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Lawyer Compensation Law Firm
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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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Pay Is No. 1 Reason Associates Stay at Their Firm, Says New Study of Canadian Lawyers
By Gail J. Cohen | December 10, 2024
NALP Foundation’s “stay study” also found associates on hybrid schedules were the most engaged and reported the most positive work experiences.
1 minute read
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What Happens When Lateral Partners’ Guaranteed Compensation Ends?
By Dan Roe | February 4, 2025
Partners’ disclosures about portable business and overall market conditions will influence upcoming transitions away from guaranteed compensation.
1 minute read
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Dechert Sues Former Attorney for Not Returning Compensation
By Jon Campisi | January 28, 2025
Dechert claims that former senior project attorney Kathleen Fay, who had been hired on a temporary basis, was erroneously paid more than $132,000 after her temporary work was revoked and that she has thus far failed to reimburse the firm.
1 minute read
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Law Firms Are 'Struggling' With Partner Pay Segmentation, as Top Rainmakers Bring In More Revenue
By Andrew Maloney | January 28, 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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Inside Track: AI Is Sure to Fray Big Law's Devotion to Billable Hour
By Greg Andrews | January 24, 2025
If generative AI allows a task that used to take 100 hours to require only 50, suddenly billing by the hour loses its allure.
1 minute read
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Law Firms Turn to 'Golden Handcuffs' to Rein In Partner Movement
By Andrew Maloney | January 24, 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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The Right Amount?: Federal Judge Weighs $1.8M Attorney Fee Request with Strip Club's $15K Award
By Allison Dunn | January 21, 2025
Throughout the lengthy litigation, the plaintiff brought in dozens of attorneys from nationally-ranked firms like Nixon Peabody to boutique Chicago firms such as O'Rourke & Moody and Luetkehans, Brady, Garner & Armstrong, among others.
1 minute read
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Are Counsel Ranks Getting 'Squeezed' as Nonequity and Associate Pay Grows?
By Andrew Maloney | January 16, 2025
When it comes to compensation raises for counsel, they can end up in “no man’s or no woman’s land,” said Jeff Lowe at CenterPeak.
1 minute read
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Law Firms Grapple With Nonequity Partner Pay ‘Friction’
By Andrew Maloney | January 14, 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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As Bonus Pools Expand, Challenges Grow in Partner Compensation
By Andrew Maloney | January 13, 2025
While partner bonuses remain a strong and flexible tool to reward lawyers, the more firms lean on them, the more likely it is they can cause confusion or dismay, some observers say.
1 minute read
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6-48. It’s Comp Time Again: How To Crush Your Comp Memo
By Lean Adviser | January 10, 2025
For many of our readers it’s self-evaluation season. The obvious question is where do you start? Should you just dive straight in and write your magnus opus? Here’s a better idea, your home for legal practice guidance is always Lean Adviser, and here is our killer checklist for completing your self-evaluation form.
1 minute read
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