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By Justin Henry | January 11, 2024
The adoption of a nontransparent pay system comes as firm leaders seek to reduce internal tensions as the spread of compensation expands.
3 minute read
By Dan Roe | January 10, 2024
Dechert has hiked its rates for top partners by 20%, while McDermott is charging top partners out at $2,590 hourly, according to recent bankruptcy court filings.
3 minute read
By Krishnan Nair | January 10, 2024
With star talent exiting the firm recently, the anticipated change is expected to help it to retain its strongest performers in an increasingly monied hiring market.
3 minute read
By Charlotte Johnstone | January 4, 2024
The scheme, which goes firmwide this week, offers associates "a real chance to reset their career", said Michael Craig, a disputes and investigations associate.
6 minute read
By Jack Womack | December 20, 2023
The merger of the two firms is due to formally take effect in May 2024, with 99% of partners at both firms approving the plans in October.
2 minute read
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.
2 minute read
By Dan Roe | December 4, 2023
The litigation shop's formula compensation system rewards associates for originating clients and contributing to contingency cases.
2 minute read
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.
2 minute read
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.
1 minute read
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.
5 minute read
By Allison Dunn | February 14, 2024
State and federal trial courts have split on whether punitive damages are available for contract claims outside of the insurance context, according to a recent ruling from U.S. District Judge Michael Shea of the District of Connecticut.
6 minute read
By Abigail Adcox | February 13, 2024
"Many do compete with the New York firms," said Wells Fargo's Owen Burman about D.C. firms. "But it's not universal."
5 minute read
By Abigail Adcox | February 6, 2024
The environment for counsel on government-facing issues was "quite strong" last year, driving demand across the firm's litigation, transaction and regulatory practices, said chairman Richard Alexander.
3 minute read
By Adolfo Pesquera | February 5, 2024
George B. Murr of Murr Law said in his post-oral argument brief the Safeco's counsel's argument bars the insured's causes of action, but that is not how jurisprudence in Texas works.
4 minute read
By Brian Lee | February 5, 2024
The decades-old IOLA fund pays for low-income state residents' civil legal services, and the coalition said the account is a critical source of infrastructure that will be used to increase salaries. But Gov. Kathy Hochul's proposal could upset that plan, they said.
4 minute read
By Michael A. Mora | February 2, 2024
"These new lawyers are integrating their N.Y. rates into the market and increasing the rates, but I don't think that the rates charged for local work are increasing at the same pace," attorney fees expert Edward Mullins, a partner at Reed Smith, said about Miami's high rates.
3 minute read
By Christine Simmons | January 25, 2024
In the race to increase profits and attract the best talent, law firms are now caught in a conundrum in adjusting partner compensation.
6 minute read
By Lauren G. Krasnow | January 25, 2024
"Whether conversing with a leader who was facilitating their organization's decision-making or with an individual advocating for themselves, 'the numbers' always serve as the starting point," Lauren Krasnow writes. "However, as I remind my coaching clients, 'the numbers' never tell the whole story."
7 minute read
By Abigail Adcox | January 22, 2024
While not tracking origination credits may carry some risks, Covington partners argue the pay model is at the heart of the firm's team-based approach in client work and has helped in attracting laterals.
6 minute read
By Maria Dinzeo | January 11, 2024
Adams benefited from the company exceeding its targets for sales and operating income, but nonetheless received a hair less than in 2022.
3 minute read
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