Money
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Akin Gump, Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Wilson Sonsini, Akin Gump (DC), Quinn Emanuel
Here are a few quick updates on the associate bonus front: 1. Wilson Sonsini: On Monday night, the firm issued a long and complicated memo, which we’ve posted in all its glory after the jump. Since we haven’t taken math since high school calculus, it went a bit over our head. General reaction to the […] -
Biglaw, Money, Partner Profits, Skaddenfreude
Stop Yer Whining, Senior Associates. You Could Be Making More Than the Partners!
No, seriously. Despite the perception of Biglaw partners as fat cats, some of them, at least in their early years, take home less than the senior associates who toil under them. From an article in the Legal Times by Nathan Carlile (whose work we’ve always admired, even before he wrote this nice profile of us): […] - Sponsored
Legal AI: 3 Steps Law Firms Should Take Now
If 2023 introduced legal professionals to generative AI, then 2024 will be when law firms start adapting to utilize it. Things are moving fast, so… -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Morrison & Foerster (non-New York)
Before the New Year, associates in the New York office of Morrison & Foerster received their bonus news. Now it’s time for their colleagues outside of NYC to collect their cash. In addition to the firm’s “standard productivity bonuses under the published 2007 compensation program,” MoFo is paying out (1) “a one-time bonus” (it sounds […]
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Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Some Updates
We don’t really have any major bonus news to pass along. Here are a few items following up on previously reported developments: 1. Latham & Watkins: On Friday we reported on the LW bonuses, which were well-received by associates. We now have more detailed information, which appears after the jump. 2. McDermott Will & Emery: […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Happy Campers at Latham & Watkins
We’ve been hearing a bit about the bonuses paid out by Latham & Watkins. It seems that LW associates are quite pleased. Going back to our post from earlier today, it seems that one tipster’s speculation about a meeting to spin bad news was off the mark. A second LW source had this rebuttal: Sometimes […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: WilmerHale in Washington
Yesterday the D.C. office of WilmerHale made its bonus announcement. Here’s a summary from a source at the firm: The bonus memo came out today. Yay! Salaries are the same. For the class of 2006, the hours guideline for bonuses is: Hours Bonus1,850 $15,0002,000 $35,0002,200 $40,0002,400 $45,000 Management gave the caveat that bonuses were awarded […] -
Alston & Bird, Biglaw, Bonuses, King & Spalding, Money, Skaddenfreude
Nationwide Pay Raise Watch: The Lay of the Land in Atlanta
As we reported earlier this week, the Atlanta office of Paul Hastings has adopted a new pay scale, with a starting salary of $160,000. The Fulton County Daily Report picks up the news today. It’s not new, since it was announced on Wednesday. But the article, by Meredith Hobbs, has a nice round-up of where […] -
Biglaw, Bonuses, Money, Skaddenfreude, Venable, Weirdness
Nationwide Pay Raise Watch: Venable to $160K
Some good news from a tipster over at Venable: You can finally remove D.C.’s Weirdest Law Firm from your List of Shame. (Does the List even exist now, or is it being revamped for $190K?) A memo was just issued announcing that first-year salaries at Venable will be raised to $160,000 effective July 2008. Sure, […] - Sponsored
Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
In this CLE-eligible webinar, we’ll explore the most common accounting pitfalls and how to avoid them for your firm. -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Weil Raises the Ceiling
As you may recall, back in November, Weil, Gotshal & Manges announced special bonuses, at market levels. In its memo, the firm explained that year-end bonuses would be announced at a later point: As is customary, 2007 year-end bonuses will be paid at market to associates receiving an “Overall Strong” rating and will be above […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Cadwalader, Wickersham & Taft
Back in November, Cadwalader, Wickersham & Taft issued a bonus memo that was devoid of numbers. Today, the CWT associates who survived the recent layoffs — which, to be fair, is most of them — learned how much they’d be getting. But since there was no firm-wide memo, there’s still a lack of total transparency […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: Winston & Strawn (New York)
Sorry it’s been a little slow around here for the past few hours. In the morning, we had some technical difficulties. For most of this afternoon, we’ve been offline, speaking at this D.C. bar panel. Anyway, now we’re back. And we have a fair amount of bonus information to pass along. The New York office […] -
Biglaw, Money, Skaddenfreude
Nationwide Pay Raise Watch: Paul Hastings to $160K in Atlanta
The powers that be in the Atlanta office of Paul Hastings just announced associate pay raises for fiscal year 2008, which will take effect on February 1. Apparently ATL — the website, not the city — got a shout-out at the meeting, when the announcing partner asked, “Who is going to be the first one […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: K&L Gates (New York)
A report on bonuses (such as they are) at K&L Gates in New York: No notice — not even an email. Apparently, the “highly confidential” memo appearing on ATL last year less than 24 hours after its release wasn’t appreciated. We were told that we would find out what the bonus was when it hit […]
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Legal AI: 3 Steps Law Firms Should Take Now
If 2023 introduced legal professionals to generative AI, then 2024 will be when law firms start adapting to utilize it. Things are moving fast, so…
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Generative AI In Legal Work — What’s Fact And What’s Fiction?
Zach Warren from the Thomson Reuters Institute discusses the potential and the pitfalls.
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Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
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Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
The rise of remote work has dramatically reshaped the relationship between Lawyers and Law Firms, see how Scale LLP has taken the steps to get…
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The Business Case For AI At Your Law Firm
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Biglaw, Billable Hours, Cheapness, john quinn, Litigators, Money, Partner Issues
Wherein We Hear From john quinn of Quinn Emanuel
For whatever reason, Quinn Emanuel — the highly prestigious, super-profitable litigation powerhouse, with offices in California and New York — has received a disproportionate amount of coverage here at ATL. As we previously wrote, “we have a lot of tipsters over there. It seems that QE associates love to talk about their firm, for good […] -
Lawsuit of the Day, Money, Reader Polls, Real Estate
Lawsuit of the Day: Buyer v. Broker
Or maybe yesterday. From Tuesday’s New York Times, an article that still sits on top of the Most Emailed Articles list: Marty Ummel feels she paid too much for her house. So do millions of other people who bought at the peak of the housing boom. What makes Ms. Ummel different is that she is […] -
Biglaw, Bonuses, Job Survey, Money, Reader Polls, Skaddenfreude
Featured Job Survey Results: Do New Yorkers Deserve Bigger Bonuses?
In last week’s ATL / Lateral Link survey, we asked you whether it was fair for associates in New York to get bigger bonuses than associates in other cities, even if they worked the same hours. We appear to have struck a nerve. Over two thousand of you responded. Among New Yorkers, 94% of associates […] -
Bankruptcy, Duke Lacrosse Team Rape Case, Michael Nifong, Money
Mike Nifong Is Bankrupt (and Not Just in the Ethical Sense)
From the Smoking Gun: Disgraced and disbarred, Mike Nifong is now bankrupt. The former North Carolina prosecutor, whose career imploded with his botched handling of the Duke University rape case, today filed for bankruptcy, listing liabilities in excess of $180 million. A summary schedule from Nifong’s Chapter 7 petition can be found below. Almost all […] -
Biglaw, Money, Skaddenfreude
Nationwide Pay Raise Watch: Business As Usual at Simpson Thacher
Almost one year ago, Simpson Thacher & Bartlett announced a major associate pay raise, unveiling a new pay scale with a starting salary of $160,000. The move sent tremors throughout Biglaw. Firms in New York quickly followed suit; firms in markets outside New York took longer, but eventually matched (for the most part). But if […] -
Associate Bonus Watch 2007, Biglaw, Bonuses, Money, Skaddenfreude
Associate Bonus Watch: McDermott Will & Emery to Pay Supplemental Bonuses
As we mentioned last week, McDermott Will & Emery was planning to hold a meeting with associates today about compensation matters. The meeting is over; here’s a brief report: The MWE associate compensation committee had a videoconference with all associates this morning, where they ate crow about their bonus structure for 2007. They basically said, […] -
Bonuses, Clerkships, Money, Skaddenfreude, Williams & Connolly
Clerkship Bonus Watch: Williams & Connolly to $45K / $90K
Not too long ago, we reported the move of Williams & Connolly to a pay scale with a starting salary of $180,000. Today we bring you more happy compensation news from W&C. First, the firm just raised its clerkship bonus from $35,000 to $45,000. This is a welcome development, although not super-exciting; $45K is slightly […]