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2001 Associates Survey: From Akin Gump to Kramer Levin
Summary of 2001 Associates Survey results, firm by firm.D.C. Firms Assess Price of Keeping Up With Next Round of Associate Raises
Eight months after Simpson Thacher raised starting salaries for first-year associates to $160,000, salaries for first-years at most of the 200 largest firms nationwide remain bunched at that rate. What New York firms had hoped was a raise too rich for out-of-town competitors with more pedestrian profits instead looks to be a failed attempt to segment the market. And now firms are bracing for another round of raises, probably ignited by a New York corporate firm looking to up the bidding war for talent.Contingency Work: Long Wait, Big Payday
Townsend and Townsend and Crew's contingency work has paid handsomely of late, with two cases garnering in the ballpark of $30 million each for the firm. Townsend isn't the only firm trying to weigh the risks of contingency with the potential tremendous rewards. At medium-sized firms, contingency provides an opportunity to juice revenues and attract the attention of potential lateral partners. Even large firms, traditionally more conservative, are starting to take on more risk in their fee arrangements.New York Firms Sit Out 'Salary War'
Call it the salary war that wasn't. When San Francisco-based Brobeck, Phleger & Harrison boosted its first-year associate salary to $135,000 in January, New York's big firm associates waited for what had become a predictable response. But with the economy now struggling and legal business slowing, the reaction from New York law firms so far is silence.State AI Legislation Is on the Move in 2024
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2024 ESI Risk Management & Litigation Readiness Report
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