Compensation

Earlier this week, we took a look at faculty salaries at UVA Law School. They’re freely available online because UVA is a public law school. The UVA student newspaper obtained the records through FOIA and then posted them on the web. (If you have a problem with such information being made public, sorry. The best I can do is channel Justice Scalia and tell you: “Amend the statute.” )

We don’t want to pick on UVA, so we’re going to take a look at law professor compensation at a few state law schools. Going down the latest U.S. News rankings, we find ourselves at the ninth-best law school in the nation, Berkeley Law aka Boalt Hall.

The word “Berkeley” conjures up images of long-haired hippies smoking copious amounts of marijuana. But in light of their lush salaries, Berkeley law professors could roll joints using hundred-dollar bills….

double red triangle arrows Continue reading “How Much Does Your Law Professor Make? Berkeley Law Edition”

UVA Law School

We write so many positive things about UVA Law School that we could be the school’s publicists. We gave UVA top honors in our ranking of southern law schools based on reader responses to the ATL Insider Survey. We praised UVA’s innovative public service fellowships for recent graduates. We pointed out that UVA is a top law school for government and public service jobs and for prestigious judicial clerkships, especially Supreme Court clerkships.

(UVA also excels when it comes to producing funny Law Revue videos. They won once in the past and have been in the finals several times. Don’t be shocked if they make an appearance again in this year’s contest, whose finalists we’ll be announcing on Wednesday.)

What are the secrets to UVA’s success as a law school? For one thing, they have an amazing faculty, full of leading scholars and inspiring teachers.

But such talent doesn’t come cheap. Let’s learn more about law professors’ salaries at UVA….

double red triangle arrows Continue reading “How Much Does Your Law Professor Make? UVA Law Edition”

What’s happening to the compensation of top partners at one major firm.

What kind of world are we living in? As we mentioned yesterday, a law school just announced that it’s lowering tuition — a shocking move, given that law schools almost always increase tuition by a few percentage points per year.

And now we get this news: a major law firm is cutting — yes, cutting — pay for top partners. This is a big surprise too, given that the powerful trend in the industry has been in favor of a growing divergence in pay between the highest- and lowest-earning partners. According to one recent study, “the spread in compensation between the highest- and lowest-paid partners in law firms has increased to 6-to-1 or 7-to-1 from the previous count of 4-to-1 or 5-to-1.”

So which firm is making this move, and what’s motivating it?

double red triangle arrows Continue reading “A Biglaw Firm Plays With Its Partner Pay Scale”

Unlike the latest Harmony Korine movie, filled with neon bikinis, former Disney princesses. and James Franco in bad dreads, my Spring Break consists of hanging with my kids while my wife works 24/7 on a grant application. We don’t make annual pilgrimages to Turks and Caicos; we make bi-weekly trips to Wegmans. But you know what? I signed on for this, and no amount of island sand can replace the sound of my younger boy reading a bedtime story to his little sister for the first time last night.

I read with interest the compensation package for the anonymous in-houser that Lat posted yesterday. In the comments, I pointed out that the package wasn’t outrageous or impossible, just that it was (way) outside of the norm. And that is okay. I chose this life and I am happy to say that it has been a soft landing for me. I have a good job, in a real estate market that is hard to beat — anywhere.

Lat is correct that Susan, Mark and I need to be circumspect about compensation; it would not do for our employers to see a pay scale pasted on these pages. So what can I say about my comp?

double red triangle arrows Continue reading “House Rules: Spring Breakers”

As regular readers of Above the Law know, we offer a wealth of content for in-house counsel. We have three in-house lawyers at major corporations who write columns for us — Mark Herrmann, Susan Moon, and David Mowry — and we supplement their coverage with additional in-house posts by our other writers.

One subject that our columnists tend to shy away from, for understandable reasons, is that of in-house compensation. They’ve written in general terms about comp issues, but they haven’t, say, divulged hard numbers about how much they earn.

But one of our in-house readers reached out to us and did exactly that. Let’s find out how much this person makes. The claim: in-house lawyers are better paid than you might expect….

double red triangle arrows Continue reading “In Defense of In-House Counsel Compensation”

Apparently there’s no such thing as “rankings fatigue” in this world, because hot on the heels of the release of the 2014 U.S. News law school rankings, we’ve got another set of rankings. These rankings, brought to us by Forbes, focus on one of the most-discussed areas when it comes to the value of legal education as of late: starting salaries.

Let’s face it: no matter the reason you went to law school, money is constantly on your mind. Whether you’re currently rolling around in a bed full of cash like Demi Moore in Indecent Proposal or you’re rubbing your last two pennies together wondering how you’re going to make your next loan payment, your cash flow (or lack thereof) is very important, and starting salaries may reflect the money you’ll be able to make later on in life.

Let’s dig in to this list of the nation’s richest recent law school grads, as ranked by median starting salary….

double red triangle arrows Continue reading “The Best Law Schools For Getting Rich Quick”

Law schools, don’t expect your applications to rebound anytime soon. The Law School Admissions Council (LSAC) recently released data showing that fewer people took the February 2013 LSAT than any administration of the February test ever.

Forever ever? Forever ever. In fact, the number represents one of the smallest amounts of test takers since 1988.

1988, folks. The Berlin Wall was still up. People were listening to Rick Astley and not ironically.

The reduced number of test takers is certainly a result of students beginning to question the value proposition of law school. But some of it is undoubtedly the result of intelligent students questioning the value proposition of being a lawyer.

Would you want to go into a field that hasn’t seen a starting salary raise since 2007?

double red triangle arrows Continue reading “If Associates Don’t Get A Raise, Expect Even Fewer LSAT Takers”

Everything’s humming along nicely at Bingham McCutchen. The firm just named 13 new partners, up from nine partners last year. The firm was once again honored by Fortune magazine as a best company to work for (which marks the ninth straight year, for those of you who are counting).

And the firm just announced its bonuses, both ordinary and “extraordinary.” Let’s see the numbers….

double red triangle arrows Continue reading “Associate Bonus Watch: Bingham McCutchen”

Over the last three weeks, we have heard from an In-House Insider, an opinionated source of insight into Biglaw-client relations — see here, here, here, and below. As with the three prior installments, the only changes I made to the Insider’s words were those done to protect their identity, and Insider was given the opportunity to revise their points once I added the questions and commentary. Again, I thank Insider for the candid observations and thoughtful opinions on these core issues….

AP: Any serious observer of Biglaw can see that firms continue to struggle adapting associate development to the new state of Biglaw-client relations. What can Biglaw learn from corporate clients like yourself on that front?

double red triangle arrows Continue reading “Buying In: An Interview with an In-House Insider (Part 4)”

A lot of in-house attorneys dream of reaching the top someday. And when they fall short of becoming the Managing Editor for Above the Law, they look to general counsel positions instead.

You get paid the big bucks, fly first class everywhere, and get to boss around outside law firms. What’s not to like?

I decided to find out. I checked with several general counsels (GCs) and chief legal officers (CLOs) (note — no one at my company), to learn what they think really sucks about being at the top of the legal hierarchy….

double red triangle arrows Continue reading “Moonlighting: Why You Don’t Want To Be The General Counsel”

Page 6 of 151...2345678910...15