Law Firm Pay Changes Albert Goodwin, LawFuel contributor Davis Polk chair, Neil Barr, sees the next 18 months as a key period that will reshape the legal industry landscape with increased lateral hiring and changes to law firm pay models, according to a report in Bloomberg Law. Lawfuel reported on the lateral recruitment move in […]
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The latest law firm to announce a Boston office is Simpson Thacher announcing that it will open an office in the city later this year. This follows the recent news we reported about Paul Hastings opening an office in Boston last month. The full press release of the Simpson Thacher announcement is below – >>
Big Law Firms Goes Back In Time Mayer Brown LLP (“Mayer Brown”) announced today an agreement in principle for the Hong Kong partnership to separate from the international practices of Mayer Brown, reverting to its legacy name, Johnson Stokes & Master (“JSM”). Mayer Brown will continue to operate in Hong Kong through a new partnership,
Cravath law firm has moved into swanky new offices at Two Manhattan West, the 58 level development, developed by Brookfield Properties. Clifford Chance have also secured a major tenancy in the development. The Cravath media release is below – On April 29, 2024, Cravath announced it has completed the relocation of its New York office to
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The Arrival of The New BigLaw Name On The Block The arrival on the legal scene of A&O Shearman, the merged firms of Allen & Overy and Shearman Sterling, will help reshape the legal landscape, but it will have a particularly significant effect upon the London legal scene. The Magic Circle law firms that have
Baker McKenzie have strengthened their West Coast business and transactional capability by hiring nine lawyers from Munger Tolles & Olson, including nine partners from the firm and two counsel. Munger Tolles is based in LA and has 220 lawyers, with offices in San Francisco and Washington DC. The Baker Mckenzie news release is below –
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How Much Do Law Firm Partners Bank Each Year? Albert Goodwin, law firm business writer The question of what the law firm partner salary level is intrigues some and bewilders others, with compensation figures often confidential. The issue is therefore more complex and partner earnings can fluctuate not only due to economic factors, but also
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DLA Piper has trimmed the number of new partners in its latest round – with 63 new partners this year compared to 70 promoted in 2023 and 2022. Of the newly promoted partners, twenty are women, constituting 32 percent of the total promotions, which aligns with the firm’s aim to achieve a 30 percent female
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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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Average law firm partner rates rose 5.4% in 2023, the highest levels since the first CounselLink Trends Report in 2013; Median partner billing rate in 750+ law firms is 61% higher than the next smaller tier RALEIGH, N.C. — In 2023, law firm billing rates rose at a record-setting pace with partner billing rates up, the
