Compensation
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Associate Salaries, Biglaw, Career Center, Job Survey, Killing Lockstep, Money, Shameless Plugs, This Is an Ad
Career Center Survey Results: Comparing Compensation Systems
Back in 2009, when killing lockstep was all the rage, a number of large law firms announced that they would be moving to some form of a merit-based compensation system. Now that we’re a few years into those systems, how many firms have stuck with the plan? And which systems do associates prefer? Of the […] -
Biglaw, Law School Deans, Money, Quote of the Day
Quote of the Day: Wall of Shame, or Wall of Virtuous Restraint?
This is what you see in the law firm world. Law firms try to keep up with Cravath, but it might not be financially prudent. You try to keep up with Cravath, and then two or three years later you go bankrupt. — Dean Frank H. Wu of UC Hastings Law, discussing the legal profession’s […] - Sponsored
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Advertising, Associate Salaries, Biglaw, Bonuses, Job Survey, Killing Lockstep, Money, Shameless Plugs, This Is an Ad
Career Center Survey: Comparing Compensation Systems
In the throes of the recession, many Biglaw firms jumped on the bandwagon to kill lockstep compensation in favor of a more merit-based system (though some have already fallen off the bandwagon). With a variety of compensation models currently in use among firms today, we want to hear from you about how you get compensated […]
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Associate Bonus Watch 2010, Associate Salaries, Biglaw, Bonuses, Money, Salary Freeze, Silicon Valley
Associate Salary Watch: Wilson Sonsini Restores Pay to Pre-Freeze Scale
It appears that Larry Sonsini, chairman and name partner of the high-powered Wilson Sonsini law firm, is a very good golfer. Earlier this year, while playing golf to celebrate his 70th birthday, the legendary lawyer scored a hole in one. Sonsini isn’t the only one who’s scoring over at 650 Page Mill Road. His partners […] -
Associate Salaries, Biglaw, Bonuses, Money, Partner Issues, Partner Profits
Biglaw Firm Warns Associates They'll Be 'Disappointed' With Comp
You know associates are pissed when they end their emails to Above the Law with lines like this one, from a message we received last night: NO ONE SHOULD COME HERE. EVERYONE HERE SHOULD LEAVE. That’s what happens when you tell your associates that they’re going to get paid significantly below market and like it. […] -
Gay, Gay Marriage, Immigration, John Yoo, Larry Thompson, Law Professors, Non-Sequiturs, Richard Epstein, William Birdthistle
Non-Sequiturs: 03.28.11
* Over the weekend, while I was at the gym, I listened to this engaging and entertaining podcast, with Professors Richard Epstein and John Yoo. They discuss Libya, Obamacare, and — perhaps most interesting for ATL readers — the U.S. News law school rankings (around the 13-minute mark). [Ricochet (subscription); accessible for free for ATL […] -
Abortion, Bankruptcy, Deaths, Gay, Gay Marriage, Immigration, Law Professors, Non-Sequiturs
Non-Sequiturs: 03.22.11
* Is it possible that in South Dakota you have to go through a shorter waiting period to buy a gun and shoot someone who is already alive than you have to go through in order to have an abortion? Could somebody check on that? [MSNBC] * Did you see this chart showing that law […] -
Associate Salaries, Biglaw, Killing Lockstep, Money
Associate Salary Watch: Big (and Good) News from Winston & Strawn
Well that didn’t take long, did it? On Tuesday afternoon, we wrote about associates at Winston & Strawn who were upset over the lack of news on seniority-based salary bumps. Since we’re well into a new year, associates at top law firms should be getting raises, with first-years becoming second-years ($160K to $170K), second-years becoming […] - Sponsored
AI’s Impact On Law Firms Of Every Size
How solo lawyers, midsize firms, and global large law firms have an opportunity to adjust the way they work. -
Associate Bonus Watch 2010, Associate Salaries, Biglaw, Bonuses, Money
Associate Bonus (and Salary) Watch: Wilson Sonsini
In our coverage last month of top law firm partners to work for, Wilson Sonsini did well. See here and here. (Speaking of Wilson Sonsini partners, the firm recently announced nine new ones — including Rick Frenkel, of “Troll Tracker” fame. Congratulations!) Not only does WSGR have some great partners to work for, but they […] -
Biglaw, Money, Partner Issues, Partner Profits
Quinn Emanuel Profits Per Partner Head Higher Into the Stratosphere
Friday brought good news for associates at Sullivan & Cromwell. The firm announced generous springtime bonuses, which will double bonus compensation for some of the more junior classes. If you missed the news, which broke late on Friday, check it out over here. But Friday brought even better news about litigation powerhouse Quinn Emanuel. As […] -
Clarence Thomas, Federal Judges, Money, SCOTUS, Supreme Court
Clarence Thomas and His Wife's $680,000 of Unreported Income
Who knew that working for a conservative think tank paid so well? The Los Angeles Times is reporting that Virginia Thomas, the politically active wife of Supreme Court Justice Clarence Thomas, earned over $680,000 over five years while working at the Heritage Foundation. That’s pretty nice scratch. A possible problem: according to Common Cause, Clarence […] -
Associate Bonus Watch 2010, Associate Salaries, Biglaw, Bonuses, Money
Associate Bonus (and Salary) Watch: Goodwin Procter
Last month, the Boston Globe reported on an arbitrator’s finding that Goodwin Procter overcharged a real estate client by more than $540,000. (We mentioned the Globe story here and here.) Alas, some claim that Goodwin isn’t letting that extra gravy trickle down to its associates…. -
Biglaw, Money, Partner Issues, Partner Profits
Partners, I Feel Your Pain
If you thought that obsessing about money and feeling underpaid and underappreciated when it comes to your compensation stops once you become a Biglaw partner, think again. Am Law Daily reports on a new study done by Major Lindsey & Africa. The study shows that 61% of partners think they should be paid more. Oh, […]
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AI’s Impact On Law Firms Of Every Size
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Biglaw, In-House Counsel, Money, Partner Issues
Inside Straight: A Tangent on Merit-Based Compensation
Ed. note: This is the latest installment of Inside Straight, Above the Law’s new column for in-house counsel, written by Mark Herrmann. I like what Steven Harper’s doing these days. After 30 years at Kirkland & Ellis, he retired from the fray, and he now comments on big law firms from an outsider’s perspective, at […] -
Bonuses, In-House Counsel, Job Searches, Money
Inside Straight: In-House Compensation
Ed. note: This is the latest installment of Inside Straight, Above the Law’s new column for in-house counsel, written by Mark Herrmann. I really don’t care much about compensation. Let the abuse begin. If you hate your job, then no one can pay you enough to make going to work every day worthwhile. And if […] -
General Counsel, In-House Counsel, Money, Rankings
The Highest-Paid General Counsel (Kind of)
Corporate Counsel has released its annual list of the highest-paid general counsel in the land. The trend this year is a leveling-off, says Corporate Counsel, thanks to the recession and the belt-tightening that results from a greater transparency for executive compensation. The party slows down when the lights come on. These GCs still managed to […] -
Associate Bonus Watch 2009, Associate Salaries, Biglaw, Bonuses, Money
Jenner & Block: Salaries and Bonuses Come in Low
We’ve been having some fun documenting the curious game of chicken happening in Chicago. The top firms in the city seem to be waiting for each other to set the associate salary market — even though that market has already been set. Kirkland set the market by never freezing associate salaries in the first place. […] -
Associate Salaries, Biglaw, Killing Lockstep, Money, Salary Cuts
Dickstein Shapiro: New Salary Structure Leaves A Lot of Questions
Add Dickstein Shapiro to the list of firms that have decided to do away with lockstep associate compensation. As of January 22, Dickstein will adopt a new merit-based compensation system. Like many firms that have abandoned lockstep, Dickstein will be using a three-tiered system, similar to Orrick’s compensation structure. Starting salary for new Dickstein associates […] -
Biglaw, Money, Skaddenfreude, Williams & Connolly
Nationwide Pay Raise Watch: Williams & Connolly to $180K
The litigation powerhouse of Williams & Connolly has announced associate pay raises, effective January 1, 2008. We have confirmed the fact of the raise with sources at the firm. There was no comprehensive memo, so we’re not 100 percent certain of the specific numbers. But word on the street is that the new pay scale […] -
Associate Salaries, Biglaw, Boutique Law Firms, Duval & Stachenfeld, Job Searches, Law Schools, Money, Skaddenfreude, Small Law Firms
Attention Tier Two Grads: Duval & Stachenfeld Wants You
Never heard of Duval & Stachenfeld? Well, that’s about to change, thanks to the firm’s innovative approach to associate compensation, which is getting some media mentions. From an article by Kellie Schmitt in The Recorder: The 50-lawyer firm, based in New York but with a small L.A. office, starts first-year associates at $60,000 — or […]