Lawyer Compensation - General
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Law Firms 'Struggling' With Partner Pay Segmentation, as Top Rainmakers Bring In More Revenue
By Andrew Maloney | January 29, 2025
Some partners last year "doubled their book of business, and not just from $20 to $40 million, but $60 to $120 million," noted Blane Prescott. "More firms are struggling with: what should the top be?”
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Law Firms Turn to 'Golden Handcuffs' to Curb Partner Movement
By Andrew Maloney | January 27, 2025
Many firms are increasingly implementing strategies such as clawbacks and deferred compensation to discourage partners from leaving, noted legal recruiter Mike Parrillo.
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Law Firms Grapple With 'Friction' Over Nonequity Partner Pay
By Andrew Maloney | January 15, 2025
Pay for nonequity partners can approach or overlap with compensation of senior associates, counsel as well as some equity partners, firm leaders and consultants say.
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Big Law Heavyweights Wrestle in High-Stakes Sale of Venezuela’s Citgo
By Amy Guthrie | January 2, 2025
A former Skadden, Arps, Slate, Meagher & Flom partner is managing the sale of Venezuela’s prized international asset, whose sale is being sought to settle debts owed to claimants represented by firms including Gibson Dunn & Crutcher. Concerns are mounting about the case's mounting legal costs.
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Partner Pay Has Entered 'A Whole Different World'
By Andrew Maloney | December 16, 2024
Rapid changes to partner pay in Big Law will continue, experts say. Among nearly 200 firms, more than one-third plan to make changes to their equity partner compensation models over the next two years.
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Taylor Wessing Germany Ups Associate and Salaried Partner Pay
By Jennifer Spatz | October 30, 2024
The move brings Germany pay closer to UK levels, where in August the firm lifted newly-qualified lawyer salaries to £115,000.
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Average Partner Pay 'Surges' in Both Equity and Nonequity Tiers
By Andrew Maloney | October 25, 2024
The average origination amount for a partner also shot up last year, amid a general trend of partners maintaining bigger books of business.
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Clifford Chance Further Modifies Lockstep to Better Reward Top Performers
By Habiba Cullen-Jafar | October 25, 2024
The top of equity at the firm can now reach £12 million, according to one person familiar with the matter, amid a frantic London hiring market.
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It's Time Law Firms Were Upfront About Who Their Salaried Partners Are
By Krishnan Nair | October 20, 2024
Clients are paying more attention to who is doing the work they're getting billed for; yet the salaried partner tier endures, writes The Global Lawyer.
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A&O Shearman Adopts 3-Level Lockstep Pay Model Amid Shift to All-Equity Partnership
By Habiba Cullen-Jafar | October 17, 2024
The changes follow the news that the firm is to trim its partner numbers and withdraw from certain areas, as elite law firms seek ways to better reward top performers.
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