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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.
3 minute read
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.
2 minute read
By Charlotte Johnstone | November 17, 2023
The hike now puts the firm in line with other elite UK firms.
2 minute read
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.
6 minute read
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.
5 minute read
By Andrew Maloney | Jessie Yount | November 8, 2023
The market hesitation was underscored by the lack of immediate, similar moves. Some firms were still waiting on other market leaders to move, sources said.
6 minute read
By Andrew Maloney | November 7, 2023
The internatinal firm's chair pointed to "a very, very busy year" across the firm—one in which productivity was "materially" increased, as well as increasing cost of living.
2 minute read
By Justin Henry | Patrick Smith | November 7, 2023
Cravath has been approaching counsel-level attorneys about joining its non-equity tier since at least last summer, according to one Am Law 50 firm leader.
4 minute read
By Charlotte Johnstone | November 7, 2023
An in-depth survey of nearly 200 UK associates at large law firms has found nearly a third feel morale has dropped over the last year, with emphasis on billable hours, salary disappointment and a 'tough' office culture among the factors responsible.
8 minute read
By Justin Henry | October 25, 2023
The New York firm is also considering altering the portion of equity partner pay that comes from firm profits vis a vis bonuses.
4 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 Brenda Sapino Jeffreys | December 5, 2023
Litigation boutiques and other small firms compete for the same top law students as Big Law, so they are likely to move to the new, higher market salary and bonus scales for associates.
4 minute read
By Abigail Adcox | December 1, 2023
While Covington may be one of the first D.C. firms to match, other profitable firms in the capital region are likely to follow.
2 minute read
By Zack Needles | December 1, 2023
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4 minute read
By Sarah Tincher-Numbers | November 28, 2023
"Our real value proposition is we provide coastal expertise at Midwestern rates," said one law firm leader. "You get a lot of bang for your buck."
6 minute read
By Andrew Maloney | November 28, 2023
"Our real value proposition is we provide coastal expertise at Midwestern rates," said one law firm leader. "You get a lot of bang for your buck."
6 minute read
By Adolfo Pesquera | November 21, 2023
"The documents Hemotek relies upon do not demonstrate active attempts to commercialize any particular invention that would satisfy this definition.," the AAA panel said about Hemotek's breach of contract claim.
5 minute read
By Amanda O'Brien | November 20, 2023
"Gross revenue was up 4.5%—even though rates did contribute to that, overall demand was worse," Wells Fargo's Owen Burman said of the Q3 results of six Philadelphia-based firms surveyed by the bank. "In order to have revenue be around the same point, they've basically collected better at this point in the year than other firms have."
5 minute read
By Abigail Adcox | November 20, 2023
Law firms founded in the D.C. region aren't expected to be "leading the charge" in raising associate pay and matching, but they will be heavily influenced by what their peers in New York do.
4 minute read
By Abigail Adcox | November 20, 2023
Wilkinson Stekloff's associate bonuses start at $26,250 for the class of 2023 and top out at $201,250 for the class of 2016 and beyond.
2 minute read
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