By Charlotte Johnstone | December 14, 2023
Salary and bonus increases kicked off by Milbank and Cravath have caused UK firms to offer the same, meaning junior associates in the US earn almost a third more than in the UK.
By Dan Roe | December 4, 2023
The litigation shop's formula compensation system rewards associates for originating clients and contributing to contingency cases.
By Patrick Smith | November 30, 2023
David Huberman, now a shareholder at Greenberg Traurig and based in Tel Aviv, claims McDermott wrongly denied him a pay boost to $425,000.
By ALM Staff | November 30, 2023
At least 70 law firms, mainly across the Am Law 100, had gone up to $215,000 or more in the previous round of associate salary hikes.
By Patrick Smith | November 30, 2023
Quinn Emanuel, which is matching the latest base salary scale and bonuses, is expecting profits to increase more than 20% this year.
By Patrick Smith | Justin Henry | November 29, 2023
Paul Weiss and Baker McKenzie also said they will pay "discretionary" or "premium" bonuses for high-performers.
By Patrick Smith | November 28, 2023
Cravath said it will also match last year's year-end bonus scale, and foreign associates will receive the bonus corresponding to the calendar year in which they started. Paul Hastings and McDermott said they will match the Cravath scale.
By Charlotte Johnstone | November 17, 2023
The hike now puts the firm in line with other elite UK firms.
International Edition | Analysis
By Andrew Maloney | November 15, 2023
"It's a bit telling of how the overall market is kind of feeling at the moment. There's going to be a lot of variability in how firms perform this year," noted New York legal recruiter Scott Yaccarino.
International Edition | Analysis
By Andrew Maloney | Chris O'Malley | November 13, 2023
Some GCs are voicing concerns about further rate hikes after associate pay raises. But Milbank's chair said the salary raises wouldn't have a material effect on its billing rate decisions in the future.
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