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
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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
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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
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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
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Big Law Salary Scale List The news that Milbank had kicked off the $225k salary payments has seen a raft of other biglaw firms join the fray – much to the joy of associates. Milbank kicked off the biglaw salary increases in November 2023 and the example was followed by Cravath a short time later,
The 80 Firms Who Are Hitting The Big Law Salary Scale? Read More »
Latest Report Shows Partner Pay Rates Increase Again Hard to believe maybe, but law firm partner billing rates are on the increase again – at least in the United States where a new LexisNexis survey reports that billing rates raised by an average of 5.4 percent, which followed a 4.5 percent increase in 2022. The
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Lathams Big Law Salary Scale Splurge Ben Thompson, LawFuel’s big law and List review editor When we published the ‘Profits per Partner’ list last year in our big law salary survey report, Latham & Watkins were topping the list at $7.3 million – and the firm is intent on ensuring it remains top dog in
Big Law Salary Scale Boost Sees Latham Lift The Partner Profits Pool Read More »
