Another non-equity partnership tier is added to a big law firm as Cleary Gottlieb Steen & Hamilton make a strategic move to join other big law firms in the non-equity partnership ranks. Cleary’s adoption of a non-equity partnership tier marks a departure from its traditional single-tier structure, where all partners held an ownership stake in […]
Cleary Gottlieb Joins Growing Trend of Non-Equity Partnership Tiers Read More »
The Top Paying Law Firms In 2024, law firms continue to offer lucrative compensation packages in the US, UK and elsewhere, with commercial law firms, particularly those specializing in Mergers & Acquisitions, private equity and other deal-making law firms leading the pack in terms of revenue and lawyer salaries. We have reported the Vault law
Top Paying Law Firms of 2024: Salaries and Industry Insights Read More »
The London Law Battle For Legal Talent In a move that sent further ripples through the London law world, Slaughter and May has joined the fray in the ongoing salary war for junior lawyers, announcing a substantial 20 percent increase in newly-qualified (NQ) associate salaries, boosting the annual pay packet to £150,000, aligning the firm
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What Do The Summer Bonus Delays Mean? Associates are waiting with bated breath for their 2024 summer bonus news, but the waiting continues. Traditionally, these bonus announcements begin to roll out in late July or early August, setting the tone for the industry’s compensation landscape and reports of major bonus payments have left associates waiting
What’s Happened To Our Summer Bonuses, Ask Associates Read More »
Big Law Summer Bonus Update The Big Law summer bonus season that was kicked off by Milbank, as we recently reported, and has left some firms following suit and others . . well, left deciding what to do. And associates too are wondering what may happen to their summer bonus. It’s a mixed bag regarding
Will More Firms Join The Big Law Summer Bonus Party? Read More »
The ‘M-For-Money’ Milbank Bonus Payout Milbank is awarding seniority-based associate bonus payouts of up to $25,000 to its associates and counsel worldwide, which could lead to another ‘bonus bump’ for associates among big law firms. According to an internal memo, bonuses for first-year associates will begin at $6,000 and increase with seniority, with payments scheduled
Milbank’s Associate Bonus Payout Could Lead to Bonus Bump For Other Big Law Firms Read More »
Cleary Gottlieb Steen & Hamilton LLP has made headlines with its readiness to offer up to $20 million for lateral partner hires as the intensely fought lateral-hiring frenzy continues unabated among big law firms. The development not only underscores the firm’s commitment to competing at the highest levels of the legal market but it underscores
Magic Circle Pay Wars Report The Big Law pay wars in London continue with Clifford Chance now lifting its newly qualified pay rates to keep pace with its competitors in the London marketplace, which has now seen junior lawyers’ pay increase by up to 50 percent over the past five years. The pay wars have
In the latest salvo of the intensifying war for legal talent among top City firms, Quinn Emanuel has fired a shot across the bow, significantly boosting pay for its newly minted solicitors in London with a major legal pay increase. The powerhouse US-based litigation boutique, the storied ‘most feared’ litigation firm, is raising base salaries
The Legal Pay Wars Heat Up in The City as Quinn Emanuel Ups the Ante Read More »
Payday Partners In Deep Cover Albert Goodwin, LawFuel contributor It sounds somewhat sinister, but the ‘black box’ pay system for partner remuneration model that is being used by some big law firms is gaining attention and momentum. In an age of transparency – supposedly – the ‘black box’ model requires deep cover and belies the
Why Are Big Law Firms Using The ‘Black Box’ Pay Model? Read More »
