fewer participants this time around, and we take the pulse of reactions to the raises from clients, competitors and experts.
Nicholas Bruch, Director, ALM Intelligence | June 05, 2018
Some firms may want to match Milbank's new salaries. Most should not.
Hugh A. Simons | June 07, 2018
A cold-hearted look at market data and dynamics suggests firms would do well to approach the incipient round of salary increases extremely thoughtfully
Christine Simmons | June 04, 2018
The pay increase could result in differentiation among law firms, observers say.
In-house leaders didn't pull punches in their evaluation of Milbank's big associate raises.
Meghan Tribe | June 05, 2018
Winston & Strawn and Proskauer have already matched Milbank's new pay scale. As others debate whether to join them, clients may not all be content to sit on the sidelines.
MP McQueen | June 06, 2018
Even as associate salaries climb, lawyers are seeing pensions shrink and the promises of partnership fade.
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Legal Speak is a weekly podcast that makes sense of what’s happening in the legal industry.