Money
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Arent Fox, Biglaw, LeBoeuf Lamb, Money, Skaddenfreude
Nationwide Pay Raise Watch: Arent Fox, Seyfarth Shaw, LeBoeuf Lamb
We have a few associate pay raise developments to report this morning. Some of these items were announced some time ago, but they haven’t written about in these pages until now. Here they are: 1. Arent Fox: The firm now pays a starting salary of $160,000 in New York, D.C., and California, according to the […] -
Bad Ideas, Biglaw, Crime, Money, Murder
Think Twice Before Asking For That Pay Raise
For all of you greedy associates out there, here’s a cautionary tale. From CNN: The owner of a car dealership has been accused of killing two employees because they kept asking for pay raises. Rolandas Milinavicius has been charged with two counts of murder in the shooting deaths of Inga Contreras, 25, and Martynas Simokaitis, […] - 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, Hillary Clinton, Jamie Gorelick, Kenneth Starr, Money, Politics, Ted Olson
Biglaw and Big Politics: Which Way Does Your Firm Lean?
With the 2008 presidential campaign dominating the airwaves, despite being over a year away, everyone is talking about politics (and watching awesome, politically-themed music videos). Here’s a question that a law student posed to us: Are there differences between the politics of firms, roughly distinguishing between liberal and conservative, or are they all pretty much […]
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Akin Gump, Biglaw, Bonuses, Clerkships, Money, Skaddenfreude, Willkie Farr
Clerkship Bonus Watch: Akin Gump and Willkie (and WilmerHale Pulls a Latham)
Here are two updates about clerkship bonuses (a subject of interest to a limited group of readers — but those who care REALLY care): 1. Willkie Farr & Gallagher: The rumor that Willkie pays a $50,000 clerkship bonus has been confirmed. We understand this applies to both New York and Washington. 2. Akin Gump: In […] -
Biglaw, Money, Skaddenfreude
Nationwide Pay Raise Watch: Happy Days Are Here Again
Not much associate pay raise news right now. We have just two more announcements, neither of them super-exciting, both from firms with “Day” in their names: 1. Jones Day: The firm’s Dallas and Houston offices now pay starting salaries of $160,000. We don’t have a memo, but a tipster directed our attention to these pages […] -
Biglaw, Money, Skaddenfreude
Nationwide Pay Raise Watch: Baker & McKenzie
Remember that cute little bar graph, prepared by some disgruntled people in the Washington office of Baker & McKenzie? It looks like it worked. A source at the firm reports that the firm just raised associate salaries. An associates’ meeting was held earlier today. We haven’t seen the memo yet, but here are the numbers […] -
Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
Clerkship Bonus Watch: Paul Hastings Joins the $50K/$70K Club
The rumor from the other day has been confirmed: Paul Hastings, of Transformers fame,* has raised its clerkship bonus to $50,000. We’ve confirmed the news with two sources: an associate at the firm, and a law clerk with an outstanding offer. (We don’t know what PH pays for two clerkships, though; if you have that […] -
Akin Gump, Biglaw, Law Firm Mergers, Money, Skaddenfreude
Nationwide Pay Raise Watch: Akin Gump Raises (Plus Some Hughes & Luce News)
We’ve confirmed the news that Akin Gump has raised in Texas. Here’s the message from Bruce McLean, the Akin Gump chairman: We are pleased to announce that we will be increasing associate and counsel compensation effective August 1, 2007. For first and second years, compensation will increase to $160,000 and $170,000, respectively. For subsequent years, […] - Sponsored
The Business Case For AI At Your Law Firm
ChatGPT ushers in the age of generative AI – even for law firms. -
Biglaw, Money, Rudy Giuliani, Skaddenfreude
Nationwide Pay Raise Watch: Bracewell & Giuliani
As a presidential candidate, Rudy Giuliani is picking up steam. Meanwhile, his law firm, Bracewell & Giuliani, is doling out the cash down in Texas. From the Texas Lawyer: On July 25, Bracewell & Giuliani joined the growing pack of Texas-based firms raising first- and second-year associate raises. Houston-based Bracewell — with 391 lawyers in […] -
Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
Clerkship Bonus Watch: Kirkland & Ellis Joins the $50K Club
People, please, be patient. We heard you the first time you asked us to confirm that Kirkland & Ellis has raised its clerkship bonus. It was not necessary to reiterate this request in the comments to every single post on ATL. We reached out to Kirkland earlier this week, shortly after we started hearing this […] -
Biglaw, Money, New York Observer, Skaddenfreude, Wall Street
Profits vs. Partners: Is Biglaw Going the Way of the Dinosaur?
In this week’s New York Observer, there’s an article (by yours truly) that may be of interest to ATL readers. It’s entitled Profits vs. Partners: Are the country’s top law firms going the way of the dinosaur? You can check it out by clicking here. The piece has also been picked up by DealBook and […] -
Biglaw, Money, Skaddenfreude
The Rumors Persist: DPW to 180? NYC to 195?
Here is the latest unverified gossip making the rounds among summer associates in New York City: “I’m not summering at Davis Polk, but I have some friends who are, and I’ve been to a few of their events. The general assumption among people there was that the firm is going to $180,000, probably in time […] -
Biglaw, Kids, Money, Shameless Plugs, Skaddenfreude, Summer Associates, Washington Post
Summer Associates: It Was the Best of Times, It Was the Best of Times
Today’s Washington Post has a great article, by Ian Shapira, about the adventures of summer associates here in the nation’s capital. This is our favorite part (emphasis added): [B]udding lawyers say they spend much of their office time looking for better deals. They peruse such Web sites as Above the Law, a must-read legal blog […]
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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.
Sponsored
The Business Case For AI At Your Law Firm
ChatGPT ushers in the age of generative AI – even for law firms.
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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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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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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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Biglaw, Money, Skaddenfreude, Thompson & Knight
Nationwide Pay Raise Watch: Thompson & Knight
We can confirm the rumor that Thompson & Knight has raised first- and second-year associate salaries. Management recently circulated a press release to associates, along with this brief intro: “This press release will go out shortly. We will elicit your thoughts on the more senior associate structure.” The press release — which isn’t on the […] -
Biglaw, Money, Skaddenfreude, Susman Godfrey
Nationwide Pay Raise Watch: Susman Godfrey Raises (Yawn)
The folks over at litigation powerhouse Susman Godfrey like to toot their own horn. But that’s okay, because they have a lot to boast about. The firm has been tremendously successful, and it pays its people very well (especially in terms of bonuses). So this news should come as no surprise to anyone. From the […] -
Biglaw, Money, Partner Profits, Skaddenfreude
Nationwide Pay Raise Watch: Biglaw Partners Are Doing Just Fine, Thanks
Okay, that’s a bit of an understatement. Check out this interesting study, authored by Steven N. Kaplan and Joshua D. Rauh. Here’s a money quote (hehe) from their paper (p. 31): “[T]he representation of top corporate lawyers in the top 0.5% and top 0.1% AGI [adjusted gross income] brackets has increased substantially over time.” Translation: […] -
Biglaw, Money, Skaddenfreude
Nationwide Pay Raise Watch: Fulbright & Jaworski (D.C.)
No, we haven’t heard anything about Fulbright & Jaworski raising associate salaries in Texas. If you hear anything, please email us. But how about D.C.? That we can help with. From a tipster in Fulbright’s Washington office: Fulbright has raised. There’s still no memo available, and no one expects one, as the numbers were announced […] -
Biglaw, Harriet Miers, Hotties, Locke Liddell & Sapp, Money, Skaddenfreude
Nationwide Pay Raise Watch: Locke Liddell Has Raised
The rumor is true. Locke Liddell & Sapp has raised salaries for first- and second-year associates. As noted by a commenter, “Now that they have Harriet Miers back, Locke Liddell’s future is blindingly bright.” The news was reported in the Texas Lawyer. We’ve also gotten a copy of the email, sent out this afternoon by […] -
Biglaw, Money, Skaddenfreude
Nationwide Pay Raise Watch: Baker Botts Raises in DC
From a verified source in the Washington office of Baker Botts: Today, Baker Botts DC’s associates started receiving raise notices in the mail. They all appear to match the “real” DC market, not this V&E crap. Retroactive to July 1. The notices only refer to the recipient’s salary; there isn’t a formal memo outlining all […] -
Aaron Charney, Biglaw, Gay, Lawyerly Lairs, Money, Real Estate
Lawyerly Lairs: Aaron Charney Has Left the Building
No, not the Sullivan & Cromwell headquarters at 125 Broad Street. That happened months ago, not long after the young corporate lawyer sued his uber-prestigious employer, claiming anti-gay discrimination and retaliation by S&C. We’re referring instead to Aaron Charney’s former home, a luxury apartment on the 53rd floor of the Orion — a new, high-rise […]