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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?”
1 minute read
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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.
1 minute read
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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.
1 minute read
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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.
1 minute read
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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.
1 minute read
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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.
2 minute read
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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.
5 minute read
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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.
2 minute read
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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.
4 minute read
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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.
3 minute read
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Holland & Knight Matches Milbank Bonuses for Some Associates
By Alexander Lugo | January 6, 2025
Amid questions over how much of the Am Law 100 will pay out special bonuses for 2024, Holland & Knight matched the Milbank base bonus scale while also matching on special bonuses for some associates. But the biggest bonuses are limited to associates in large markets.
1 minute read
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Morrison & Foerster Doles Out Year-End and Special Bonuses, Raises Base Compensation for Associates
By Samson Amore | December 20, 2024
MoFo is among a handful of West Coast Am Law 200 outfits that have announced bonuses or plans to pay them out at the fiscal year’s end.
1 minute read
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Elite Boutiques Competing More With Big Law Bonuses, With Several Going Above Market
By Abigail Adcox | December 17, 2024
The small number of boutiques offering above-market and eye-popping bonuses appears to be growing.
1 minute read
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Bonus Parade Continues, With Additional Firms Matching Milbank
By Amanda O'Brien | November 22, 2024
While firms didn't rush to match Milbank's special bonuses in August, Cleary, Davis Polk, Weil, Skadden Arps, Cadwalader, and O'Melveny are the latest to join the ranks of those matching Milbank's summer and end-of-year bonus schedule.
1 minute read
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Managing Partners Survey: Please Let Us Know How The Past Year Went
By Max Mitchell | November 4, 2024
All responses are CONFIDENTIAL.
2 minute read
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Average Law Firm Partner Compensation Hits $1M in Philadelphia
By Amanda O'Brien | October 29, 2024
The figure grew by $260,000 over the previous year, according to a new Major, Lindsey & Africa survey.
4 minute read
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Average Partner Comp Hits $1M in Phila.
By Amanda O'Brien | October 29, 2024
The figure grew by $260,000 over the previous year, according to a new Major, Lindsey & Africa survey.
4 minute read
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Microsoft's Banner Year Pushed Brad Smith's Pay Sharply Higher
By Maria Dinzeo | October 25, 2024
The company racked up lots of wins in the fiscal year that ended June 30, including completing its largest acquisition ever, the $69 billion purchase of Activision Blizzard—a deal Smith pushed across the finish line in October.
4 minute read
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Average Partner Pay in D.C. Is Climbing—but Not as Fast as Billing Rates
By Abigail Adcox | October 25, 2024
The average pay for Am Law 200 partners, including equity and nonequity partners, in D.C. has eclipsed $1.5 million.
3 minute read
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Many Judges Earn Less Than Lawyers: Texas Judiciary Asks for 30% Raise
By Adolfo Pesquera | October 25, 2024
Office of Court Administration Executive Director Megan LaVoie said 26% of judges who voluntarily retire said salary was a contributing factor.
5 minute read
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