Money
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Biglaw, Media and Journalism, Money, Skaddenfreude
More MSM Coverage of Lawyer Salaries
Readers of ATL are obsessed with lawyer compensation. But so is the mainstream media, it would appear — even in places outside New York, Washington, and Los Angeles. From a piece by John-Laurent Tronche in the Fort Worth Business Press: While local law firms are staying competitive, it doesn’t always pay to follow the nationwide […] -
Biglaw, Job Searches, Layoffs, Money
Nationwide Layoff Nothing to See Here, Please Move Along Watch: Latham & Watkins
As we previously wrote, there appears to be no truth to rumors of possible layoffs at Latham & Watkins. But even mentioning the words “layoff” and “Latham” in the same post got some people upset. We’d like to share some of the responses we received: [T]he idea of layoffs [at Latham is] ridiculous. NYC M&A […] - 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. -
Biglaw, Money, Perks / Fringe Benefits, Skaddenfreude
Biglaw Reversed Perk Watch: K&L Gates Cuts off 401(k) Contributions?
When it comes to perks and fringe benefits, Biglaw giveth, and Biglaw taketh away. From a tipster: Did you see the internal memo at K&L Gates announcing that the firm will cease contributions to attorney 401k plans? I found it interesting because it mentioned that similar reductions are occurring at other “major firms.” Which strikes […]
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Biglaw, Bonuses, Layoffs, Money, Skaddenfreude
Nationwide Layoff Normal Associate Review Process Watch: A Rebuttal to the Rumors About Kirkland & Ellis
Some sources at Kirkland & Ellis have been upset by our recent coverage of layoff rumors. These rumors were focused on K&E’s office in Chicago, but New York was also implicated. As we’ve repeatedly noted, these rumors are just that — rumors. We were reporting more on the existence of the rumors, as opposed to […] -
Arlen Specter, Ave Maria School of Law, Health Care / Medicine, Law Schools, Milberg Weiss, Money, Non-Sequiturs, Paralegals, Patrick Fitzgerald, Politics
Non-Sequiturs: 10.18.07
* Holy Lawsuit, Batman! Professors sue Ave Maria. [AveWatch.org] * TMI indeed; spare us talk of that burning sensation. Just say you have a doctor’s appointment, and leave it at that. [Nasty, Brutish & Short] * Just because you’re a 46-year-old man who has never been married doesn’t mean you’re gay. Plamegate prosecutor Patrick Fitzgerald […] -
Crime, Fashion, Jeffrey Epstein, Lawsuit of the Day, Money, Oral Sex / Blow Jobs, Perverts, Sex, Sex Scandals, Wall Street
Lawsuit of the Day: Cordero v. Epstein
Our colleagues over at DealBreaker have been extensively covering one heck of a lawsuit. It’s our Lawsuit of the Day, but it really ought to be our Lawsuit of the Week — it’s that good. The defendant is wealthy New York financier Jeffrey Epstein, who already stands accused, in Florida state court, of sex crimes […] -
Biglaw, Fenwick & West, Hogan & Hartson, Money, Reader Polls, Skaddenfreude, Thelen Reid & Priest, Thelen Reid Brown Raysman & Steiner
Chapman and Cutler Blazes The Trail of Tiers
What’s the hot new trend in Biglaw? Two-track systems for associates. They’re regarded as a sensible way for law firms to address the twin challenges of (1) higher associate salaries and (2) associate attrition (often due to a frustration with long hours). Here’s word of the latest law firm to join the party, from NYLawyer.com […] -
Boutique Law Firms, Divorce Train Wrecks, Money, Sex Scandals
Beveridge & Diamond: Affairs, Forgery, Car Chases, and Other Fun Stuff
In the latest issue of the Legal Times, Nathan Carlile has a somewhat salacious story about Beveridge & Diamond. Perhaps you haven’t heard of this D.C.-based environmental law boutique — which might be mistaken for a livestock brokerage, thanks to the sheep photos on their website. But a livestock brokerage probably has fewer hijinks: [A] […] - Sponsored
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
How to best leverage generative AI as an early adopter with ethical use. -
Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
Clerkship Bonus Watch: Shearman & Sterling Joins the $50K/$70K Club
Sometimes it takes a while. But we usually get results, eventually. Back in July, we published a post entitled Clerkship Bonus Watch: What’s Up With Shearman? Today, at 12:32 p.m., this email went around at Shearman & Sterling: At the last meeting of the Associates Committee in New York, the committee representatives noted that we […] -
Biglaw, Money, Skaddenfreude, Videos
Not Yet at $160K? Seyfarth It Ain't So!
Or maybe it is. From a tipster: Several offices of Seyfarth Shaw met yesterday and today to discuss the results of the Am-Law Mid-Level Associate Survey, as well as those from an internal survey distributed. [T]he data revealed in these surveys reflected a considerable level of dissatisfaction from associates regarding a variety of areas, and […] -
Alston & Bird, Biglaw, Bonuses, Money, Skaddenfreude
Who Else Is Paying Senior Associate Bonuses? Bueller, Bueller...
After Sullivan & Cromwell announced its new bonus program for senior associates, we received a bunch of messages like this one: Can you please do a thread to see if other NYC firms have matched or plan to match the S&C recent bonus pool system for senior associates? Seems like there’s been no reaction to […] -
Biglaw, Bonuses, Money, Skaddenfreude
Year-End Bonus Watch: Philadelphia
In terms of our associate compensation coverage, we’ve been on a bit of a Philly kick recently. We recently covered the pay raise announcements of Ballard Spahr and Blank Rome. We’re happy to continue this theme. In response to requests from several ATL readers, here’s a bonus thread dedicated to PHILADELPHIA. In the comments to […] -
Biglaw, Money, Skaddenfreude
Nationwide Pay Raise Watch: Ballard Spahr Raises
From a Philadelphia tipster: “Since you posted the Blank Rome raise, you might as well post this raise regarding Ballard Spahr as well.” Ballard Spahr is an Am Law 100 firm. So sure, we’re happy to post their associate pay raise memo. Check it out, after the jump.
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The Business Case For AI At Your Law Firm
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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.
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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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Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
How to best leverage generative AI as an early adopter with ethical use.
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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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Biglaw, Boutique Law Firms, Job Searches, Money
Does It Pay To Work for Biglaw?
Of course it does. Check out this post, with a handy chart, over at Empirical Legal Studies. Here’s an excerpt from Professor Bill Henderson’s excellent analysis: The median salary spread for a 1st year associate at a 2 -25 lawyer firm versus a 500+ firm is $77,000. When the reference group is a 51-100 lawyer […] -
Biglaw, Money
Bingham To Raise Its Billable Hour Requirement?
Not exactly. We’ve been receiving a multitude of tips indicating that that was exactly what Bingham intended to do. So we did some asking around, and here is Bingham’s official comment on the situation: Our hours policy reflects a balance between understanding that billable work is critical to Bingham’s success and that non-billable contributions to […] -
Biglaw, Blank Rome, Money, Skaddenfreude
Nationwide Pay Raise Watch: Blank Rome Raises
Yesterday Blank Rome announced associate pay raises, of varying sizes, that will take effect in 2008. The firm will move to a starting salary of $160,000 in New York, but not in Washington. In the Philadelphia mother ship, starting pay will be $145,000. The billable minimum at Blank Rome is 2000 hours. Here’s the memo: […] -
Biglaw, Howrey LLP, Money, Skaddenfreude, Weirdness
Nationwide Pay Raise Watch: Howrey Postpones Weirdness
As you may recall from our prior coverage, in posts titled Howrey Is Planning Something Weird and More About the Howrey Weirdness, the law firm of Howrey LLP was planning to ditch lockstep compensation for its associates — in favor of something weird (or innovative, or both). Starting in 2008, Howrey was going to employ […] -
Biglaw, Hedge Funds / Private Equity, Media and Journalism, Mergers and Acquisitions, Money, New York Times, Private Equity, Shameless Plugs, Wall Street
For M&A Lawyers, Is the Premium Party Over?
As some of you have noticed, we have an article in today’s New York Times, in the DealBook Special Section. It’s about fee arrangements in the (highly lucrative) context of mergers-and-acquisitions work. Here’s a teaser: For some firms, billable hours are just the beginning. As the boom rolled on, law firms specializing in mergers and […] -
Biglaw, Cheapness, Money
What's Up at WilmerHale? The Baltimore Office
Toe up, that is. After our recent post about WilmerHale having “issues,” multiple sources wrote in to tell us that the firm’s Baltimore office is closing, effective January 1, 2008. Once again, the firm ignored us did not respond to our request for comment (which we, like Robert Novak, don’t like very much). If you […] -
Fabulosity, Law Professors, Law Schools, Lawyerly Lairs, Money, Real Estate
Lawyerly Lairs: Columbia Law Professor Now Wants $30 Million for His Mansion
One year ago, we wrote about how Columbia law professor Hans Smit was trying to unload his 12,000 square foot home — the only freestanding single-family mansion in Manhattan — for a cool $29 million. One year later, the good professor’s home is still on the market. Its white-marble-clad facade greeted us when we visited […]