Biglaw, Boutique Law Firms, Kramer Levin, Midsize Firms / Regional Firms, Money, Perks / Fringe Benefits

Biglaw Perk Watch: Associate Client Fees

100 dollar bill Above the Law Above the Law law firm salary legal blog legal tabloid Above the Law.JPGHere’s an interesting (and potentially lucrative) Biglaw benefit, which was recently brought to our attention:

How about a Biglaw perk watch thread on associate client fees? For example, at Kramer Levin, if an associate brings a new client to the firm, he or she gets 7 percent of all fees collected from that client.

The rule applies even if the associate isn’t involved in the matter. So, for example, a litigator who brings in a corporate client would still get the percentage.

We have heard of such arrangements, although we think they tend to be more common among midsize and smaller firms, as opposed to the biggest of Biglaw shops. But even if you don’t share in the fees, it obviously helps your partnership chances if you have the power to bring in a major client (e.g., because your mom is the CEO or GC of a Fortune 500 company).
If you have thoughts or information to share, please do so in the comments. Thanks.

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